What's the Average 401(k) Balance by Age?

bee

Written before, but it was a reminder article for me so I make sure I have enough for my remainder.

It's one of those rules of thumb that has a lot of thumbs:

If you are earning $50,000 by age 30, you should have $50,000 banked for retirement. By age 40, you should have three times your annual salary. By age 50, six times your salary; by age 60, eight times; and by age 67, 10 times. If you reach 67 years old and are earning $75,000 per year, you should have $750,000 saved.

link:
whats-average-401k-balance-age

bee

The other piece of the retirement puzzle...Social Security:

The Social Security Administration states that its retirement benefits are designed to replace only about 40% of the average worker's wages.

https://ssa.gov/planners/retire/
and,
https://ssa.gov/OACT/quickcalc/

Crash

40 PERCENT LAUGH.