
Average 401(k) Balance by Age (2023 Edition)
Money Guy Show
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How to Save for Retirement
The average 401k balance for someone in their 20s is right around $21,000. If you can save 25% starting at age 35, it's likely you'll be able to replace 80% of your pre-retirement income by the time that you get to normal retirement age 64. You're going to notice every decade that we go through, the closer you get to the retirement goal, us procrastinated or anybody who doesn't worry about retirement.
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