Full Average 401k Retirement video here: https://youtu.be/o_jCe6uB5us
Average 401k Balance By Age 2022: Vanguard Retirement Survey
Full Retirement & 401k Article Here: https://fortune.com/2022/07/07/average-401k-savings-by-age-vanguard/?showAdminBar=true
This video is showcasing average 401k balances and median 401k balances in retirement accounts with Vanguard retirement services. All of this information comes from Vanguard 401k retirement survey that was conducted in 2021.
This is both the average and the median of these 401k retirement accounts. Keep in mind the average 401k retirement account size will be skewed because of the large 401k retirement accounts at the top and the small 401k retirement investing accounts at the bottom. The median 401k balance is what we are going to focus on in this retirement video.
Median 401k retirement investing account values gives us the figure that is right in the middle and is a better indicator for 401k retirement savings.
What this 401k retirement survey showed which was surprising is that 3 in 10 401k participants have 401k balances below $10,000. It also showed that 3 in 10 401k participants had 401k balances above $100,000.
The average 401k retirement contribution in this study was 7.3%. If you are trying to save for retirement, the actual percentage that you need to save to retire comfortably is 10 to 15% of your gross annual income.
Retirement income strategies and retirement income planning are two big pieces to anyones retirement planning calculator. Whether you are wanting to know strategies for “retirement planning at 30”, “retirement planning at 40”, “retirement planning at 50”, or even “retirement planning at 60” understanding how much retirement income that you want versus how much you need gives you a roadmap to follow to and through retirement.
Here at Pearl Wealth Group, we run a trademarked retirement investment and retirement income plan for individuals and families who are wanting to retire called “Your Financial EKG™.” What we are trying to visualize is how long a persons retirement savings are going to last throughout retirement. If you are looking for early retirement planning tips or trying to saving for retirement in your 50’s, You Financial EKG™ is a great tool to help you understand where you are retirement planning. Retirement planning and retirement income strategies shouldn’t be complicated. They should just be done right.
**To schedule your virtual retirement and investment consultation with Drew, please select a day & time that works best for you: https://calendly.com/pearlwealthgroup/discoverycall ** ☎️
**Free Retirement Download: The Roadmap to Retirement:** 📊 https://yourfinancialekg.com/#download
❌ **Please make sure you talk with your CPA, Financial Advisor, Retirement Planner, or Investment Advisor Representative, before implementing any content from this channel. All videos are for informational and educational purposes only. None of the content, comments, responses, information, or any other item on this channel constitutes financial advice or recommendations. Please call Pearl Wealth Group at 813-807-5060 to go through your Retirement Income, Retirement Investments, or Retirement Plan in more detail.** ❌