America's Retirement Savings by Age

What We’re Showing

The retirement savings of Americans by age group, based on data from the Federal Reserve’s 2022 Survey of Consumer Finances.

Retirement Savings Fall Short

Painting a concerning picture, the median retirement savings for Americans stands at a mere $87,000—a figure far lower than what is needed for a comfortable nest egg. In fact, a recent survey reveals that $1.46 million is the ideal savings target for a comfortable retirement, up from $1.27 million last year.

$37.8 Trillion in Retirement Assets

As of 2022, there were $37.8 trillion held in U.S. pension plans and Individual Retirement Accounts (IRAs). Of these, employment-sponsored plans comprised a substantial 70% share of these assets.

However, for many Americans without employer-sponsored plans—such as with state, local, or federal governments—saving for retirement has become an increasingly uphill battle. In fact, the Census data from 2020 showed that just 58% of Americans aged 55 to 64 have retirement accounts, underscoring the growing challenges faced in preparing for retirement.