Overview
- The National Institute on Retirement Security reports a $955 median for employed adults ages 21–64, with a $40,000 median among those who have savings.
- Limited access to workplace plans remains a central gap, with the report noting many workers without 401(k)s or similar accounts are not saving at all.
- Federal Reserve data show only 57% of households headed by someone 55–64 have retirement accounts, and among those with accounts the median balance is $185,000.
- Younger savers are least likely to participate: about half of under‑35 households had accounts in 2022, with a $18,800 median for those who do, while provider averages such as Fidelity’s ~$26,000 reflect different measurement methods.
- Experts caution that popular targets like $1.5 million may fall short due to healthcare, inflation and longevity risks, and they urge attention to tax rules including required minimum distributions beginning between ages 72 and 75.