Tag: 401k balances
Abstract For most workers, 401(k)/IRA assets represent the main source of retirement savings outside of Social Security. These accounts can generate significant wealth if workers contribute consistently from a young age, keep their money in their accounts, and minimize their investment fees. However, most workers have 401(k)/IRA balances at retirement that are substantially below their…
The brief’s key findings are: Taking away inheritances from households that have them reduces the NRRI by less than one percentage point. Inheritances could become more prevalent in the future due to unspent 401(k) balances, but increasing future inheritances has only a minimal effect. The reasons for the modest impact are: the majority of households…
