Tag: 401(k) balances
Decline reflects surprising drop in 401(k) balances for typical household. In preparation for a recent presentation, I asked for data to document the increasing dependence on 401(k)s as opposed to traditional defined benefit plans. One of the figures included total retirement wealth for households in the middle of the wealth distribution for five different…
Even when accounting for IRA assets, retirement savings are typically still modest. Vanguard recently released its 2019 edition of how “How America Saves.” This excellent publication summarizes the statistics for the defined contribution plans that the company administers. Vanguard tends to administer larger plans, so the plans are better designed than average and participants hav…
