How Does Your Retirement Savings Compare to Others?

Ever wonder how your retirement savings compares to others? America’s largest retirement-plan provider has just released the average 401(k) balances according to age. For example, in the 2nd quarter of 2018, the average Fidelity 401(k) account balance for workers age 50 to 59 was $174,200. Fidelity also reports the average contribution rates by age. Keep in mind that these are folks with Fidelity 401(k) accounts – not the average Joe. Sadly, 1 out of 3 American citizens have under $5,000 saved for retirement. Fidelity estimates you need 10 times your final salary in savings if you want to retire by age 67. See what they recommend you have saved by your age:

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *