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Average 401(k) balance: $21,200 The state of Louisiana has a slightly higher average 401(k) balance than Mississippi at $21,200. The $1,000 difference could be attributed to the slightly higher ...
Let's also say your employer will match 100% of your 401(k) contributions up to 3% of your salary. If you're earning $60,000 per year, that would amount to $1,800 per year in matching contributions.
The wealthiest state for average retirement savings is Connecticut, at $545,754, with Alaska and Vermont following closely at $503,822 and $494,569, respectively.
Considering how important a 401(k) is to millions of Americans' retirement income, it makes sense to wonder how your balance compares to those in your age range. This Is the Average 401(k) Balance ...
Here's the average 401(k) balance for retirees age 45 to 54 The average 401(k) balance for those aged 45 to 54 lags behind older generations, coming in at $168,646 by the end of 2023.
1. Take advantage of the employer match. Many 401(k) plans offer matching contributions, where the employer will match a worker's savings -- usually up to a certain percentage of the employee's ...
The average 401(k) balance for five million Vanguard participants was $134,128 across all age groups in 2023, according to the firm's How America Saves report. However, this figure doesn’t ...
According to Vanguard's 2024 edition of its How America Saves report, the average balance among Vanguard 401(k) participants age 65 and older is $272,588. The median balance, which may more ...