This Was the Average 401(k) Balance at the End of 2023. How Does Yours Compare?
Saving for retirement is pretty much essential. If you don't contribute to a retirement plan during your working years, you'll risk ending up with a financial shortfall on your hands once your career wraps up.
If you think you'll manage just fine on Social Security alone, think again. If you earn an average wage, your Social Security checks will generally replace just 40% of your pre-retirement wages.
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Source Fool.com
