That’s how much – or little – the standard American has in a 401 (okay)

Current data on how much money individuals have set aside in their 401(ok) plans highlights how far most Americans should go to meet their retirement savings goals.

As of the third quarter, 401(k) members whose plans were managed by Constancy Investments had a median balance of $23,800, according to the wealth management company’s latest data. Savings were even slimmer for other forms of retirement plans, with median savings of $20,600 for 403(b) accounts and $14,500 for individual retirement accounts.

A measure of how many individuals are more likely to fall short: An August survey by brokerage Charles Schwab found that Individuals say they want $1.8 million to retire comfortably.

Constance’s data, which is based on an assessment of the roughly 45 million retirement accounts it manages, also reveals wide variations in account balances across generations. Perhaps not surprisingly, given that they have had more time to avoid wasting, baby boomers lead all groups in money saved with an average of $212,600 saved in 401(k) accounts, $196,600 in 403(b) accounts, and $201,640 in IRAs.

But many baby boomers are heading toward retirement and not use a saved penny, a Credit Karma investigation uncovered earlier this year. Likewise, millions of Technology-X users have only $40,000 in savings, according to a July report from the National Institute on Retirement Safety.

The best way to strengthen a 401(ok) balance is to funnel your employer’s pay raises into the retirement account, according to Kamila Elliott, a certified financial planner in Georgia. Elliott told CBS News earlier this month that Americans don’t make changes to their employer-sponsored retirement accounts as often as they want.

“They automatically enroll in the 401(k) plan, but they never increase their contribution as they make more money,” Elliott said.