The U.S. continues to struggle to meet the retirement savings challenge. According to a Vanguard study published earlier this year, the average 401(k) plan held a little more than $96,000 in assets in 2015; for the median plan, the number was just $26,400.
A 2014 study by the Employee Benefit Research Institute found that about 40 percent of 401(k) plan participants had less than $10,000 in their accounts.
Estimates vary widely as to how much the average investor needs to have saved for retirement, but no matter which calculator one uses, these figures show a staggering gap between where people’s savings are now and where they will need to be when they stop working.
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