Average Retirement Savings by Age 2012

by Andy Hough on April 23, 2012

Average retirement savings by age is a popular topic. Everyone knows they need to save money for retirement but a lot of people are not saving any money for retirement and many more are not saving enough money for retirement.  If you would like to know how your retirement savings compare to those of others in your age group I have provided the date for you below.

Here’s how retirement savings breakdown by age group:

25 – 34

76% saved less than $25k, 12% were between $25k-$50k, 6% were between $50k-$100k, 5% were between $100k-$250k, and 1% were above $250k.

35 – 44

61% saved less than $25k, 11% were between $25k-$50k, 14% were between $50k-$100k, 12% were between $100k-$250k, and 3% were above $250k.

45 – 54

54% saved less than $25k, 9% were between $25k-$50k, 9% were between $50k-$100k, 12% were between $100k-$250k, and 17% were above $250k.


40% saved less than $25k, 8% were between $25k-$50k, 12% were between $50k-$100k, 18% were between $100k-$250k, and 22% were above $250k.

All (Combined)

60% saved less than $25k, 10% were between $25k-$50k, 10% were between $50k-$100k, 10% were between $100k-$250k, and 10% were above $250k.

This data is from the 2012 EBRI retirement survey.  When you compare this data to the results from a few years ago you can see there are more people that have less than 25k saved.  How do your retirement savings compare?

If you want to plan your transition to retirement try here.


MyMoneyDesign May 1, 2012 at 10:13 pm

I’m glad to see that I’m way ahead of average for my age group. The 55+ stats are somewhat depressing …

Grace May 2, 2012 at 12:13 pm

60% of people age 55 or older have less than $100,000 in retirement savings? I find that terrifying. I guess I should be happy that at age 63, I finally hit the $250,000 mark, but I’m not retiring until I reach $400,000 (which I think will happen about the time I turn 69–it had better or I’ll be working until I’m 90!)

JAMES May 3, 2012 at 6:54 am

Save and invest early and often. At least the 55+ will have some social security left. The rest of the groups are screwed.

Andy Hough May 3, 2012 at 6:04 pm

The statistics show that most people don’t save anywhere near as much as the experts recommend. I think the expert’s recommendations are usually too high but still there are a lot of people who haven’t saved nearly enough.

The older people will probably be ok. My mom is 65 and I doubt she has close to $100,000 saved. She and her husband both get Social Security and her husband gets a pension and she is still working so they are doing fine but I doubt that is the case for all who have undersaved.

Dan November 7, 2012 at 3:32 am

EBRI needs to expand on the upper limit they estimate. Stopping at $250,000 doesn’t tell the whole story. For 55 and up 22 % are above $250,000. So it would be nice to see the breakdown of those above $500,000, $750,000, and $1,000,000

RichUncle EL December 6, 2012 at 9:32 am

Thanks for the facts regarding this topic. Savings is a major issue here in America that has to be fixed.

Tom December 30, 2012 at 3:56 pm

I am reminded of the fable of the ant and the grasshopper. It looks like most of us are grasshoppers. I think most of my friends are grasshoppers. Ok, all you grasshoppers – it’s been fun watching you buy sports cars and boats and so forth. Hope you got a lot of pleasure out of them. No, I don’t have a spare room for you to crash in for a while. Sorry.

Nathan September 14, 2013 at 10:17 pm

As a 24 year old who plans on retiring from the military, I’m happy with my 25k I have saved up and my 15-25% YTD interest I’ve been getting for the last 2-3 years on my 401(k).

I could use some extra, non-401k money but I am far from wanting and I put most of it into 401(k).

That being said, I know to many people who are my age or older who think they are doing great with 2-3000 in savings.

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