Tag: 401(k) balances
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 cohorts. I was stunned to see that retirement wealth, measured in…
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 have higher incomes. In other words, it presents the best face of t…
