In 2026, the average 401(k) balance for Americans in their 60s is projected to be $568,040, a decrease from the average for those in their 50s. Many individuals express concern that this amount is insufficient for a comfortable retirement, with Baby Boomers estimating a need of $760,000 and Gen X $1.18 million. Experts recommend strategies like catch-up contributions, employer matches, smart investments, and financial advice to bolster retirement savings, noting that retirement income often includes Social Security and other investments.