Average 401(k) Balance by Age: How Much Should I Have Saved for Retirement?

Aug 27, 2026

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Asking how much money you need to retire is the wrong question. Learn how to calculate the exact income gap needed to make work optional.

Video Chapters:
0:00 - How much do I need to retire?
0:58 - What does it mean to make work optional?
2:03 - Vanguard 401(k) Data: Why average balances mask median realities
3:08 - Necessary vs. Discretionary Spending: Mapping your lifestyle
6:42 - $3M with no plan vs. $1.5M with a plan
9:48 - Why $1 Million in a Traditional IRA is not $1 Million in a Roth
13:09 - How do I calculate my financial independence gap?
18:13 - Managing the 5 biggest retirement risks: Inflation, taxes, and market drops

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Check out our other videos:
https://youtu.be/BdM-15mxEDM?si=D7AftiJLLwiyPU0f 
https://youtu.be/O-nGasrm5HE?si=Mup8P2NTi13R9-2Q 
https://youtu.be/BL2pmLI8dRw  

Sources:
https://workplace.vanguard.com/insights-and-research/report/how-america-saves-2026.html?cmpgn=IIG:TL:HAS:HAS26:SRCH:PS:UF:TL:GG:Unknown:Exact:TLEAD:20260616:BD:NONE:NONE:KW:AmericaSavesReport&gclsrc=aw.ds&gad_source=1&gad_campaignid=17413933188&gbraid=0AAAAADx4guzAuPHqjyjSbxL4X5ag-L7BD&gclid=Cj0KCQjwnbrUBhDOARIsAKKhPpe5nxyXM6HUklKpp97Q0sCUjcYJ4WOUtZb9VO-TfRDyo98mPxRAmTgaArWsEALw_wcB 

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Investment advisory services offered through Modern Wealth Management, LLC, a registered investment adviser. 

The views expressed represent the opinion of Modern Wealth Management, a Registered Investment Adviser. Information provided is for illustrative purposes only and does not constitute investment, tax, or legal advice. Modern Wealth Management does not accept any liability for the use of the information discussed. Consult with a qualified financial, legal, or tax professional prior to taking any action.