Here’s the average 401(k) balance of Americans in their 30s — how do you compare?

If you're in your 30s, retirement may appear to be something you don't need to think about just yet.

The sooner you begin saving for retirement, though, the more time your money has to grow.

Which is why, if you've been paying a portion of your paychecks to a 401(k) account on a regular basis, you've already taken important efforts to secure your financial future.

To calculate how much money the average American in their 30s had saved in their 401(k), we used data from Vanguard's 2021 How America Saves Survey. What they discovered was as follows:

Average 401(k) balance of 25–34 year olds: $33,272 (average); $13,265 (average) (median)

Average 401(k) balance of 35–44 year olds: $86,582 (average); $32,664 (average) (median)

Knowing how other people invest can help you figure out where you should be, but there are no hard-and-fast guidelines for how much money you should have in your 401(k).

This is because your personal retirement goals will vary depending on the type of retirement lifestyle you desire.

So, if your desired retirement lifestyle is less expensive than theirs, it's fine if you don't have as much money invested as they do.