American workers in their 30s are holding steady with their 401(k) contributions, even though their balances have dipped due to market volatility so far in 2025.
That’s according to Fidelity, the largest retirement plan provider in the U.S., which manages more than 24 million 401(k) accounts. Its latest quarterly study breaks down average 401(k) balances by age group for the three months ending March 31.
Here’s how much people in their 30s have in their 401(k) accounts, on average:
Ages 30 to 34: $44,800Ages 35 to 39: $71,400
The year is off to a rough start, with average 401(k) balances for workers in their 30s declining by roughly 2% in the first quarter, according to data provided by Fidelity.
However, this age group has been relatively diligent in saving. Those ages 28 to 44 save an average of 13.5% of their pretax income, Fidelity reports, which is close to its recommended savings rate of 15%.
How 401(k) savings measure up to benchmarks
Fidelity recommends having one year’s salary saved by 30 and three times your salary saved by 40. For many workers, that target can be difficult to match, considering that median income for full-time workers in their 30s is roughly $60,000 to $70,000, according to Bureau of Labor Statistics data for the first quarter of 2025.
However, it’s worth noting that these benchmarks apply to total retirement savings, so savers may have more put away than what’s reflected in their 401(k) balance alone.
Even so, falling short of Fidelity’s targets is “something I see a lot of,” says Shaun Melby, a certified financial planner in Nashville. “There is a lot of ‘life’ that happens in your 20s and 30s that makes it difficult to max out retirement contributions.”
At that age, many people are paying down student loans, having children or saving for a home — all of which can strain finances, Melby says.
If you feel behind, consider gradually increasing your 401(k) contributions, even if it’s a small amount like $50. The eventual goal should be to maximize any employer match, since it gives your savings an extra boost at no cost, says Melby. Employer matches are often referred to as “free money,” since they are extra dollars your employer adds to your account when you make a contribution yourself.
The more you’re able to put in now, the more time those early dollars have to grow through compound interest, says Melby.
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