Here are a few facts (according to Money.com) about retirement accounts. How do you stack up?
- The average retirement account balance for men is $121,000. The average for women is $78,000.
- The average contribution to a 401(k) account is $9,600.
- 67% of Americans say that they plan on saving more for retirement in the new year.
- The average savings rate for an employee is 8.1% of their income.
- The cities with the highest 401(k) savings rates are San Francisco, San Jose, Raleigh, Houston, and Hartford.
If you are feeling more in debt than you think you should, feel free to contact our office at 816-524-4949 or www.Hoorfarlaw.com.