A Closer Look at the Average Retirement Savings by Age [INFOGRAPHIC]

We take a closer look at the numbers behind the averages, for a better understanding of the supersavers who are driving retirement trends to help tip the retirement savings scales in your favor.


The road to retirement can seem long, but for many it may not be long enough. From ages 18 to 68, the average person spends nearly a quarter of their waking hours at work.1^Annual Survey of Hours and Earnings (ASHE) Offfice of Statistical Analysis (UK Numbers) 2016 Whether it’s a dream gig, a grind, or a side hustle, we spend a lot of time on the clock. Despite this, almost half (48 percent) of Americans are approaching retirement with nothing saved. 2^U.S. Government Accountability Office, "Retirement Security: Most Households Approaching Retirement have Low Savings, an Update." 2019.

To help identify opportunities for savings and growth across the population, we take a look at the numbers behind America’s retirement savings and see how some of supersavers are moving the retirement savings curve.

The Average Retirement Savings

According to the Economic Policy Institute, the average retirement savings of all working-age families (32-61) is $95,776. 3^Economic Policy Institute, "State of American Retirement." 2016.

However, since nearly half of U.S. families have no retirement account savings at all, that figure skews high because of retirement supersavers and older pre-retirees who boost the national average.

The Median Retirement Savings

For a more inclusive perspective at what American families have in retirement savings, we look at the median retirement savings, which is more representative of the middle of the spectrum. 

Looking at retirement preparedness through this lens, the median savings of all working-age families is $5,000.

This $90,000 gap demonstrates how varied retirement savings are across different age groups with different financial habits. Regardless of where you land on the spectrum, we have broken down the national retirement savings numbers, by age, to help identify saving gaps and saving measures applicable to generations of Americans.

Average and Median Retirement Savings Infographic

Of course, every retirement is different. Each with its own challenges, opportunities and goals. The common demand, among supersavers and average savers is the need for benefits that can help the transition from saving to income. Products like a fixed index annuity can help ensure that the nest egg you’ve earned is protected, that you have opportunities to grow your assets, and an option for lifetime income stability.



The content is provided for informational purposes only and does not constitute advice. For specific details on how this may apply to your personal situation, contact your personal financial advisor or insurance agent for more details. American Equity contracts are only sold through independent agents. Please contact your state insurance department to see if there is an independent insurance agent in your area appointed to sell American Equity annuity contracts.
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