The Average 401(k) Balance for a 50-Year-Old May Surprise You. How Do You Compare?
The average retirement plan participants between the ages of 45 and 54 had an average balance of $168,646 in 2023, according to Vanguard.
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Understanding Catch-Up Contributions
Most retirement savings plans include a catch-up contribution ... money on taxes and reach your retirement goal. Source: Getty Images. Catch-up contributions help you save more for retirement ...