📊 Journalist Resource · Plootus Research 2026
Retirement Statistics 2026: 60+ Key Data Points on Savings, Social Security & More
A comprehensive, fully-cited collection of the most important retirement statistics for 2026 — organized by category. Updated annually. Free to cite with attribution to Plootus Research.
By the Plootus Research TeamLast updated: March 202660+ statisticsAll sources cited
60+Cited Statistics
$148KAvg. 401(k) Balance, All Ages
$24,894Avg. Annual SS Benefit (2025)
$24,5002026 401(k) Contribution Limit
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Free to cite: This page compiles retirement statistics from Vanguard, Fidelity, the Social Security Administration, the Federal Reserve, and other authoritative sources. You're welcome to cite this page — please attribute Plootus Research 2026 and link back to this URL.
Savings
💰 Retirement Savings Statistics
$148,153
Average 401(k) Balance — All Ages
A record high, up 10.5% from $134,128 in 2023, reflecting strong market performance across Vanguard's ~5M participant dataset.
Vanguard How America Saves 2025 (~5M participants)
$38,176
Median 401(k) Balance — All Ages
The more accurate representation of the typical American's savings — nearly 4× lower than the average due to high-balance outliers.
Vanguard How America Saves 2025
54.3%
Families With Any Retirement Account
As of 2022 — meaning nearly half of all U.S. families had nothing saved for retirement in any formal account.
Federal Reserve Survey of Consumer Finances 2022
14.3%
Average Total Savings Rate (Q1 2025)
Employee + employer combined — the highest on record, just shy of Fidelity's recommended 15% target savings rate.
Fidelity Q1 2025 Retirement Analysis
7.7%
Avg. Employee Contribution Rate
Average percentage of paycheck contributed to employer retirement plans in 2024. 45% of participants increased contributions vs. prior year.
Vanguard How America Saves 2025
$146,400
Fidelity Avg. 401(k) Balance (Q4 2025)
A record high for Fidelity's dataset, up 11.2% from Q4 2024 — reflecting strong equity market performance throughout 2025.
Fidelity Q4 2025 Retirement Analysis
Average 401(k) Balance by Generation (2025) — Average vs. Median
Source: Fidelity Q4 2025 Retirement Analysis. Gen Z: under 28; Millennials: 28–43; Gen X: 44–59; Boomers: 60–78.
- 01Baby Boomers have the highest total retirement savings — averaging $506,302 combined across 401(k) and IRA accounts (ages 61–88).Fidelity Q4 2025
- 02Gen X (ages 45–60) averages $296,252 in combined retirement accounts — a sharp jump from Millennials' $92,409, reflecting peak earning years.Fidelity Q1 2025
- 03Only 70% of private-industry workers had access to a defined contribution plan in March 2024. Participation rates were even lower.Bureau of Labor Statistics 2024
- 04Workers who saved continuously for 15 years averaged a $617,600 401(k) balance — vs. $465,000 for 10-year continuous savers.Fidelity Q4 2025
- 051 in 4 employees misses the full employer 401(k) match, leaving $1,000 or more in free money on the table every year.Fidelity 2025 Retirement Insights
- 0665% of non-retired adults say their retirement savings are not on track — the most prevalent financial anxiety in the Federal Reserve's annual survey.Federal Reserve Economic Well-Being of U.S. Households 2024
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Geography
🏠 Cost of Retirement Statistics
$129,296
Annual Cost in Hawaii (Most Expensive)
The most expensive state to retire in the U.S. — nearly 2.2× the national average of $57,800/year.
GOBankingRates 2026 / Plootus Research 2026
~$46,000
Annual Cost — Most Affordable States
Average annual retirement cost in Kansas, Oklahoma, and West Virginia — roughly 64% less than Hawaii.
GOBankingRates 2026 / Plootus Research 2026
$57,800
National Average Annual Retirement Cost
Based on BLS Consumer Expenditure Survey 2024 (ages 65+), adjusted by MERIC Q3 2025 state cost-of-living index.
