If you scroll in your channel, you feel that everyone is using your 401 (K) maximum, inverting your home and buying gold rods for “fun”, you are not alone. However, the latest Fidelity pension report offers a much needed reality check: Most people do not go into early retirement-retirement-they are just trying to stay on the road.
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Fidelity Q4 2024 data provides more than $ 24.5 million. Wide participants in pension plans of 26,700 companies. Although it does not count savings in the mediation accounts, real estate or that dusty jar cash in your kitchen drawer, it is a strong view of how Americans are about to retire.
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This is how 401 (K) and IRA balances are actually stacked over time – and what can you say about your own pension game.
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Average 401 (K): $ 249,300
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Average IRA: $ 257 002
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Total: $ 506 302
Boomers are obviously distant, but even after decades of labor, most people do not look at the seven -numbers balance. Their average savings rate is 11.9% as well as 5% of employers. However, when retirement can take 20-30 years, it is not exactly “all left” money.
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Average 401 (K): $ 192,300
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Average IRA: $ 103,952
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Total: $ 296 252
Gen Xers, often notes the “Forgotten Middle Child”, “Gen Xers” encounters now or never. Many juggles with college science, aging parents and their dreams of retirement – and saved slightly less than $ 300,000, the pressure is real.
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Average 401 (K): $ 67,300
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Average IRA: $ 25,109
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Total: $ 92,409
Despite the deeper into the most important year, millennia has still caught up with. Student debt, housing expenses and late career starts do not help. Good news? Their contribution level increases-18.3% All-in to Roth 401 (K) S, and more than 70% use the target date.
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Average 401 (K): $ 13,500
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Average IRA: $ 6,672
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Total: $ 20,172
Only when starting, Gen Z does not hurt any records – yes. However, do not sleep: 81.5% invests in targeted date funds and almost one in five is already contributing to Roth 401 (K). In addition, their average savings percentage-7.2%-they seem to think long-term in the previous time than most times.