The article discusses the retirement savings of a 39-year-old with a $256,000 401(k) balance, emphasizing that this amount is well above the median savings for their age group. Despite concerns about adequacy, data from the Federal Reserve shows most Americans aged 35-44 have a median balance of only $45,000. The article encourages the individual to continue contributing to their retirement savings, noting that with an average market return, their balance could grow to approximately $2 million by retirement at age 65, which is significantly higher than the median for older Americans.
A balance of over $250,000 in your 401(k) at age 39 positions you significantly ahead of most Americans, enabling substantial future growth.
At 39, with a $256,000 401(k) balance and consistent contributions of 10-11%, you are on a strong path toward retirement success.
Collection
[
|
...
]