If You've Got This Much Money in Your 401(k), You're Ahead of the Average Saver
If you recently caught a glimpse of your neighbor driving a new, fancy sports car down the street, it may have triggered a thought in your head along the lines of, "Hmm, I wonder what kind of salary he's pulling in."
It's natural to be curious about other people's finances. And while possessions like nice homes and cars aren't necessarily indicative of savings levels or financial health (hello, massive debt that many people take on), seeing how much money the average American has in their 401(k) plan might give you a good sense of where the typical retirement saver is at.
So without further ado, Vanguard reports that the average 401(k) balance in 2023 was $134,128. That's a 19% increase from 2022, fueled jointly by market gains and ongoing contributions.
Source Fool.com
