BillionaireClubCollc
  • News
  • Notifications
  • Shop
  • Cart
  • Media
  • Advertise with Us
  • Profile
  • Groups
  • Games
  • My Story
  • Chat
  • Contact Us
home shop notifications more
Signin
  •  Profile
  •  Sign Out
Skip to content

Billionaire Club Co LLC

Believe It and You Will Achieve It

Primary Menu
  • Home
  • Politics
  • TSR
  • Anime
  • Michael Jordan vs.Lebron James
  • Crypto
  • Soccer
  • Dating
  • Airplanes
  • Forex
  • Tax
  • New Movies Coming Soon
  • Games
  • CRYPTO INSURANCE
  • Sport
  • MEMES
  • K-POP
  • AI
  • The Bahamas
  • Digital NoMad
  • Joke of the Day
  • RapVerse
  • Stocks
  • SPORTS BETTING
  • Glamour
  • Beauty
  • Travel
  • Celebrity Net Worth
  • TMZ
  • Lotto
  • COVD-19
  • Fitness
  • The Bible is REAL
  • OutDoor Activity
  • Lifestyle
  • Culture
  • Boxing
  • Food
  • LGBTQ
  • Poetry
  • Music
  • Misc
  • Open Source
  • NASA
  • Science
  • Natural & Holstict Med
  • Gardening
  • DYI
  • History
  • Art
  • Education
  • Pets
  • Aliens
  • Astrology
  • Farming and LiveStock
  • LAW
  • Fast & Furious
  • Fishing & Hunting
  • Health
  • Credit Repair
  • Grants
  • All things legal
  • Reality TV
  • Africa Today
  • China Today
  • "DUMB SHIT.."
  • CRYPTO INSURANCE

This Is the Average 401(k) Balance for Americans 35 to 44

Let's face it -- retirement planning might not be top of mind when you're in your 30s or 40s. But if your employer offers a 401(k), it's worth taking advantage of, especially if they provide matching contributions.
However, if you're unsure how much to save in your 401(k) each year, we've taken a closer look to see what others between the ages of 35 and 44 are doing. Hint: It's not as much as the average American, but those in this age group are still making use of their employer-sponsored plans to avoid falling behind.

Image source: Getty Images.

Take a look at the average 401(k) balances for workers 35 to 44
Every year, Vanguard dives into the savings habits of 401(k) participants in its "How America Saves" report. In the latest report released in 2024, Vanguard found the average 401(k) balance across all age groups is $134,128. For those aged 35 to 44, however, the average balance is much lower at $91,281.
The median balance for this age group may be even more surprising at $35,537. However, this is close to the overall median 401(k) balance of $35,286, according to Vanguard's analysis of nearly 5 million retirement accounts.
For perspective, the median figure provides a clearer picture of what's typical -- half of 401(k) holders have balances that are higher, and half are lower -- while the average is skewed upward by those with the means to contribute more to their 401(k). It's also worth noting that the average balance tends to increase with age. So, if you can boost your income and manage your day-to-day expenses, you'll likely see your retirement savings grow over time.
Truth be told, it's difficult to compare your retirement progress to someone else's -- you likely have different goals and financial situations. However, knowing where your peers stand can motivate you to keep tabs on your own numbers. The more you track your progress, the better off you'll be when retirement comes.The $22,924 Social Security bonus most retirees completely overlook
If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known "Social Security secrets" could help ensure a boost in your retirement income. For example: one easy trick could pay you as much as $22,924 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. Simply click here to discover how to learn more about these strategies.
View the "Social Security secrets" ›The Motley Fool has a disclosure policy.

Welcome to Billionaire Club Co LLC, your gateway to a brand-new social media experience! Sign up today and dive into over 10,000 fresh daily articles and videos curated just for your enjoyment. Enjoy the ad free experience, unlimited content interactions, and get that coveted blue check verification—all for just $1 a month!

Source link

Share
What's your thought on the article, write a comment
0 Comments
×

Sign In to perform this Activity

Sign in
×

Account Frozen

Your account is frozen. You can still view content but cannot interact with it.

Please go to your settings to update your account status.

Open Profile Settings

Ads

  • Billionaire128 Liquid Gold Men’s Athletic Long Shorts

    $ 40.00
  • Original Billionaire128 Old School Bucket Hat

    $ 28.50
  • Premium Billionaire128 Women’s Racerback Tank

    $ 24.50
  • News Social

    • Facebook
    • Twitter
    • Facebook
    • Twitter
    Copyright © 2024 Billionaire Club Co LLC. All rights reserved