Most Americans can contribute up to $19,500 to a qualified 401(k) retirement savings account every year — but how many actually are?
Unfortunately, the average American family has only the equivalent of $59,000 set aside for retirement savings, according to the latest Federal Reserve Survey of Consumer Finances. Assuming the family contains two adults to account for — and not every family does — that’s $29,500 per person to live on after almost a lifetime of saving.
And aside from retirement, there’s also the opportunity to earn compound interest on your money through an investment vehicle such as ETFs and/or mutual funds. However, it’s not always clear what a person’s portfolio should look like, since there’s no one right answer that works for everybody.
Your lifestyle differs from your friends, neighbors, and colleagues — so it’s better to not get lost in the comparison game when assessing the strength of your financial portfolio. However, it is nice to have a barometer as to what most people do to successfully save and invest for retirement.
Ahead, we go over 2021 data from all users with recent login activity who signed up for a Personal Capital account prior to or on Jan. 1, 2021. Consider this data inspiration for investing in 2022, so you can see what the average balance in retirement accounts were compared to cash assets, credit card debt, and other loans.
2021 Summary: What’s Inside Personal Capital Users’ Portfolios?
A complete financial portfolio includes all accounts, including debt. A person’s net worth would not be accurate without factoring in how both their assets (cash, investments, properties) and liabilities (debt) compare to one another. Net worth is calculated by subtracting what you owe to creditors from cash in the bank and assets you currently own.
Here’s a snapshot of the average and median balances of retirement vs. credit card balances for Personal Capital users in 2021:
- Average Balance in Retirement Accounts: $414,000
- Median Balance in Retirement Accounts: $123,000
- Average Credit Card Balance: $6,100
- Median Credit Card Balance: $2,600
When we dig deeper, we find even more revealing information.
Average Account Balances by Age
It’s normal for your financial portfolio to fluctuate with age, lifestyle factors, and circumstances. Here’s a breakdown of account balances by decade across the average Personal Capital user’s lifespan.
NOTE: The people who use the Personal Capital Dashboard tend to adhere to smart money practices: maintaining a comfortable emergency fund, contributing regularly to their retirement accounts, and optimizing their investments for tax efficiency. As indicated, many users also have trust funds and investments that can add to one’s net worth starting out at an early age. Take your own personal circumstances into consideration when you look at the data ahead.
| Annuity | Car Loans | Cash in Checking | Cash in Savings | Cash (Other) | Credit Debt | Crypto | Educational | ESPP/ESOP/Stock Options | Investments | Retirement Investments | Mortgage(s) | Other Loans | Student Loans | Trust Accounts | |
| 20s | $40,483 | $14,830 | $10,895 | $15,845 | $10,252 | $3,511 | $90,919 | $20,368 | $99,147 | $82,807 | $73,895 | $278,974 | $158,538 | $38,146 | $524,523 |
| 30s | $87,493 | $18,357 | $29,229 | $35,434 | $28,148 | $6,568 | $137,232 | $47,942 | $195,030 | $228,602 | $231,572 | $337,526 | $312,713 | $66,521 | $948,612 |
| 40s | $146,014 | $20,997 | $45,037 | $56,585 | $50,717 | $9,379 | $375,731 | $115,363 | $287,136 | $479,589 | $563,402 | $348,109 | $348,371 | $55,396 | $1,296,867 |
| 50s | $226,213 | $19,989 | $50,167 | $63,961 | $68,357 | $9,250 | $224,643 | $140,064 | $347,253 | $740,754 | $949,521 | $306,998 | $284,599 | $56,580 | $1,518,901 |
| 60s | 292513 | $17836 | $50,350 | $72,834 | $98,337 | $7,274 | $282,614 | $97,643 | $290,423 | $926,911 | $1,190,361 | $242,651 | $224,466 | $47,438 | $1,413,214 |
| 70s | 306488 | $15696 | $47,703 | $77,017 | $113,729 | $5,842 | $150,377 | $103,173 | $249,258 | $1,059,591 | $1,153,992 | $243,703 | $220,229 | $54,198 | $1,512,988 |
| 80s | 258292 | $9755 | $53,968 | $74,265 | $118,529 | $4,246 | $106,323 | $172,514 | $138,455 | $1,212,126 | $828,772 | $268,949 | $167,965 | $1,297,086 |
Retirement Contributions by Age
Interestingly, the count of users who made a retirement contribution in 2021 declined compared to 2020, but the total amount contributed went up. Here’s a snapshot of how much more than 400,000 Personal Capital users contributed to their retirement accounts this year.
