This Is the Average 401(k) Balance by Salary -- Plus 1 Nearly Effortless Way to Save More

Contributing to a 401(k) is one of the easiest and most effective ways to save for retirement.The 401(k) offers a contribution limit of $23,500 per year in 2025, compared to just $7,000 per year for IRAs. When you set up direct transfers from your paycheck straight to your 401(k), you can also set your savings on autopilot, helping you save more over time.But just how much does the average American have stashed in their 401(k)? It varies based on a few factors, such as age and career length. But there's also a stark difference by salary range. No matter how much you have in your account, though, there's one incredibly simple way to save more.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool