Here's how much Americans in their 30s have in their 401(k)s – CNBC

By age 30, you should have close to the equivalent of one year’s salary saved for retirement, Fidelity Investments recommends. But if you’re not there, you’re not alone.Americans between the ages of 30 and 39 have a median balance of $17,400 in their 401(k)s as of the first quarter of 2023, according to Fidelity Investments data provided to CNBC Make It. The average is a bit higher at $46,000 but can be skewed upward by a few accounts with larger balances, which is why the median is generally a better measure.If your retirement savings fall below either of those amounts, the first thing to remember is that you’re not a failure, Marguerita Cheng, certified financial planner and CEO of Blue Ocean Global Wealth, told CNBC Make It.”Fixating on one number may not be healthy,” she says. “You don’t have the context and it doesn’t take into consideration progress made along the way.”Instead, keep this key number in mind: your retirement savings rate, which is the percentage of your income you’re contributing to your 401(k).Fidelity recommends saving about 15% of your income each year for retirement, including any available employer match. If that seems like a lot of money to stash
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