What is the average savings for retirement at age 45 in the United States?

The average retirement savings for Americans between 45 and 54 is $101,000. Having retirement savings between $100,000 and $250,000 is most common for Americans in this age group. Fifteen percent of Americans between 45 and 54 have less than $25,000 in retirement savings.

Many financial planners recommend that people in their 40s should have at least three times their salary in retirement savings. This means that someone who earns $40,000 per year should have approximately $112,000 in savings by age 40. In practice, savings needed for retirement vary widely from this rule of thumb. Location, salary, health and lifestyle can all affect goals for retirement savings.