I just read that the average 401k balance for people my age is only $40,000. I thought it would be way higher.

2 comments

2 Comments

Honestly 40k sounds high to me lol. Most people I know are just trying to pay off student loans or save for a house down payment.

skylerr238d ago

My cousin saved 40k in three years by putting 500 a month into a high yield savings account. It adds up faster than you think if you automate it. The key is making the transfer right after payday so you don't miss the money.