Savers in these 10 states have the highest average retirement nest eggs

• Empower recently shared the 10 states with the largest average retirement nest eggs.
• Northeastern states generally lead in retirement savings due in part to higher salaries.
• The average US retirement stockpile is $498,000, with top states exceeding this by at least $49,000.

People often don't feel like they're putting enough away for retirement.

A Northwestern Mutual analysis of January 2024 data from The Harris Poll showed an average gap of more than $1 million between adults' desired retirement savings and their current savings balances.

However, according to data from Empower, a retirement plan provider, savers in some states are ahead of others when it comes to retirement account balances.

The firm conducted an online survey of 1,011 US adults in April and calculated the average retirement savings amounts by state, taking into account pension plans, IRAs, and 401(k)s.

By and large, the states in the Northeast are outpacing the rest of the country. But there are various factors at play, Empower said, like state taxes, local average salaries, and cost of living.

And naturally, savings increased along with age.

"According to Empower Personal Dashboard™ data in September 2024, the average 401(k) balance — one key measure of overall personal savings and investments — clocks in at $293,695," the report said. "For people in their 50s approaching retirement age, the number jumps to $583,231."

The average retirement savings across the US is $498,000, the survey found. Below are the 10 highest-ranking states for savings balances, all exceeding the national average by at least $49,000.