Retirement savings can look very different depending on your age.
Your age group and where you are in life make a big impact on both your financial and personal well-being. From younger Americans just starting out to those approaching or in retirement, the journey of saving is an important one.
This journey reflects not just numbers in accounts, but life stages, health needs, and peace of mind.
How Savings Stack Up Across Ages
According to Yahoo Finance, retirement savings are modest for those under 35, typically below $19,000 for people with accounts, and only about half of this group even have money set aside through an employer plan or IRA.
As you move into your mid-career years, balances tend to grow significantly. People in their 30s and 40s usually see savings more than double compared with younger adults, reflecting longer time in the workforce and increased salary potential.
By the time many reach their 50s and early 60s, median balances reach well into the six figures. By age 60, many people have over $200,000 saved up.
For seniors, having a healthy savings cushion isn’t just about travel or comfort — it’s about covering rising health and long-term care costs with dignity and reducing stress that can affect wellness. But even a solid nest egg isn’t the only piece of the retirement picture. Quality of life also depends on stable income, community support, and the ability to stay physically active and engaged.
And this brings us to Social Security — after decades of paying into the system, everyone deserves their full benefit without penalty. As savings trends show wide disparities across age groups, Social Security remains a foundational source of income for many, especially those whose savings lag.
Ensuring seniors receive the full benefits they earned helps promote financial security and overall well-being in the years when health and quality of life matter most.
To help us safeguard Social Security’s future, sign our petition here.
