NerdWallet Data Puts Average Retirement Savings at $537,560 for Ages 55-64
Updated
Updated · KCRA Sacramento · Aug 3
NerdWallet Data Puts Average Retirement Savings at $537,560 for Ages 55-64
3 articles · Updated · KCRA Sacramento · Aug 3
Summary
$537,560 is the average retirement savings for Americans ages 55 to 64, according to NerdWallet figures highlighted by CAPTRUST adviser Kathryn McCall.
The same data put average savings at $313,220 for ages 45-54, $141,520 for ages 35-44, and $49,130 for people under 35.
McCall shared the age-based benchmarks on KCRA 3 as a way for viewers to compare their own retirement balances with peers.
She also pointed viewers to a savings approach based on monthly take-home pay, shifting the focus from comparison alone to how much individuals should be setting aside.