There are a variety of decent retirement savings benchmarks out there. How much other people your age have saved isn’t necessarily one of them.
After all, age is just one factor in how much you should have saved for retirement, and it assumes you and everyone else who hit their Sweet 16 in 1999 will also retire at the same time.
Even so, it’s natural to wonder how much Joe around the corner has in his IRA, or whether Betsy in the marketing department is maxing out her 401(k). Average retirement savings balances by age give that itch a slight scratch. They’re not rules of thumb, or even savings guidance. But they are an interesting peek under a curtain that is typically drawn closed.
How much each age has saved for retirement
You won’t be surprised to learn that retirement savings balances tend to increase with age, as they should — the closer you are to retirement, the more you should have stashed away.