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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. ... too, you'd have at least double that amount. 2. Double ...
This is what the average and median 401(k) balances look like across all ages, plus a few ways to save even more. Three people sitting at a table and looking at a tablet. Image source: Getty Images.
While the average 401(k) participant has $272,588, the median balance for this age group is $88,488. Mathematically, that means half of participants have less than $88,488 in their accounts, while ...
In fact, Fidelity's summary of Q2 2023 data revealed a double-digit increase in average 401(k) balances for nearly every generation over Q2 2022. Gen Z saw their balances increase by 66% ...
A Roth 401(k): You do not get any upfront tax break with a Roth 401(k). You invest with after-tax dollars and defer your tax savings until retirement when you can withdraw money tax-free.
Here's what the average 401(k) balance looks like for those aged 55 to 64 -- as well as a few tips to boost your savings. Two people looking at a tablet. Image source: Getty Images.
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