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What is the average savings account for Americans?

Key findings In 2019, the average retirement account savings for American households was $65,000. The average American under 35 has $13,000 saved for retirement. 62% of Americans aged 18 to 29 have some retirement savings, but only 28% percent feel on track for retirement. 55% of non-retirees have a 401 (k) or 403 (b) while 25% have no retirement savings. More items...

What is the average retirement age for Americans?

Historically, however, most Americans have left the workforce some time before age 65. Indeed, SmartAsset’s analysis of U.S. Census Bureau data found that the national average retirement age is 63 years old. At the state level, it ranges from 62 to 65.

What is retirement savings?

Retirement savings account. A retirement savings account is a type of retirement plan account that is envisioned to replace all three different types of individual retirement accounts that are currently used in the United States: traditional IRA, Roth IRA and Simple IRA.


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