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Personal Finance

“Average 401(k) Balance by Age”

“Ages 20-29

  • The average 401(k) balance was $11,800
  • The median 401(k) balance was $4,300
  • The average contribution rate was 7% of compensation

Ages 30-39

  • The average 401(k) balance was $42,400
  • The median 401(k) balance was $16,500
  • The average contribution rate was 7.8% of compensation

Ages 40-49

  • The average 401(k) balance was $102,700
  • The median 401(k) balance was $36,000
  • The average contribution rate was 8.5% of compensation

Ages 50-59

  • The average 401(k) balance was $174,100
  • The median 401(k) balance was $60,900
  • The average contribution rate was 10.1% of compensation

Ages 60-69

  • The average 401(k) balance was $195,500
  • The median 401(k) balance was $62,000
  • The average contribution rate was 11.2% of compensation…”

https://www.thestreet.com/retirement/401k/average-401k-balance?puc=yahoo&cm_ven=YAHOO&yptr=yahoo

This is a article I found interesting. This is a way to see if your 401k is above or below average.

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