How Much Should Be in Your 401(k) at 55?

Thinking about retiring in the next decade? Here’s a quick gut check: by 55, experts say you should have 7-8 times your salary saved up. But most folks are way behind, with the average 401(k) balance at just $244k. The good news? You can still catch up with bigger contributions and smart investing. If you’re behind, consider boosting your savings rate or using bonuses for your nest egg. It’s not too late to finish strong! #Business #MakeMoney #RetirementReady

9 days ago

CCrider

That's because the cost of goods are rising and salaries have barely moved in 30 years. Why? Greed.

Lake Orion, MI

Akinjide

Well, a lot of these jobs don’t pay enough for a person can put a lot of money into the 401(k) plan for instance, Macy’s and Amazon they don’t pay people enough, especially Macy’s. Macy’s doesn’t pay enough because they don’t respect their employees.

Tulsa, OK

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Nunya

the 401k isn't the only retirement vehicle. a smart investor has assets spread across different tax-type accounts (Roth, real estate, precious metals, etc)

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Monika Aiken

It's our money we should do what we want with it and take what we need without penalties. It's our choice . We are so controlled and there say free country . Right

Harker Heights, TX

Jose Saldana

1 to 2% raises with 9% inflation. hard to save and meet the expectations of a 401k. companies use 401k money to make investments, keep the earnings. while we pay a penalty for early withdrawal. makes no sense. we also have to pay taxes when we are eligible to retire and withdraw. put the money in a money market account or CD.

Minooka, IL

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The New #2

A white paper by a financial planner. Index funds. Save your money.

Holly Springs, NC

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Patrick Carter

I'm a Federal Employee for the Park Service, my checks are pretty healthy when I'm putting in overtime. 😁 i can go into the system and adjust how much I want taken out of my check to go in to my 401k.

Carlsbad, NM

Eric

$1.78 plus democrat tax, so $14,000.46.

Charlottesville, VA

glossonkj

I guess I will have to rob a bank.

Joliet, IL

timmy

Oh shiiiiit I’m screwed🙏🏼

Columbia, MO

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