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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 ...
Age Group. Average 401(k) Account Balance. Baby boomers (ages 60 and up) $250,900. Gen X (ages 44 to 69) $191,900. Millennials (ages 28 to 43) $66,500. Gen Z (up to 27)
It's critical to have a savings goal unique to your situation, but sometimes it helps to see how you compare.
Median 401(k) balance: $14,933. Again, the average 401(k) balance is more than twice the median balance, reflecting the larger savings capacity of high-wage earners and those resolved to ...
Average Retirement Savings for Baby Boomers. According to the Transamerica Center for Retirement Studies, the estimated median retirement savings for Baby Boomer is $202,000. Based on the 4% Rule ...
For many Americans, balances in an employer-sponsored 401(k) retirement plan are on the lower end. Here are the 10 states with the lowest average 401(k) balances, as well as factors that come into ...
The IRS lets savers over the age of 50 make additional contributions to retirement accounts. For 2023, the contribution limit is $7,500. If you haven’t claimed your Social Security benefits ...
The average 401(k) retirement account balance hit $125,900 in the first quarter of 2024, up 6% from the fourth quarter last year, based on Fidelity data. ... Gen X workers beat baby boomer savers ...