I\u2019m that turd in the punch bowl, being frank and honest which makes some people very uncomfortable. Over the last 10 years, the 401(k) industry deserves much praise for doing a better job in terms of fees, transparency, education, and coverage. Yet, we have so much more to improve.<\/p>\n\n\n\n
The \u201caverage\u201d balance in a 401(k) retirement plan handled by Vanguard is $129,157. The median account balance is just $33,472. Half of their plan participants had a balance below $40,000 and about 30% had a balance below $10,000.<\/p>\n\n\n\n
While the industry isn\u2019t the reason that people save very little for retirement, but it does mean we have more work to do.<\/p>\n\n\n\n
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