Are You Behind on Your 401(k)? The Savings Targets by Age (2025)
Answer
Ask me anything about this video:
What is the median 401(k) balance for individuals in their 20s according to the video?
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The median 401(k) balance for individuals in their 20s, according to the video, is $9,100.
What percentage of salary does the video recommend aiming to invest in your 30s?
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The video recommends aiming to invest 5% to 10% of your salary in your 30s.
How much extra can individuals aged 50 and older contribute to their 401(k) annually as a catch-up contribution?
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Individuals aged 50 and older can currently contribute an extra $7,500 to their 401(k) annually as a catch-up contribution. This brings the total potential contribution to $31,000 for the year, not including any employer match.
What is the suggested target portfolio balance for someone earning $90,000 annually who wants to maintain that income in retirement, based on the 4% rule?
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Based on the 4% rule, someone earning $90,000 annually would need a target portfolio balance of $2.25 million to maintain that income in retirement.