Even Americans with only modest retirement funds may be shocked to learn how many people are in desperate straits: as in, they have no nest egg at all.

New research by the Federal Reserve shows that an astounding one in four Americans (including the 27% who consider themselves retired) have absolutely nothing saved.

And even if you have something tucked away, it may not be enough — though that is something you can change even late in the game.

Americans run an estimated $3.68 trillion behind in retirement savings, according to the Employee Benefit Research Institute. While this includes all people aged 35 to 64, those in their 60s still didn’t fare too well.

Here’s how your savings stack up — and what you can do if you’re falling behind.

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What’s the average?

A Vanguard study found those between 55 and 64 held an average of roughly $256,000. But this includes high income earners; breaking the figures down, it shrinks to a median of about $90,000.

Interestingly, much has changed in even the short time since 2021, the source of figures for Vanguard’s study. Last year, Vanguard noted that retirement savings actually increased, thanks to strong performance in the stock market.

But of course since then, Wall Street’s woes have persisted for much of this year, as even otherwise strong stocks have been resoundingly punished.

Which means 2023 numbers may drop significantly — though with dollar cost averaging, people who stick it out and keep investing will be rewarded if the market returns to full strength.

Is there a magic retirement number?

So how much should you have by the time you’re 60?

Retirement calculators like this one can help you get some answers. But the best thing Americans can do is head to a financial advisor who can help them reach their goals.