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Reply to "Only 100k in 401k at 50"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I don't have data to back up my claim but if I had to guess I'll say the median 401k balance for a 50 years is around $100k and the average probably around $500k. There is big income disparity between college and non cell grads. [/quote] I just looked it up and that was a good guess. From federal reserve survey of consumer finances it’s 115k/313k for the 45-54 age range. [/quote] From Fidelity, The average 401(k) balance for individuals in their 50s is around $592,285, with a median balance of $252,850. Some data sources show a range between $199,900 and $592,285 for those in their 50s. Fidelity found that 50-54 year olds had average balances of $199,900, while 55-59 year olds had $244,900. [/quote]
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