Retirement savings refers to the funds that individuals set aside to ensure they have financial security during their post-working years in their retirement accounts like 401k, IRA, etc… and their savings accounts.
According to the Economic Policy Institute (EPI), the average retirement savings of all working-age families in the U.S. is $95,776 in 2020. However, this average is heavily skewed by the top 10% of savers, who have an average of $274,000 saved.
When it comes to the top 25% of savers, the average retirement savings increase significantly.
Here are the average retirement savings by age for the top 25%
| Age | Savings |
|---|---|
| 30 | $45,000 |
| 31 | $50,000 |
| 32 | $55,000 |
| 33 | $60,000 |
| 34 | $66,000 |
| 35 | $72,000 |
| 36 | $79,000 |
| 37 | $86,000 |
| 38 | $93,000 |
| 39 | $101,000 |
| 40 | $163,000 |
| 41 | $173,000 |
| 42 | $183,000 |
| 43 | $193,000 |
| 44 | $204,000 |
| 45 | $215,000 |
| 46 | $226,000 |
| 47 | $238,000 |
| 48 | $250,000 |
| 49 | $263,000 |
| 50 | $325,000 |
| 51 | $342,000 |
| 52 | $359,000 |
| 53 | $376,000 |
| 54 | $394,000 |
| 55 | $412,000 |
| 56 | $431,000 |
| 57 | $450,000 |
| 58 | $469,000 |
| 59 | $489,000 |
| 60 | $516,000 |
These are just rough estimates and may not reflect the actual savings of individuals at each age. However, this information can provide a general idea of the average retirement savings for the top 25% of savers at each age.