The average 401(k) balance was $141,000 as of the first quarter of 2026, according to Fidelity.
Whether that’s enough depends on your age and how you envision retirement.
Save as much as you’re able, and set a retirement savings target if you don’t already have one.
You’re not imagining it: Saving enough for retirement has gotten more challenging than it was in the past. Earlier generations of retirees had pensions to rely upon and wages that kept pace with the rising cost of living. Social Security benefits also went further than they do today. Couple that with longer average life expectancies, and today’s workers have their work cut out for them.
Many are responding by saving more, and the average 401(k) balance currently sits near record highs, according to recent Fidelity research. But whether the average person is on track for a comfortable retirement remains a very different question.
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Fidelity research from the first quarter of 2026 found that the average 401(k) held $141,000, down slightly from $146,400 in the fourth quarter of 2025. But the total savings rate reached a record 14.4%, suggesting that savers are still stepping up their efforts to build a nest egg for retirement.
It’s not possible to tell from this information alone, though, whether the average person is on track for a comfortable retirement. A lot depends on the specifics of when and how a person plans to retire.
A 25-year-old with $141,000 in savings is off to an excellent start and will likely retire comfortably if they can maintain that savings pace. A 65-year-old with only $141,000 is in a very different position. They’ll likely be heavily dependent on Social Security benefits, and they may need to scale back spending in retirement to ensure they can still afford the essentials.
A lot also depends on when you plan to retire and how long you expect that retirement to last. Someone who thinks they’ll only live for 15 more years and plans to live a quiet life in a rural area may need a lot less to retire comfortably than someone who expects to spend 30 or more years in one of the most expensive cities in the nation.
While looking at averages can give you an idea of how you stack up to the average worker, it doesn’t tell you much about whether you’re on track for your goals. An online retirement calculator could be more helpful with this.
If you haven’t yet worked out how much you think you’ll need for retirement, try to estimate what your average annual expenses will be, keeping in mind that inflation will continue to drive up costs. Then multiply this amount by 25. Make this your savings target.
Sometimes you’re not able to save as much as you’d like, and that’s OK. Save as much as you can right now, and increase your savings rate whenever the opportunity presents itself.
If you’re like most Americans, you’re a few years (or more) behind on your retirement savings. But a handful of little-known “Social Security secrets” could help ensure a boost in your retirement income.
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