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Are you above or below average? The 2025 401(k) balance for people in their 60s could be a wake-up call

The latest 2025 data shows a sharp divide in retirement readiness for Americans in their 60s. The average 401(k) balance is about $568,040, but the median is only $188,792, while Fidelity lists $246,500 for ages 60 to 64. The gap reflects how a few high balances skew averages. Many fall short of benchmarks like saving eight times income or 25 times annual expenses. A $75,000 earner is advised to have $600,000 by 60, yet most dont. Median savings under $200,000 cover only a few years, making catch-up contributions increasingly crucial.