According to a 2022 Charles Schwab survey, the average American thinks they need roughly $1.7 million to retire comfortably. And yet, based on a recent Vanguard study, the median retirement account balance is just $35,345.

The good news is, a comfortable retirement is very achievable if you understand the tools at your disposal. The tax advantages of 401(k)s and IRAs can help you not just reach your savings goals, but even exceed them.

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Source Fool.com