How Much Money to Have Saved for Retirement by Age 60 | Retirement

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If you’re in your 40s, 50s or nearing your 60th birthday, you’re probably wondering: How much money should I have saved for retirement by age 60?

And according to the Federal Reserve, the average retirement account balance for Americans ages 55 to 64 in 2019, the latest year for which figures are available, was $408,420. Of course that’s a range, and it’s not the expert-recommended balance.

Below, we’ll get that expert take to help guide your savings strategy as you near your sixth decade.

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