Retirement savings always feel like a "someday" goal, but most couples have no idea how their numbers stack up. At some point, you and your partner have probably asked the question: are we saving enough to stop working comfortably, or will we still be punching the clock at 80? It's hardly the kind of dinner-table chat anyone looks forward to, but it matters far more than the next vacation or home upgrade.
What Couples Really Have Saved
The Federal Reserve's latest numbers paint a mixed picture. On paper, the average household has about $334,000 in retirement accounts. That might sound reassuring until you realize averages are skewed by the ultra-wealthy. The median — the number that shows what the middle household actually has — is just $87,000. That means half of all households have less than $87,000 saved.
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Here's how savings break down by age:
- Under 35: average $49,000, median $18,800
- Age 35 to 44: average $141,000, median $45,000
- Age 45 to 54: average $313,000, median $115,000
- Age 55 to 64: average $538,000, median $185,000
- Age 65 to 74: average $609,000, median $200,000
So if you and your spouse are approaching retirement with less than $200,000 in the bank, you're not unusual — but you may also be in for a tough stretch.
What Experts Say You Should Have
Financial firms like T. Rowe Price raise the stakes. Instead of comparing you to the "average couple," they map out what you should have saved if you want to retire comfortably. And spoiler alert: their bar is much higher.
Household income $75,000: $412,500 by age 55 and $675,000 by age 65
Household income $100,000: $600,000 by age 55 and $1,000,000 by age 65
Household income $150,000: $975,000 by age 55 and $1,575,000 by age 65
Household income $200,000: $1.3 million by age 55 and $2,200,000 by age 65
Household income $250,000: $1.7 million by age 55 and $2,875,000 by age 65
For couples used to measuring progress by hitting a 401(k) contribution limit or paying off a mortgage, these figures can feel like a slap in the face.
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Why Couples Fall Behind
It's not laziness. It's life. You bought the house, you raised kids, you covered braces, college tuition, maybe even helped out aging parents. Now you're staring down retirement with a number that looks smaller than you'd hoped. Add in health care costs, rising insurance premiums, and the fact that retirement can last thirty years or more, and the gap between reality and those neat benchmarks makes sense.
How to Close the Gap
If your nest egg looks light compared to the averages or the expert targets, don't panic. You and your partner still have levers to pull:
- Increase retirement contributions while you are still working, especially if your employer matches
- Delay retirement by a few years to save more and boost your Social Security payout
- Consider downsizing or relocating to stretch your savings
- Look at part-time work or side income streams that keep cash flowing without the grind of a full career
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Being "average" doesn't guarantee comfort in retirement. For some couples, living below their means, owning their home outright, and skipping expensive travel may make a modest nest egg last. For others, the same balance won't come close once you factor in medical costs, housing, lifestyle choices, or even how long you expect to live.
The truth is, there's no single number that works for everyone. What matters is whether your savings line up with the life you want in retirement. That's where talking to a financial advisor can help, giving you a clear picture of what you already have, what gaps to fill, and how to get there.
Because the real measure isn't how you stack up against the average couple — it's whether you and your partner can afford the retirement you've envisioned.
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