Money Guy Show Average 401(k) Balance by Age (2024 Edition)
Apr 26, 2024
Discover the average 401(k) balance by age and the basics of 401(k) plans, employer matches, and vesting schedules. Learn how many millionaires are created by 401(k)s and get simplified strategies to reach your money goals faster. Explore the benefits of maximizing employer match, understanding fees in 401(k) plans, and maximizing wealth through consistent contributions. Dive into the importance of starting early in 401(k) savings and securing a financially stable future across different age groups.
Chapters
Transcript
Episode notes
1 2 3 4 5 6 7 8
Introduction
00:00 • 2min
Maximizing Employer Match and Understanding Fees in 401k Plans
01:48 • 16min
Maximizing Wealth with 401k Plans
18:12 • 6min
Encouraging Consistent 401K Contributions and Average Balances for 20-Year-Olds
24:20 • 2min
Maximizing 401(k) Savings Through Early Start
26:23 • 5min
Importance of Savings and Retirement Planning Across Age Groups
31:12 • 2min
Financial Planning and Savings in Your 40s for Retirement Security
32:53 • 2min
Strategies for Retirement Planning in Your 50s and 60s
34:30 • 3min