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Across all age groups, the average 401 (k) balance is $112,572. This number may be skewed by extremely high-earning outliers, however. The median may be a better figure to gauge where most ...
Below you can see the average and median 401 (k) balances for people in their 40s and beyond. The data is from Empower’s free online financial dashboard which is used by over 3 million Americans ...
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 average 401 (k) balance for retirees age 65 and older. The data comes from mutual fund giant and retirement plan manager Vanguard. In its 2023 "How America Saves" report, Vanguard says the ...
401 (k) 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.
In 2023, the average 401 (k) balance was $86,280, according to the BoA Institute report. That’s 15% higher than the balance recorded at the end of 2022.
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