Think you're ready to retire? Here's the average savings for a 60-year-old, plus 4 ways to catch up if you're behind

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One successful 5 Americans implicit the property of 50 doesn’t person immoderate status savings, according to a survey by the AARP (1).

And adjacent if you person thing tucked away, it whitethorn not beryllium enough.

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Federal Reserve (2) information shows that the median status savings for households with members betwixt ages 55 and 64 is astir $185,000.

While that mightiness look similar a lot, it is apt not capable to unafraid a comfy retirement.

Let’s bash the math. Further information from the Bureau of Labor Statistics finds the mean retiree spends $59,616 a year, oregon a small little than $5,000 a period (3). With the estimated mean Social Security cheque hitting lone $2,071 a period successful January 2026 (4), that’s a quality of astir $3,000 per month.

From these numbers alone, it’s wide today’s retirees volition request ample savings to span the spread — and they cognize it.

In a survey published by Clever Real Estate successful January 2026, American retirees said they believed the mean retiree volition request $823,000 successful savings and investments to screen their status successful the coming years (5). Meanwhile, the mean American believes the “magic number” is person to $1.46 million, based connected probe by Northwestern Mutual (6).

If these numbers are starting to marque your ain status program look trivial, not each anticipation is lost.

It’s ne'er excessively precocious to ramp up your status savings, truthful present are 4 tips to unafraid your nest egg.

1. Review your investing strategy with a pro

First up, you don’t person to navigate your status savings alone. People who enactment with fiscal advisors tin spot up to 3% accrued returns done a operation of plus allocation, concern selection, systematic rebalancing and taxation management, according to a study by Envestnet (7). This is backed up by probe from Vanguard, which suggests investors tin spot a perceived worth adhd of 3% erstwhile moving with an advisor (8).

So, if you privation to guarantee you’re maximizing your status contributions, it could wage to talk to a qualified fiscal advisor.

Advisor.com connects you with licensed fiscal professionals successful your country who tin supply personalized guidance.