Here's How Much the Wealthiest Americans Have Saved for Retirement

By Kailey Hagen, CFP – Mar 8, 2026 at 4:00PM ESTKey PointsThe median retirement savings for Americans was $87,000 in 2022.This number was much lower for savers around the 50th percentile in household income. The wealthiest Americans have median savings of more than $500,000.I probably don't need to tell you that saving for retirement is difficult for many people. Or that the wealthiest Americans tend to lead vastly different lives than the average person. But it's one thing to know those things in an abstract way and another to see the hard numbers. Data from the Federal Reserve's Survey of Consumer Finances reveal that the retirement savings gap between the average and the richest Americans is the widest it's ever been. Image source: Getty Images. The median retirement savings for all Americans was $87,000 as of 2022. That's not very much to begin with. But when we separate savers into groups by income percentile, things get even worse for the typical saver. Those in the 40th to 60th percentile of savers have a median savings of just $39,000. Meanwhile, those in the 90th percentile or higher have median savings of $558,600. The average for this group is over $1.04 million. Obviously, it's a lot easier to save when you're earning well into the six figures. But this doesn't mean a comfortable retirement is completely out of the question if you're not upper class. With the right retirement savings strategies and regular contributions, it's possible to achieve your goal. Set aside what you can each month, even if it's only a few dollars. Your earliest contributions often turn out to be your most valuable because they're invested the longest. Set aside bonuses and tax refunds as well if you get them. And don't forget to celebrate your progress along the way.Read NextMar 8, 2026 •By Maurie BackmanHere's the Average 2026 Tax Refund.

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Before The Motley Fool, Kailey was a research analyst for Reviews.com focusing on credit and banking products. She is a Certified Financial Planner® and holds a bachelor’s degree in English from the University of Wisconsin-Madison.TMFKailey