Median Retirement Savings at 65–74: How You Compare

For U.S. households ages 65 to 74, median retirement savings were about $257,000 in a 2025 analysis of Federal Reserve Survey of Consumer Finances data Boldin. That is a useful reality check, but not a universal target: it describes a middle household with a retirement account, not what every retiree “should” have.

If you want a practical way to use the number, compare it with nearby age groups, check whether your household even has retirement-account savings, and then decide whether your goal is to reach that median, exceed it, or rely on other income sources as well. For related reading, see Money Moves for Your 50s and 60s: Age Like Fine Wine!.

What the latest Fed-linked data say for ages 65–74

The clearest supported figure for this age band is that households ages 65 to 74 had about $257,000 in median retirement savings, based on Boldin’s 2025 analysis of Federal Reserve Survey of Consumer Finances data Boldin.

That same analysis also says the median for households age 65 and older was about $257,000, counting households with a retirement account Boldin. In plain English, the available figure is best read as a household-level number for older Americans who have retirement-account savings, not as a measure of every single person in that age range.

Another important definition point: retirement account balances in the report include balances in defined contribution plans and IRAs congress.gov. So this comparison is about account balances, not total net worth and not Social Security benefits.

That distinction matters because the Congressional Research Service says Social Security is the most common source of income among households ages 65 and older congress.gov. A household can have retirement income without having especially large retirement accounts.

How that compares with nearby age groups and household types

The biggest missing piece in many retirement-savings articles is context. Here is how the supported figures line up.

Two practical takeaways stand out.

First, the supported 65–74 median of about $257,000 is only modestly above the supported 55–64 median of $239,000 Boldin. That suggests the typical household does not suddenly leap far higher once it reaches the early retirement years.

Second, partnered households in the 65–74 range show a higher median, about $300,000 Boldin. That does not prove couples are “better prepared” in every way, but it does show household structure can change the comparison.

There is also a year issue. A CRS-related 2022 figure cited in the provided material shows a lower median balance of $170,000 for households age 65 and older with retirement accounts, alongside a much higher average of $554,422 christianfinancialhealth.com. Because these figures come from a different year and slightly different framing, they should be used as a nearby comparison point, not as a direct contradiction.

Why median matters more than average here

If you are trying to answer, “How do I compare with a typical household?” the median is usually more useful than the average.

The reason is straightforward. In the CRS explanation, the average adds everyone’s savings together and divides by the number of households, while the median is the middle balance when savings are ranked from smallest to largest christianfinancialhealth.com.

The same CRS explanation notes that a few very large balances can make the average look much higher than what a typical household has saved christianfinancialhealth.com. Boldin makes a similar interpretation, arguing that the wide spread between median and average after age 45 reflects how concentrated retirement wealth becomes as balances grow Boldin.

You can see that gap clearly in the supported data:

• For ages 55 to 64, the median is $239,000 while the average is $670,200 Boldin.
• For households age 65+ with retirement accounts in the CRS-related 2022 figures, the median is $170,000 while the average is $554,422 christianfinancialhealth.com.

So if you hear a large “average retirement savings” number and immediately feel behind, the supported evidence says to be careful. Average balances can overstate what is typical.

How many households in this age range have retirement accounts at all

The next question is not just “How much is in the account?” It is also “How many households have one?”

Among households age 65 and older in the CRS analysis of the 2022 Survey of Consumer Finances, 47.1% had retirement accounts christianfinancialhealth.com. Separately, the CRS overview says about 54% of U.S. households had savings in retirement accounts in 2022 congress.gov.

For 2025, Boldin says about 55% of U.S. households held retirement account savings, and about 63% of households ages 55 to 64 had one Boldin. Again, those are close to the CRS household-level figures but not directly comparable because they come from different years and wording.

The Federal Reserve’s 2025 report uses a different population measure: 62% of adults age 65 and older had tax-preferred retirement savings accounts, compared with 73% of adults ages 55 to 64 Board of Governors of the Federal Reserve System. This is an adults measure rather than a households measure, so it should not be treated as the same statistic.

One more readiness signal: less than 10% of households in each age group had retirement assets above $1 million in the CRS overview congress.gov. More specifically, 9.2% of all households ages 55 to 64 had more than $1 million in retirement accounts in the CRS-related analysis christianfinancialhealth.com.

The practical consequence is simple: very large retirement balances exist, but they are not the norm. The bigger gap is that many households have modest balances or no retirement-account savings at all.

