It's important to make sure that your retirement plan is staying on track; otherwise, you won't be financially self-sufficient by your planned retirement age. Comparing your 401(k) balance to the average person in your age group is one way to measure your progress. Keep in mind that the average person's plan might not necessarily reflect your individual needs and goals.

Also, recognize that a 401(k) is only a portion of most people's retirement resources, so your account balance doesn't capture all of the data. Still, comparing yourself to peers is a good way to determine if you need to adjust your current strategy.

The average balance in a 401(k) account for individuals between the ages of 55 and 64 is $207,874. However, this number is skewed by larger accounts. The median balance is only $71,168 for
people in that age group, so most households fall well short of the mean. Roughly three-quarters of households are below that $200,000 threshold.

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Source Fool.com