Tag: average 401k balances
Meaningful balances require continuous coverage and for that we need a national mandate. It’s always interesting to look at Vanguard’s most recent edition of “How America Saves.” And it’s particularly interesting to get the numbers for 2023 – a good year for both the economy and the stock market. Indeed, participation rate, contribution rates, and…
The brief’s key findings are: Late Boomers have less retirement wealth than earlier cohorts, including surprisingly low 401(k) assets. To explain this drop, the analysis explored both changing demographics and labor market experiences. The results show that part of the drop is due to a decline in the share of Late Boomers who are White, married, and…