Reported 2 months ago
In 2023, the average 401(k) balance across various age groups saw significant changes, with an overall average of $134,128, according to Vanguard's report. Younger individuals, aged under 25, had an average balance of $7,351, while those aged 65 and older averaged $272,588. The report emphasizes the importance of consistent contributions and setting savings goals throughout one's career, urging participants to stay focused on long-term strategies despite market volatility.
Source: YAHOO