| Age | 2020 Median Retirement Contribution | 2020 Average Retirement Contribution | 2020 Count of Users (that made a retirement contribution) | 2021 Median Retirement Contribution | 2021 Average Retirement Contribution | 2021 Count of Users (that made a retirement contribution) |
| 20s | $6,533.97 | $11,752.50 | 75,120 | $8,740.06 | $14,535.18 | 75,448 |
| 30s | $11,339.84 | $20,952.22 | 180,799 | $15,111.89 | $24,708.40 | 161,315 |
| 40s | $15,077.22 | $30,668.91 | 101,160 | $19,500.00 | $35,358.68 | 88,400 |
| 50s | $16,308.47 | $39,388.24 | 56,361 | $20,702.51 | $42,445.24 | 49,127 |
| 60s | $12,533.79 | $41,745.77 | 21,975 | $14,789.92 | $44,730.37 | 17,570 |
NOTE: This data was pulled as of 12/15/2021, making 2021 technically short 15 days compared to 2020. This isn’t a huge deal in the grand scheme of things, but something to note is that the contributions are slightly understated for 2021.
What Funds Users Contributed to in 2021
Do you know where your money went this year? Ahead are the top 50 investment holdings of Personal Capital users, ranked by the total dollar amount invested.
You’ll notice that the majority of people hold mostly ETFs and mutual funds, with a sprinkling of blue-chip stocks.
| Symbol | Holding Type | $ Amount | Number of Users |
| VTSAX | mutualFund | $16,128,874,662 | 108,656 |
| AAPL* | stock | $13,275,488,670 | 217,634 |
| FXAIX | mutualFund | $8,539,112,802 | 111,928 |
| VFIAX | mutualFund | $8,458,957,671 | 91,015 |
| VTI | ETF | $7,687,095,480 | 108,125 |
| TSLA* | stock | $7,114,706,333 | 110,831 |
| AMZN* | stock | $7,090,864,841 | 132,457 |
| MSFT* | stock | $6,929,701,507 | 140,530 |
| VMFXX | moneyMarketFund | $4,673,484,730 | 168,067 |
| SPAXX | moneyMarketFund | $3,653,920,956 | 142,708 |
| VTIAX | mutualFund | $3,651,043,253 | 53,127 |
| FB* | stock | $3,387,316,145 | 82,290 |
| VBTLX | mutualFund | $2,873,372,018 | 53,016 |
| FDRXX | moneyMarketFund | $2,725,901,914 | 95,095 |
| VIIIX | mutualFund | $2,573,761,191 | 36,324 |
| FSKAX | mutualFund | $2,484,695,067 | 29,813 |
| NVDA* | stock | $2,430,490,530 | 70,936 |
| SCHF | ETF | $2,343,353,119 | 26,038 |
| GOOG* | stock | $2,320,278,750 | 52,948 |
| SPY | ETF | $2,285,007,892 | 28,723 |
| VOO | mutualFund | $2,114,629,952 | 77,851 |
| GOOGL* | stock | $2,101,886,526 | 61,536 |
| VINIX | mutualFund | $2,075,630,256 | 31,012 |
| VTI | mutualFund | $1,991,312,601 | 60,683 |
| AAPL* | employeeStockOption | $1,777,514,061 | 4,101 |
| VOO | ETF | $1,757,321,630 | 40,804 |
| QQQ | ETF | $1,723,377,753 | 36,635 |
| IVV | ETF | $1,529,836,736 | 18,758 |
| FCNTX | mutualFund | $1,451,969,636 | 21,522 |
| SPY | mutualFund | $1,451,856,821 | 20,258 |
| VWENX | mutualFund | $1,385,884,125 | 12,454 |
| SWPPX | mutualFund | $1,385,194,436 | 28,690 |
| VXUS | mutualFund | $1,356,299,807 | 22,590 |
| VTIVX | mutualFund | $1,315,098,144 | 18,161 |
| VIGAX | mutualFund | $1,306,487,633 | 21,265 |
| VSMAX | mutualFund | $1,297,249,760 | 40,931 |
| VIMAX | mutualFund | $1,237,976,498 | 33,159 |
| VFIFX | mutualFund | $1,203,249,115 | 23,888 |
| FXNAX | mutualFund | $1,199,856,337 | 31,574 |
| JPM* | stock | $1,173,717,250 | 52,206 |
| IWM | ETF | $1,129,824,871 | 31,009 |
| VWIUX | mutualFund | $1,098,562,983 | 4,777 |
| DIS* | stock | $1,084,414,641 | 105,652 |
| FSMAX | mutualFund | $1,083,359,539 | 28,498 |
| VPMAX | mutualFund | $1,075,138,593 | 10,079 |
| BSV | ETF | $1,061,816,991 | 30,833 |
| VITSX | mutualFund | $1,040,530,842 | 9,404 |
| JNJ* | stock | $1,025,582,880 | 59,164 |
| VFORX | mutualFund | $1,015,333,190 | 12,506 |
Meanwhile, here are the 50 most popular investment holdings, ranked by number of users who have the investment.
