This Is the Average 401(k) Balance Across All Age Groups

Investing in a 401(k) is a powerful way to save for retirement. These plans boast higher contribution limits than IRAs, and some offer other perks like matching contributions -- making it easier to save more over time.How much you should have saved, though, will depend entirely on your situation and goals. The average worker expects to need around $1.8 million to retire comfortably, according to a 2024 survey from Charles Schwab, but some retirees will need far less or even more than that.While your target should be unique to you, it can sometimes be helpful to see where others your age stand on savings. This is what the average and median 401(k) balances look like across all ages, plus a few ways to save even more.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool