Compare the amount you have saved or plan to have saved for retirement compared to others from the 2019 Survey of Consumer Finances. The retirement savings include IRAs, 401ks, Thrift Savings Accounts, and pensions. Because there are differences with pre-tax and post-tax valuations of retirement accounts and calculating the net present value of a pension or annuity, just use your best guess for how much you would need to save to replace that income.
Retirement Savings Percentiles
Retirement Savings Percentile Stats
- To be in the top 1% for this age range, your household would need a retirement savings of $1,699,000. This would include 401ks, IRAs, and the current value of your pensions.
- To be in the top 5% for this age range, your household would need an retirement savings of $795,000.
- Your retirement savings of $0 for ages 45 to 55 ranks at the 41.84th percentile. Re-enter a different retirement savings to find the percentile for that age / retirement savings combination.
Retirement Savings Composition of Households like you
Comparisons of Net Worth, Assets, and Debt components of similar households versus median households.
- Households like you ( weighted using 36.8th to 46.8th percentiles)
- Versus Households at the Median (weighted using 45th to 55th percentiles)
|Asset Category||Similar Households||Median Households|
|401k, 403B, Thrift:||$49||$8,271|
|Other Financial Assets:||$1,540||$39,740|
Comparisons of Income components of similar households versus median households.
|Income Category||Similar Households||Median Households|
|Wage & Salary Income:||$2,933||$72,007|
Demographics of Comparable Head of Households
Highest Education Level
Labor Force Status
Retirement Savings Percentiles For Ages 45 to 55
|Percentile||Retirement Savings (in Dollars)|
Share These Results :These results are based off of 6350 individual samples where the head of household was age 45 to 55 and are weighted to represent 25052188 American households.
The numbers are based off of the retirement results of the 2019 Survey of Consumer Finances by the Federal Reserve. The number of samples per age vary quite a bit, so you might get unusual results for certain ages.
In addition, it appears that the SCF calculated the value of defined benefit pensions as a present value number. There are many other calculators out there that you can use to calculate this number, but if you need a ballpark number just use the 4% Trinity Rate. Imagine that if you were to replace your pension's annual payment, you would need to save a large amount of money to be able to withdraw 4% every year. So basically, take your annual pension benefit and divide it by 4%. For example, if your annual pension benefit is $20,000, calculate 20000/0.04 to get $500,000 as the value of the pension if you were to have to replace it yourself.