Consolidating 401 k plans

According to Vanguard, the average 401k plan balance was ~0,000 in 2017 and the median 401k plan balance was ~,000.If you get to 401(k) millionaire status, pat yourself on the back.

The same goes for people who are contemplating leaving higher paying, stable jobs to go work for startups which may have no 401(k) plan or most definitely have no 401(k) matching benefit since most startups are loss making.30% Equity / 70% Fixed Income (7.2% historical return): 401(k) millionaire in 22.2 years.20% Equity / 80% Fixed Income (6.6% historical return): 401(k) millionaire in 23 years.Thanks to the unrelenting rise in the stock market since 2009, there’s now a trend on social media to share your 401(k) balance, especially if it’s over a million bucks.Despite the distastefulness of bragging, just the fact that more people are talking about saving for retirement via their 401(k) is a good thing.

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