This Is the Average 401(k) Balance for Retirees Age 65 and Older
The average worker believes he or she will need a whopping $1.8 million saved for retirement, according to a 2024 survey from Charles Schwab.Retirement planning is a highly personal process, and everyone's situation will differ. You could need well over $1 million to retire comfortably, while others may be able to get by on far less. While the average 401(k) balance shouldn't necessarily guide your saving strategy, it can sometimes be helpful to see where you stand.Image source: Getty Images.Continue reading
The average worker believes he or she will need a whopping $1.8 million saved for retirement, according to a 2024 survey from Charles Schwab.
Retirement planning is a highly personal process, and everyone's situation will differ. You could need well over $1 million to retire comfortably, while others may be able to get by on far less. While the average 401(k) balance shouldn't necessarily guide your saving strategy, it can sometimes be helpful to see where you stand.
Image source: Getty Images.