BLS CES 2024 / MERIC Q3 2025 Index
$2.1M+
Min. Savings to Retire in Hawaii
Under the 4% withdrawal rule after accounting for average Social Security income.
Plootus Research 2026 / Kiplinger 2025
| State | Annual Cost | Min. Savings (4% Rule) | vs. National Avg. |
|---|---|---|---|
| Hawaii | $129,296 | $2,610,050 | +124% |
| California | $84,600 | $1,492,650 | +46% |
| Massachusetts | $89,400 | $1,612,650 | +55% |
| New York | $82,000 | $1,427,650 | +42% |
| National Average | $57,800 | $825,025 | — |
| Iowa | $50,200 | $630,775 | −13% |
| Mississippi | $45,600 | $515,025 | −21% |
- 11The gap between the cheapest and most expensive states to retire is over $1.9 million in required savings over a 25-year retirement — the single biggest financial variable most pre-retirees underestimate.Plootus Research 2026
- 12California, Massachusetts, and New York are the three most expensive states to retire — all requiring over $1.5 million in minimum savings under the 4% withdrawal rule.GOBankingRates 2026; Plootus Research 2026
- 13The average household spends 34.9% of its budget on housing — roughly $1,784/month — making it the single largest retirement expense in virtually every state.BLS Consumer Expenditure Survey 2024
- 14New York has the nation's second-highest cost of living index at 148.2, meaning everyday goods and services cost nearly 48% more than the national average.World Population Review / MERIC 2026
- 15Mississippi requires the lowest minimum savings to retire — approximately $680,000 — but ranks among the worst states for healthcare quality and outcomes.Plootus Research 2026; RetirementLiving.com 2025
Healthcare
🏥 Healthcare Cost Statistics in Retirement
$413,000
Lifetime Healthcare Est. for a Couple
Estimated amount some couples may need to cover medical costs throughout retirement — not including long-term care or assisted living.
Fidelity Retiree Health Care Cost Estimate 2024
$140K
Assisted Living Cost in Hawaii / Year
The nation's highest. In Mississippi, the same care averages under $55,000/year — an $85,000 annual gap.
Ooma State Retirement Cost Report 2025
- 16Annual healthcare costs for U.S. households average $5,177/year in non-retirement years — a figure that typically rises substantially in retirement as chronic conditions accumulate.BLS Consumer Expenditure Survey 2024
- 17Kentucky, Mississippi, West Virginia, and Oklahoma rank in the bottom 4 states for healthcare quality for seniors — despite having some of the lowest costs of living nationally.WalletHub 2026; America's Health Rankings 2024
- 18Massachusetts, Connecticut, and New York consistently rank among the best states for healthcare quality — but are also among the most expensive for retirement overall, illustrating the affordability-quality trade-off.U.S. News Best States for Healthcare 2025
- 19Minnesota ranks #1 for healthcare access and quality for seniors in 2026, leading in preventive care, healthcare outcomes, and access to specialists nationwide.WalletHub 2026; America's Health Rankings 2024
Taxes
📋 Retirement Tax Statistics
8 States
States with No Income Tax (2026)
Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, and Wyoming — zero state income tax on retirement income.
Empower / Kiplinger 2026
41 States
States Not Taxing SS Benefits (2026)
Up from prior years due to state-level eliminations — West Virginia, Missouri, Kansas, and Nebraska all eliminated their SS taxes 2024–2026.
SmartAsset Tax Analysis 2026
15.9%
New York's Total Tax Burden
The highest of any state — representing a severe headwind for retirees on fixed incomes.
Tax Foundation 2026
13.3%
California's Highest Marginal Rate
The highest state income tax rate of any state, applying to retirement income above certain thresholds.
