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The average 401 (k) balance among near-retirees Vanguard reports that the average 401 (k) balance among Americans aged 55 to 64 is $244,750.
What is the average 401 (k) balance for those aged 45 to 54? The average 401 (k) balance for those aged 45 to 54 is $168,646 as of the end of 2023. That's according to Vanguard's How America Saves ...
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 maximizing their 401 (k) plan.
The report includes a breakdown of account balances among Vanguard 401 (k) participants, separated by age. Among all workers across generations, the average 401 (k) balance is $134,128, according ...
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 salary.
In the United States, a 401 (k) plan is an employer-sponsored, defined-contribution, personal pension (savings) account, as defined in subsection 401 (k) of the U.S. Internal Revenue Code. [1] Periodic employee contributions come directly out of their paychecks, and may be matched by the employer. This pre-tax option is what makes 401 (k) plans attractive to employees, and many employers offer ...
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