I'm regularly asked Am I Saving Enough? In this video, we'll explore how your 401k balance changes as you age. We'll show you the average 401k balance by age and discuss the factors that contribute to these changes, as well as discuss whether the average American is saving enough for retirement.
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401k's are an important part of retirement planning, and understanding your average 401k balance by age can help you make informed decisions about how to spend your retirement money. We'll explore the different factors that contribute to 401k balance changes and if you're feeling behind we'll help you understand how to start improving your financial situation!
0:00 How much are people saving?
0:23 Why Bill Gates can skew the average
1:15 The average 401k balance for a 2534 year old
1:51 The average 401k balance for a 3544 year old
2:34 The average 401k balance for a 4554 year old
3:54 The average 401k balance for a 5564 year old
4:59 The average 401k balance for a 65 year old
5:30 What does all of this mean?
7:12 What can you do if you're behind?