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 |
Job Tenure |
Average |
Type of |
Share of |
| $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 |
Job Tenure |
Average |
Type of |
Share of |
| $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 |
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.
{ 1 comment }
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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