This Is the Average 401(k) Balance for Americans Earning $50K to $75K per Year

Saving for retirement is challenging enough as it is, but it can be even more difficult depending on your income.The median wage among U.S. workers is around $60,000 per year, according to 2024 data from the Bureau of Labor Statistics. A 2024 survey from Bank of America also revealed that nearly half of Americans say they live paycheck to paycheck -- which likely doesn't leave a lot left for retirement.When it comes to saving, your goals will depend on your unique situation. That said, it can sometimes be helpful to see how others in similar circumstances are faring. Here's what the average 401(k) balance looks like among those earning incomes between $50,000 and $75,000 per year, plus one nearly effortless way to save more.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool