How big is the average nest egg?

[James48843]

That's what a lot of folks ask- how big is the AVERAGE nest egg of a USA worker?

Good article here at link-


https://www.investopedia.com/ask/an...m_source=yahoo&utm_medium=referral&yptr=yahoo

What Is the Size of the Average Retirement Nest Egg?

See how you compare—and whether you have enough saved for retirement.

What is the size of the average retirement nest egg? It depends on what you mean by "average."

A 2019 analysis of more than 30 million retirement accounts by Fidelity Investments found that the average balance in corporate-sponsored 401(k) plans at the end of 2018 was $95,600. For traditional, Roth, and rollover IRAs, the figure was $98,400. And for 403(b)s and other defined-contribution retirement plans in the non-profit sector, it was $78,700. Those numbers were down about 7.5% to 8% on average from the same quarter of the previous year, due largely to a downturn in the stock markets in late 2018.


Generational Divides

Of course, overall averages like these only tell us so much. As you might expect, young workers tend to have less money saved for retirement than older workers do, in part because their salaries are usually lower and they haven't had as many years to contribute to their retirement accounts.

The gap, as it turns out, is pretty wide. A June 2018 report from the Transamerica Center for Retirement Studies looked at a nationally representative sample of 6,372 workers, age 18 and up, and broke down their retirement savings by generation. It found that baby boomer households had estimated median retirement savings of $164,000 as of 2017, while Generation Xers had $72,000, and millennials had $37,000.

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https://www.investopedia.com/ask/answers/101215/what-size-average-retirement-nest-egg.asp