According to the Federal Reserve’s most recent Survey of Consumer Finances, the median retirement savings in the U.S. was estimated to be $86,900. This reflected an increase of 15% from 2019.
A separate study by Transamerica Center in 2023 revealed that millennials, those born between 1981 and 1996, saved only $49,000 in retirement funds, while Generation X, born between 1965 and 1980, saved $82,000.
