This Is the Average 401(k) Balance for Retirees Age 58 and Older

It's hard to know exactly how much you need to save for retirement. People's ideas of how they'll spend their retirement years vary widely, so what may be more than adequate for some individuals and couples might fall far short for others.That said, it's useful to know what others in your age group -- and those on the cusp of retirement in particular -- have saved. Fidelity is a great source for that data because the investment firm oversees $16.4 trillion in assets and more than 50 million IRA, 401(k), and 403(b) retirement accounts. (The latter accounts are for employees of public schools and other nonprofits.)If you're 58 or older, retirement is right around the corner, if not already here. According to Fidelity, these adults have an average balance of between $244,900 and $250,000 in their 401(k) accounts.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool