Here are the average retirement savings for Americans by age

The Federal Reserve conducted its most recent Survey of Consumer Finances (SCF) in 2022 and released the results in October 2023. The triennial report provides an overview of the income, assets, liabilities and net worth of American households.

Under assets, the SCF provides details of retirement accounts, but most people have additional retirement savings in other investment vehicles. So readers who want to compare their financial situation to that of their peers should also consider savings held in certificates of deposit and bonds, as well as savings invested in stocks and index funds held outside of traditional retirement accounts.

The terms “mean” and “median” are often used interchangeably, but statisticians define mean as a broad term that encompasses three measures of central tendency: mean, median, and mode. Each measure is useful in different situations, but the median is generally the most appropriate when dealing with skewed data, such as financial information.

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