How does your saving for retirement compare to nest eggs built by other people your age? Are your IRA and 401(k) balances bigger? Smaller?

If you are an active saver, chances are that your savings for retirement are much bigger than the average American’s.

Active savers — in this case, Americans who own an IRA and-or a 401(k) account in the custody of Fidelity Investments — had savings for retirement of $215,400 as of Sept. 30, according to new data IBD has obtained from Fidelity.

In contrast, the average for all working-age families is shockingly low. Their median nest egg was a paltry $5,000 as of 2013, the latest year for which the Economic Policy Institute has data. That’s because many working-age families had little or zero savings.

As recently as 2019, the saving for retirement of 15% of Americans amounted to a grand total of zip, according to Northwestern Mutual.

Even many Americans who are closest to entering retirement have scant retirement savings. Seventeen percent of baby boomers had less than $5,000 saved for retirement savings. And 20% had less than $25,000.

Saving For Retirement: Savers Vs. Nonsavers

Like the sports cliché says, you can’t win if you don’t play. And that applies to retirement savings too. While many Americans have little if any savings, people of all ages who make the effort to save show the benefits of growing retirement balances.

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