That’s the average 401(k) balance for Americans between the ages of 35 and 44

Let’s face it — planning for retirement might not come first when you’re in your 30s or 40s. But if your employer offers a 401(k), it’s worth taking advantage of, especially if they offer matching contributions.

However, if you’re not sure how much to save in your 401(k) each year, we took a closer look to see what other 35- to 44-year-olds are doing. Hint: It’s not as much as the average American, but those in this age group still use employer-sponsored plans to avoid falling behind.

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Take a look at average 401(k) balances for workers ages 35 to 44

Each year, Vanguard dives into the saving habits of 401(k) participants in its “How America Saves” report. In its latest report released in 2024, Vanguard found the average 401(k) balance for all age groups to be $134,128. For those aged 35 to 44, however, the average balance is much lower at $91,281.

The average balance for this age group may be even more surprising at $35,537. Still, that’s close to the overall median 401(k) balance of $35,286, according to Vanguard’s analysis of nearly 5 million retirement accounts.

For perspective, the median figure gives a clearer picture of what’s typical — half of 401(k) holders have larger balances and half have smaller — while the average is skewed upward by those with the means to contribute more to your 401(k). It is also worth noting that the average balance tends to increase with age. So if you can increase your income and manage your day-to-day expenses, you’ll likely see your retirement savings grow over time.

Truth be told, it’s difficult to compare your retirement progress to someone else’s — you probably have different goals and financial situations. However, knowing where your peers stand can motivate you to keep track of your own numbers. The more you track your progress, the better off you’ll be when retirement comes.