U.S. — Vanguard published its "How America Saves 2026" report in June 2026, finding the average 401(k) balance across Vanguard-administered plans was $167,970 at the end of 2025. The report is based on data from nearly 5 million defined contribution plan participants and included information from more than 1,300 workplace plans.

The average 401(k) balance saw a 13% increase from year-end 2024 to year-end 2025, while the median balance stood at $44,115 in 2025. The report indicated an increase in hardship withdrawals for the sixth consecutive year, with 6% of Vanguard participants making a hardship withdrawal in 2025, up from 5% in 2024. The median hardship withdrawal amount was $1,900 in 2025.

Gender-based disparities in retirement savings persisted in 2025, with the average 401(k) balance for men at $194,597 and for women at $146,476. Jeff Clark, head of defined contribution research for Vanguard and author of the report, said, "Women have lower balances on average due to income differences, that gap narrows significantly when comparing participants at similar income levels." He noted that women's balances were within 10% of men's among participants earning between $30,000 and $149,999.

For retirement savers in the $30,000 to $49,999 income range, women's average account balance was $31,806, compared to men's average of $31,288. Clark stated, "At comparable income levels, women are more likely to participate in plans and often save at slightly higher rates." He added, "They also tend to invest more consistently, using professionally managed options and trading less frequently — behaviors linked to stronger long-term outcomes."

Both men and women in the Vanguard study had an average of 6% of their assets in bonds and 3% in cash. Women allocated an average of 50% of their assets to target-date funds, while men held 42% of their assets in these funds.