The “How America Saves 2022” report referenced recently by CNBC might give you that information. The report states the average retirement savings account balances by age, indicating that for those within the 55 to 64 age bracket the average savings account balance is $256,200 and for those age 65 and older, the average savings account balance is $280,000. Besides age, the article tells us that there are many other factors influencing retirement savings, such as income and how long an employee has worked for a company. Not surprisingly, older employees who have been working longer tend to have higher savings account balances than those just beginning their careers. If you are concerned you may not have saved enough, call us to learn about options that will still provide you an income you can’t outlive. We’re always here to help.