What Is the Average Amount of Money Saved at Retirement?


Quick Answer

According to Vanguard, a financial investment company inside the United States, the average balance of its 401K plan retirement beneficiaries was $101,650 by the end of 2013. While this number is higher than previous years, financial experts agree it's still an insufficient amount for retirement.

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Full Answer

While the average 401K retirement account balance held by Vangaurd clients was $101,650 in 2013, the New York Times estimated that couples who were 65-years-old and retiring in the United States in 2013, and who have saved $1 million for retirement, will likely outlive their money if they spend $40,000 per year. The New York Times explains that both inflation and a poor financial market are to blame, and predicts the situation will likely get worse.

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