The Fed report also says lower-income adults, younger adults, women, and Black and Hispanic adults were less likely than others to have tax-preferred retirement accounts or defined benefit pensions Board of Governors of the Federal Reserve System. That helps explain why broad retirement comparisons can feel uneven across households.

What the numbers suggest about catch-up saving

Because the provided sources do not include a supported rule of thumb for what you “should” have at 65 to 74, the safest comparison is this: if your goal is to match the supported median for that age group, the reference point is about $257,000 Boldin.

We also have one rough catch-up illustration. Assumption: use the supported $257,000 65–74 median as the target, use the CRS-related $170,000 median for households age 65+ with retirement accounts as a lower comparison starting point, assume a 3% annual return from the planner context, and test three time frames. The provided calculation says the monthly saving needed would be:

• 5 years: $920.78 per month
• 10 years: $197.58 per month
• 15 years: $0 per month

Those results are given in the calculation input and should be treated as an illustration, not a sourced benchmark requirement. The explanation attached to the calculation explicitly says it is a rough catch-up example, not a precise gap analysis.

What drives the result? Time and the return assumption. Under the provided scenario, a short five-year window requires much more new saving than a 10-year window. In the 15-year scenario, the reported monthly amount falls to $0, which implies the longer time horizon and assumed return do most of the work in that illustration.

That does not mean everyone can stop saving for 15 years. It only means this specific example, with this specific starting balance, target, horizon, and assumed 3% return, produced that result.

If you are trying to turn these figures into action, a reasonable decision guide is:

1. Start with the right comparison. Compare your household with the median, not the average, if you want to know what is typical christianfinancialhealth.com.
2. Check whether your household type changes the benchmark. Married or partnered households ages 65 to 74 with a retirement account had a median around $300,000, above the overall 65–74 median Boldin.
3. Remember that retirement accounts are only one piece. Social Security is the most common income source for households 65+ congress.gov.
4. Focus on cash-flow reality. The Fed says 35% of non-retirees overall thought their retirement saving was on track Board of Governors of the Federal Reserve System. It also reports a major difference in emergency savings between people who consistently had money left over at month-end and people who never did: 86% versus 13% had savings to cover three months of expenses Board of Governors of the Federal Reserve System. In other words, catch-up plans depend heavily on room in the monthly budget.

If you are behind the 65–74 median, the evidence here does not say you have failed. It says many households either have no retirement account or hold balances well below the headline averages. If you want more ideas for balancing present spending with future saving, see Soft Saving: Smart Money Move or Future Regret? and Retirement Savings Missing? Smart Moves to Try Instead.

FAQ

What is the median retirement savings for households ages 65 to 74?

About $257,000, based on Boldin’s 2025 analysis of Federal Reserve Survey of Consumer Finances data Boldin.

How does the 65–74 median compare with the 55–64 median?

The supported 65–74 median is about $257,000, compared with $239,000 for ages 55 to 64 in the same 2025 analysis Boldin.

How many households age 65 and older have retirement accounts?

The provided sources give several related measures. In the CRS analysis of the 2022 Survey of Consumer Finances, 47.1% of households age 65 and older had retirement accounts christianfinancialhealth.com. The CRS overview says about 54% of all U.S. households had retirement-account savings in 2022 congress.gov, and Boldin says about 55% of U.S. households held retirement-account savings in 2025 Boldin.

Why can the average be much higher than the median?

Because the average is pulled up by a relatively small number of very large balances, while the median represents the middle household after balances are ranked from low to high christianfinancialhealth.com. Boldin interprets the wide gap as evidence that retirement wealth becomes more concentrated as balances grow Boldin.

How we calculated this

Method: savings_goal, computed by script, not by hand. Inputs and assumptions:

• target: 257000 (source: Boldin)
• current: 170000 (source: christianfinancialhealth.com)
• annual rate: 3 (source: NestBridge)
• years: null (assumption: Use three scenarios: 5, 10, and 15 years.)

Results illustrate the stated assumptions; they are not forecasts.

Sources

• Savings and Investments — Board of Governors of the Federal Reserve System, May 26, 20
• Average Retirement Savings by Age: Couples, Top 10% — Boldin, 2026-10-09
• What Americans Have Saved for Retirement at Each Age — christianfinancialhealth.com
• 2022 Survey of Consumer Finances (SCF) — congress.gov

This article is for educational purposes only and is not personalized financial, tax or legal advice. Rules and figures change; check the linked official sources or a qualified professional before acting.