| Symbol | Holding Type | $ Amount | Number of Users |
| AAPL* | stock | $13,275,488,670 | 217,634 |
| VMFXX | moneyMarketFund | $4,673,484,730 | 168,067 |
| SPAXX | moneyMarketFund | $3,653,920,956 | 142,708 |
| MSFT* | stock | $6,929,701,507 | 140,530 |
| AMZN* | stock | $7,090,864,841 | 132,457 |
| FXAIX | mutualFund | $8,539,112,802 | 111,928 |
| TSLA* | stock | $7,114,706,333 | 110,831 |
| VTSAX | mutualFund | $16,128,874,662 | 108,656 |
| VTI | ETF | $7,687,095,480 | 108,125 |
| DIS* | stock | $1,084,414,641 | 105,652 |
| FDRXX | moneyMarketFund | $2,725,901,914 | 95,095 |
| VFIAX | mutualFund | $8,458,957,671 | 91,015 |
| FB* | stock | $3,387,316,145 | 82,290 |
| VOO | mutualFund | $2,114,629,952 | 77,851 |
| NVDA* | stock | $2,430,490,530 | 70,936 |
| T* | stock | $837,471,212 | 70,137 |
| GOOGL* | stock | $2,101,886,526 | 61,536 |
| VTI | mutualFund | $1,991,312,601 | 60,683 |
| JNJ* | stock | $1,025,582,880 | 59,164 |
| VWO | stock | $540,482,587 | 57,149 |
| VEA | stock | $775,738,629 | 54,701 |
| VWO | mutualFund | $621,907,713 | 53,280 |
| VTIAX | mutualFund | $3,651,043,253 | 53,127 |
| VBTLX | mutualFund | $2,873,372,018 | 53,016 |
| GOOG* | stock | $2,320,278,750 | 52,948 |
| BABA | stock | $657,511,824 | 52,596 |
| JPM* | stock | $1,173,717,250 | 52,206 |
| PFE* | stock | $639,985,375 | 51,880 |
| VZ | stock | $676,952,881 | 51,690 |
| V | stock | $995,305,608 | 51,397 |
| BAC* | stock | $854,540,641 | 49,362 |
| KO* | stock | $409,941,070 | 49,344 |
| PYPL* | stock | $665,541,967 | 48,534 |
| NFLX* | stock | $874,121,263 | 48,247 |
| WMT* | stock | $637,462,989 | 47,588 |
| XOM* | stock | $818,568,464 | 47,436 |
| SBUX* | stock | $531,373,008 | 47,368 |
| SQ | stock | $670,849,844 | 46,695 |
| INTC* | stock | $688,595,862 | 46,151 |
| AMD | stock | $729,182,458 | 45,870 |
| VNQ | mutualFund | $477,352,345 | 45,220 |
| VEA | mutualFund | $685,576,012 | 44,535 |
| BA* | stock | $588,366,628 | 43,229 |
| COST* | stock | $790,588,505 | 43,000 |
| CSCO | stock | $713,763,022 | 42,691 |
| HD* | stock | $924,570,380 | 42,638 |
| CRM* | stock | $733,142,994 | 42,146 |
| VSMAX | mutualFund | $1,297,249,760 | 40,931 |
| BNDX | mutualFund | $520,470,493 | 40,840 |
| VOO | ETF | $1,757,321,630 | 40,804 |
* Personal Capital Advisors Corporation core strategy holdings as of 12/31/2021
Bottom Line: Looking Ahead to 2022
Being “good with money” doesn’t mean that you are the highest-net-worth in your friend group or always have excess cash to throw around. Rather, it’s about knowing your goals and time horizon, then planning ahead to make sure you use whatever resources you have as wisely as you can.
That’s where having systems to help us invest and save become critical. We are more likely to reach big financial goals with a few simple actions. Consider the following:
- Download 3 Essential Steps to Financial Freedom, an actionable guide for a better financial life with insights from fiduciary financial advisors. The guide is free.
- Sign up for the Personal Capital Dashboard. Millions of people use these free and secure professional-grade online financial tools. You can use them to track debt paydown, analyze your investments, and plan for long-term financial goals.
Get Started with Personal Capital’s Free Financial Tools
Author is not a client of Personal Capital Advisors Corporation and is compensated as a freelance writer.
The content contained in this blog post is intended for general informational purposes only and is not meant to constitute legal, tax, accounting or investment advice. Compensation not to exceed $500. You should consult a qualified legal or tax professional regarding your specific situation. Keep in mind that investing involves risk. The value of your investment will fluctuate over time and you may gain or lose money. Any reference to the advisory services refers to Personal Capital Advisors Corporation, a subsidiary of Personal Capital. Personal Capital Advisors Corporation is an investment adviser registered with the Securities and Exchange Commission (SEC). Registration does not imply a certain level of skill or training nor does it imply endorsement by the SEC.
