50% of US employees are saving for retirement through their 401k
plans. So how much money is invested in US public companies every year? There are roughly 160 million jobs and the US
per capita GDP is $62,606. So if 80 million 401K participants are investing
$4150 per year, the total dollars going to companies is $332 billion per year.
The average 401(k) balance rose 8 percent or about $8,100 to
$103,700 in the first quarter of the year. The improvement in the stock market
helped savers eke out a roughly 1 percent gain compared with the average
balance in Q1 2018, according to Fidelity’s data.
The average 401(k) employee contribution amount reached $2,370
in Q1, a 15 percent increase from the year prior. And the average
employer contribution, or company match, reached $1,780, a 6 percent increase,
according to Fidelity.
Together, companies and their workers boosted the average total
savings rate to an all-time high of 13.5 percent.
The data from Fidelity is based on the $7.4 trillion assets the
financial services institution had under administration as of March 31 and the
more than 30 million people who use the company for investing.
Average Retirement Savings Balances
Ages 401K IRA
20-29: $11,800 $8,000
30-39: $42,400 $24,400
40-49: $102,700 $63,900
50-59: $174,100 $123,700
60-69: $195,500 $225,100
70+: $182,100 $274,200
US
citizens have an equal amount invested in home equity. We are holding an
additional $6 trillion in home equity as the ultimate backstop for our
retirement. Home equity is the safest place to put family assets.
Norb
Leahy, Dunwoody GA Tea Party Leader
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