Are You Saving Enough In Your 401-k Retirement Accounts? See How You Compare

by Hank Coleman

US News and World Report recently conducted a survey of 401-k participants and broke them down by age group, job tenure, and asset allocation.  This data gives you a great idea of where average Americans are at saving for retirement.

Americans in their 20′s….

Salary Range

Median
Account
Balance

Job Tenure

Average
Account
Balance

Type of
Investment

Share of 
Account
Balance

$20,000-$40,000

$6,759

0-2 years

$4,491

 Equity funds

48.1%

$40,000-$60,000

$15,510

2-5 years

$10,748

 Lifecycle Funds

13.8%

$60,000-$80,000

$33,155

5-10 years

$18,564

 Balanced funds

9.2%

$80,000-$100,000

$49,002

 

 

 Bond funds

6.6%

More than $100,000

$52,268

 

 

 Money funds

3.7%

 

 

 

 

 Stable value
funds

5.9%

 

 

 

 

 Company stock

8.4%

 

 

 

 

 Other

1.3%

 

 

 

 

 Unknown

2.7%

How Americans in their 30′s compare….

Salary Range

Median
Account
Balance

Job Tenure

Average
Account
Balance

Type of
Investment

Share of 
Account
Balan
ce

$20,000 – $40,000

$21,187

0-2 years

$11,502

Equity funds

56.8%

$40,000 – $60,000

$37,578

2-5 years

$23,024

Lifecycle Funds

9.3%

$60,000- $80,000

$64,611

5-10 years

$42,861

Balanced funds

7.4%

$80,000 – $100,000

$100,995

10-20 years

$62,207

Bond funds

6.9%

More than $100,000

$150,678

 

 

Money funds

3.0%

 

 

 

 

Stable value
funds

4.9%

 

 

 

 

Company stock

8.9%

 

 

 

 

Other

1.7%

 

 

 

 

Unknown

1.0%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Employee Benefit Research Institute and the Investment Company Institute surveyed 21.8 million participants in 56,232 employer-sponsored 401(k) plans at the end of 2007. 

Curious about how other age groups stack up against your accounts?  Check out the full story on US News and World Report’s site.

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{ 1 comment… read it below or add one }

Budgets are Sexy. January 15, 2009 at 2:30 pm

This is some great info! I may have to do a post myself about it ;) I’ll be sure to link back though…you have a cool site, congrats.

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