Money Guy Show Are You Saving Enough? 401(k) Balances by Age Revealed!
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May 16, 2025 Discover how your 401(k) balance measures up with insights from Fidelity's latest data. Learn strategic saving tips for your 20s through your 60s, from maximizing employer contributions to navigating smart investment strategies. Find out the importance of automatic contributions and early saving habits to build a strong financial foundation. Explore how to avoid common pitfalls and reassess your financial plan as you approach retirement, ensuring you're on track for a secure future.
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Automate 401(k) Contributions
- Automate your 401(k) contributions to build wealth effortlessly.
- Automated investing supports disciplined, consistent saving and buy-and-hold behavior.
Power of Early Investing
- Starting to save and invest early lets compounding growth do most of the work.
- Delaying savings drastically increases the amount you need to save later for the same goal.
Saving Habits in Your 20s
- Live below your means and avoid accumulating debt in your 20s.
- Start saving and investing early, even small amounts, to leverage time and growth potential.