Determining how much you need to have saved in a 401(k) in your late 40s and early 50s can be tricky because so many factors come into play. However, comparing your 401(k) balance to those of others in your age group can help you see how you stack up against your peers. Plus, it might motivate you to stash away extra cash to beef up your savings.

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The average 401(k) balance for those aged 45 to 54 is $168,646 as of the end of 2023. That's according to Vanguard's How America Saves 2024 report, which dives into savings habits of nearly 5 million account holders.

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Source Fool.com