How Much You Should Save In Your 401K By Age - 2024 Edition!

Investments are the roots of financial security; the deeper they grow, the stronger your future will be."

I’m about to be 40 and haven’t watched this video and know I don’t have anywhere near enough

Do you recommend joining a financial advisor?

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family...

Damn, I’m killing it 🔥

I usually look up your videos for updates! Our government has no idea how people are suffering these days. I feel for people with disabilities not getting the help they deserve. Thank you Mrs Emily L Romano, imagine investing $12,000 and received $305,500.

Crazy how low these average balances are given that it’s suggested to have 4-7x your average salary.

Im 25 about to turn 26 next year, just getting my first full time job and gonna start off with 10% because of the student loan debt my wife (shes currently on a pension plan) and I have hanging over our head. I find myself genuinely worried about saving for retirement because my job doesnt give 401k match. It feels like were barely making ends meet on this, we have 2 months ish of an emergency fund and live as frugally as we can. I just dont know how to prioritize saving for retirement, paying off debt, and getting ready for having kids (we both really want them but cant afford it yet financially or mentally)

Most 25 year olds arent making anywhere near 50k. Where are these numbers coming from?

33 112k in my 401k. Wish I controbuted more in my mid 20s. We live and learn i guess.

Is the guidance that you’re supposed to have those salary multiple in retirement fund or can we apply those to all types of savings eg standard stocks and mutual funds?

Holy moly. Those averages look low for the 50y olds! Whats the plan for those people? Do they plan to sell their house if they have one? 😮

Half million 32 years in the future. lol can you buy a car with that?

My target retirement fund in my 401(k) had poor returns compared to the S&P 500. I switched everything to the S&P 500, but I regret not doing it earlier. What are the best options for investing $200k for reliable cash flow?

You do realize that people leave jobs and 401k balances restart once the last one is rolled over. This is really dumb measurement 😂😂😂😂.

You always talk about 401k for 25 years old. You never mention about people who didn’t not have 401k early and started in their 30’s or 40’s

I'm 59yo. The figures for my age range are troubling. $280k is far short of ten years of salary. For the first time in my life I'm above average in this regard, after years of budgetary discipline. I will say I disagree with any advice that in retirement a person can live on less than 85-90% of salary. What are we doing in retirement? Sitting at home and watching broadcast TV?

Recently retired and unsure if my 401(k) and IRA will provide a stable future. i need an approach that will align with my risk tolerance and financial goals, i set aside $1m to achieve this. Do you suggest i get into stocks or buy a rental property?

Regarding money saved by a certain age, is it gross or net pay?

Financial independence while working a part time job is not financial independence.

I think 401k balances are low because people job hop and transfer their 401k into an IRA. A true analysis of retirement savings needs to factor in IRA and 401k.

This kind of video makes me more worried. I immigrated to the us with very little savings. I started my career that provides retirement plans at the age of 45. I am now 55. Lost almost all of my 200k roth in stock during the pandemic. I was so dumb and greedy.

All you have to do to retire comfortably is start early and max your Roth IRA every year. Add 10% to a 401k and you're really gonna be set. I'm 31, no debt, I max our Roth every year and do 15% of salary into 401k. Currently have $200k in retirement savings, and $545K net worth. I'm hoping the market stays strong enough to hit $1M by age 35. Without saving another dime I'll have $5M in retirement so I already consider myself financially free. Get aggressive on saving and investing early and it pays off big time.

$88K at 65+ is bleak. God save this country and Trump end inflation.

sheeesh! The averages and medians are really low...but so are the percentage of contribution. Wife and I increase our contribution 2 to 3% every year once we get our raises. Want to get to around 25% to 30% in a few years.

42 with 310k in 401k. House down to 112k with estimated value of 460k. Trying to be debt free in 4 years and max 401k every year till retirement

I'm 30yo M.
I have 56k in brokerage, 2k in roth Ira, 10k in 403b savings account, 5k cash sitting for bill and emergencies
And additional 2k in webull account. I'm trying to reach 100k by the end of 2025. Let's make that money.

I always wonder if all these calculations are in reference to a household or an individual. My wife and I a working professionals and are both heavily investing in our 401ks. Are we comparing ourselves to families who only have one person who is working?

im far above these averages, but i still feel like i dont have 10% of what i will need. i practice extreme austerity and for all the financial benefits it is still groolling. i often wonder if im missing out on life as i prepare for the future.

Because you asked, I am turning 36 this month with a 401k balance of $134,000 at a 10% contribution rate.

27 with 60k in 401k and 25k in my own Roth IRA. 12% in 401k and $200/month put in Roth. Should I just stick to my 401k or keep both accounts

I’m 28 and contributing 12% of my pretax income right now.

As a soon retiree, keeping my 401k on course after a rocky 2022 is top priority. I have been reading of lnvestors making up to 250k ROI in this current crashing market, any recommendations to scale up my ROI before retirement will be highly appreciated

I’m 28 and have 82k across my investment portfolio (only investments not counting cash)

Saving at least 15% of your income in a 401(k) is advised. To determine how much you should save given your age and salary, you can utilise internet calculators. You may make sure you have enough money for a comfortable retirement by contributing at least 15% of your income to a 401(k). You can benefit from compound interest and possibly increase your retirement savings over time by setting aside this much money.

@Humphrey can you please post links to your favorite 401k calculators and compound interest calculators? Thank you

These median and averages are too low for retirement, especially considering how the average lifespan is longer and longer. ~$200k at retirement is not enough to live on if you live an additional 20y. Practical advice here would be to max out your 401k if you can.

I’m 45 with 300k in my 401k. I don’t really care if I had 3k in my 401k or 3 million. I just know that I lived half my life already and every day I wake up it’s just one day closer to the grave.

What calculator is that? I can’t find it

well I have more than anyone under 25 so that makes me feel good at least lol

Guys, I don't think you are going to hit those targets with those contribution rates if your income is rising faster than inflation. The other "issue" is when you can't save more than 10-12% because you're hitting the 401(k) contribution limit.

Just turned 40, have $230k combined from 401k and Roth. Above the average but far behind of 2-3 times of my income as suggested. I was putting away 12% for a little while but needed to reduce to 8% to cover expenses especially with kids.

I am 34 and have $130K in my 401K account I started this account late but was contributing 21% for a long time, at this age I want to buy a house and get married, does it make sense to drop that to 6% (to get matched) and focus on saving for a house and other expected expenses? Will this hurt me greatly in retirement?

67!? Who the hell wants to work until 67?

I'm 52 and only around 100k in regular 401k i'm screwed ahhh

Do you talk about balancing Roth IRA contributions vs only 401k and tax consequences in retirement?

I feel behind

I Hit 12k today trading. Started last month 2025. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject. thanks to Louise O'Brien for helping me achieve this.

Is the x salary saved target based on takehome pay?

Thanks for watching. How's your 401k balance? Let me know in the comments. Also...plz subscribe 🥹