Fidelity and Vanguard report median retirement savings for near-retirees at $259,100 and $305,006, respectively, as of early 2024.
Workers aged 55 to 64 participating in employer-sponsored 401(k) plans hold average balances of $259,100, according to Fidelity’s first-quarter data. Vanguard’s 2023 report shows a slightly higher figure at $305,006 for the same age group.
The figures reflect contributions to workplace retirement accounts but exclude savings in IRAs or brokerage accounts. Federal Reserve data, which includes all retirement savings, suggests broader variability in nest eggs for this demographic.
No immediate market reaction was reported following the release of these figures.