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Average Retirement Savings by Age

I don’t put much stock in most “averages,” whether they’re rules of thumb [3] or average net worth [4], but every once and a while it’s good to know where you stand.

So where do we find the average retirement savings by age? We are forced to rely on the internet. Unfortunately, with the recent stock market crash, writing about nest eggs and average retirement savings hasn’t been very popular. To get data, we turn to the Employee Benefit Research Institute’s latest report on Individual Account Retirement Plans (August 2009 [5]).

The EBRI’s report has a ton of detailed information on almost everything you might want to know about retirement savings and participation, from defined contribution plans to IRAs. For the purposes of our comparisons, I’ll just look at the age breakdown (2007 figures adjusted to 2009):

Some words of warning after you read this:

Much like average net worth [4], it’s useful to know where you stand but don’t put too much stock in it.

How do you stack up? 🙂