SoFi / Kiplinger 2026
- 20New Jersey has the highest property tax rate of any state at 2.23%, alongside a steep 10.75% top income tax rate — making it one of the most expensive states for retirees on every tax dimension.RetirementLiving.com 2025
- 21Hawaii's income tax is 11% — the second-highest in the nation — but it has the lowest property tax rate at 0.32%, illustrating how different tax structures affect retirees differently by income level.Kiplinger / Plootus Research 2026
- 22Michigan fully phased out state income tax on most retirement benefits beginning in 2026, including defined-benefit pensions, IRA distributions, and qualifying retirement income.Michigan Public Acts (PA 4 of 2023, PA 24 of 2025)
2026 Limits
📈 2026 Retirement Account Contribution Limits
$24,5002026 Standard 401(k) Limit (↑ from $23,500)
$32,500401(k) Limit Ages 50+ (+ $8,000 catch-up)
$35,750Super Catch-Up Ages 60–63 (SECURE 2.0)
$7,0002026 IRA Limit ($8,000 if age 50+)
📌 Note: Roth IRA eligibility phases out for single filers with MAGI over $150,000 and joint filers over $236,000 in 2025. See the full Roth vs. Traditional IRA guide →
Source: IRS; NerdWallet 2026.
Planning Behavior
🧠 Retirement Behavior & Planning Statistics
- 2358% of adults over 60 worry they won't have enough money to retire comfortably, making retirement funding the most common financial anxiety for older Americans.RetirementLiving.com State of Retirement 2025
- 24Only 5.4% of Fidelity 401(k) participants changed their asset allocation in Q4 2025 despite ongoing market volatility — showing "stay the course" behavior is becoming more common.Fidelity Q4 2025 Retirement Analysis
- 2563% of Fidelity 401(k) participants had all their money invested in a target date fund in Q4 2025 — reflecting growing adoption of auto-diversification strategies.Fidelity Q4 2025 Retirement Analysis
- 26Workers who save 15% of income during their 40s are 80% more likely to retire on time compared to those saving less, based on Fidelity's Retirement Index data.Fidelity Retirement Index 2025
- 27Investors with a diversified mix of retirement account types (401k + IRA + taxable accounts) are 70% more likely to meet retirement goals than those using only one account type.GOBankingRates Retirement Report 2025
- 2845% of Vanguard plan participants increased contributions from 2023 to 2024 — the highest rate of contribution increases seen in the dataset's history.Vanguard How America Saves 2025
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Full Source List
- Vanguard Group — How America Saves 2025 (2024 year-end data, ~5M participants, 1,400+ plans)
- Fidelity Investments — Q4 2025 Retirement Analysis (24.8M participants, 26,200 plans)
- Fidelity Investments — Q1 2025 Retirement Analysis
- Federal Reserve — Economic Well-Being of U.S. Households in 2024 (federalreserve.gov)
- Federal Reserve — Survey of Consumer Finances 2022
- Social Security Administration — Monthly Statistical Snapshot, November 2025 (ssa.gov)
- Social Security Administration — Annual Trustees Report 2024
- Bureau of Labor Statistics — Consumer Expenditure Survey 2024 (bls.gov/cex)
- Bureau of Labor Statistics — National Compensation Survey 2024
- Missouri Economic Research and Information Center — Cost of Living Index Q3 2025 (meric.mo.gov)
- GOBankingRates — Cost of Living in Every State 2026
- IRS — Retirement Plan Contribution Limits 2026 (irs.gov)
- SmartAsset — Best States to Retire for Taxes 2026 (smartasset.com)
- Kiplinger — Retirement Taxes: How All 50 States Tax Retirees 2026 (kiplinger.com)
- WalletHub — Best and Worst States to Retire 2026
- United Health Foundation — America's Health Rankings Senior Report 2024 (americashealthrankings.org)
- Tax Foundation — State and Local Tax Burden Rankings 2026 (taxfoundation.org)
- Fidelity Investments — Retiree Health Care Cost Estimate 2024
- SECURE 2.0 Act (Consolidated Appropriations Act, 2023) — super catch-up provisions
- Ooma — Most and Least Expensive States for Retirees, 2025
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🏛️ Social Security Statistics