Here Are the Average 401(k) Plan Balances by Income: How Do You Compare?
Vanguard, the 401(k) plan administrator, recently published average and median 401(k) balances by income in its How America Saves 2022 report. The data comes from 1,700 qualified Vanguard retirement plans encompassing nearly 5 million participant accounts.
You can use those balances as benchmarks to assess your own retirement savings efforts relative to others in your income bracket. Take a look at the numbers in the table below. And read on for the essential steps to reach -- and then surpass -- those average account balances.
Participant Income
Source Fool.com
