Median 401(k) Balance by Age Reveled!
This week, we're diving into a study conducted by Empower, which analyzes the median 401(k) balance by age. We'll break down the numbers, discuss strategies for catching up if you're behind, and explore ways to optimize your wealth if you're ahead of the curve.
Key Topics:
The Empower Study: Median 401k Balances Across Age Groups (00:48)
What to do if You Are Behind For Your Age Group? (05:55)
Track Your Spending with the Correct Tools (06:10)
Automate Your Retirement Savings (07:45)
Strategize your Roth IRA or Backdoor Roth (09:29)
What to do if You Are Ahead For Your Age Group? (09:58)
Mega Backdoor Roth (10:27)
Build Up Your Brokerage Account (10:56)
Wrap-Up (13:04)
This Episode is intended to be financial education only and is not intended to be specific tax, legal, or investment advice. Please consult a professional for specific advice.
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