How much does the average 60-year old American have in savings?

The average retirement savings for families aged 56-61 is $163,577. According to the Economic Policy Institute, the 56-61 age group (which can be considered “pre-retirees”) has an average retirement savings of $163,577. Using the 4% rule, this means that people who are reaching retirement age within the next several years only have enough savings to sustainably generate about $6,500 in annual retirement income.