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This is a terrible stat. Taking the people who are entering the workforce and averaging them with people who have spent a lifetime working. Not only that, but that’s just “retirement” savings. How many 20 year olds have retirement accounts?
The information would be far more realistic if it were grouped by decade of life.
Edit: Here. This is a little better
Savings
Retirement savings
Still very bleak. Nobody is retiring comfortably on $60k, much less $10k.
Might be worth factoring in SS, as that's the real practical retirement savings people rely upon.
The $60k represents remaining savings at age 80-89.
Look at the 60-69 column for what people have around the time they start retiring. But not that those are means, not median figures, so are skewed by the US's vast levels of inequality.
If by "average," they mean "mean," that's not a useful figure, since it's skewed by the disproportionate rewards going to the rich. And that's what that chart looks like. There's no way that the median for US people in their 60s is anywhere near $200k unless that involves some bullshit like imputing an NPV to their social security entitlement.
OK, so I did some searching.
Here's a more informative set of stats and charts: https://dqydj.com/retirement-savings-by-age/
The age 60-64 median according to their more rigorous methodology is $10,400, not $200k.
Median, not average, so much better at showing this situation than mean but it's still not great. I agree that it should be broken up, but the difficulty is how you define the grouping will have a significant impact on the results, especially in early and later years.
I'd prefer median by age graphed by age. Average by any grouping will skew heavily if there is a lot of variance, and I absolutely expect there is in the US. A box-and-whisker plot could also be ideal here, but you still have the grouping problem.