Here's the Average 401(k) and IRA Balance. How Does Yours Compare?


In case you didn’t get the memo, you probably shouldn’t rely on Social Security too heavily to pay the bills in retirement. Those benefits will only replace about 40% of your income if you’re an average earner, and let’s face it — if you want to enjoy a comfortable lifestyle, that won’t be enough.

That’s why it’s important to consistently fund a 401(k) or IRA for as long as you can during your career. The money you sock away in that account can serve as a nice supplement to Social Security.

You may be wondering how well you’re doing on the retirement savings front. And Fidelity has some answers.

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