By 50, aim to have five to six times your annual income saved, according to Fidelity and T. Rowe Price. The average 401(k) account balance for people in their 50s ranges from $188,643 to $635,320, depending on which retirement plan provider's data you look at.

Retirement savers are generally putting more into their 401(k) accounts these days, but much of the money Americans are saving for their future doesn't end up lasting them until then.