Vanguard's 401(k) Survey - 2021 data

[Axtremus]

https://www.barrons.com/articles/retirement-401-plan-balance-51654783216

Anyway, it's a story based on Vanguard's survey of the 401(k) plans managed by Vanguard.

"Average" account balance is $142k.
"'Median" account balance is $35k.
When looking at those aged 55 to 64, the "median" account balance improves to $90k.

Not sure if Vanguard bothered to consolidate multiple accounts titled to the same person. Lots of folks don't bother rolling over their 401(k) accounts after they change jobs.

Shockingly, they find that 401(k) account balances largely correlate to income levels. Isn't that wild?!?!?!

Vanguard's massive report:
https://institutional.vanguard.com/content/dam/inst/vanguard-has/insights-pdfs/22_TL_HAS_FullReport_2022.pdf

[Mik]

That's sad.

[Horace]

You really need to combine all retirement account types, and exclude people who are in line for a livable pension. I suppose you would also include as a zero, anybody without retirement accounts or a pension.

[Jolly]

As of 6/21, the average LASERS benefit was 27,516/year. The pension is a 401(a). It is not subject to state income tax. Many members also have a 457(b), which is superior to a 401(k). Many also have other monies from IRA's, 401(k)'s, other 401(a)'s, 403(b)'s and other retirement vehicles, along with just regular investing in savings, stocks and bonds, etc. Some have Social Security, but that is often subject to WEP or in their spouse's case, GPO. A few, especially teachers in TRSLA, have annuities.

Also, some huge factors in retirement are debt load, monies from rental property or real estate sales and the lifestyle of the retiree.

Simple 401(k) balances may not be the best yardstick for how well someone does in retirement.