What are the Average 401(k) Balances by Age?

And, thrifty gift suggestions for Father’s Day. Created for {EMAIL} | [Web Version]( June 13, 2024 CONNECT WITH KIPLINGER  [LinkedIn]( [Facebook]( [X]( [Instagram ]( [Youtube]( [SIGN UP]( ⋅ [WEBSITE]( [] INTRODUCTION [] [Stepping Into Costco Vacation Packages]( I know I’ll be checking to see what my warehouse membership can save me on my next trip. I found a package deal under $3,000 that included round-trip airfare and six nights at a five-star hotel in Paris this September. There were cheaper options, but I want to experience some luxury in one of the most sumptuous cities in the world. Kiplinger contributor Daniel Bortz has [six factors for you to consider when booking a vacation package through Costco]( and other warehouse stores. - Donna LeValley, personal finance writer [How to Help Your Retirement Savings Last]( Spending your hard earned retirement money can be complicated—and it's important to make the right decisions that will help your savings last. Vanguard Personal Advisor is built to provide you an ongoing collaboration with our professional advisors — so you can retire with the support you need. [LEARN MORE]( ADVERTISEMENT [] SAVINGS BY AGE [] [The Average 401(k) Balance by Age]( [The Average 401(k) Balance by Age]( (Getty Images) The one instance of “keeping up with the Joneses” that could be constructive is retirement savings. If seeing your peers have more in their 401(k) account motivates you to save more — you will be better off now and in the future. Read this article to [learn how much the average person has saved compared to how much you should have saved by now](. If you are behind we have plenty of suggestions on how you can catch up. [] PLACES TO RETIRE [] [The Best (and Worst) Places to Retire]( [The Best (and Worst) Places to Retire]( (Getty Images) It’s never too early to consider where you might want to love after you retire. I want to give myself plenty of time to check out my top candidates thoroughly and not waste my time on the duds. Experiencing the seasonal weather changes and the availability of activities will help me choose the right spot to settle down when the time comes. Here are two lists: [the best places to retire]( and [the worst places to retire]( in the US to help you make your choice. [7 Mistakes People Make When Hiring a Financial Advisor]( Working with a financial advisor can be a crucial part of any healthy retirement plan. But choosing the wrong one could wreak havoc. Avoid these 7 mistakes when hiring an advisor, so you can work to potentially save years of stress. See the list. [See the list]( ADVERTISEMENT [] SAVINGS OPTION FOR THE SELF-EMPLOYED [] [SEP IRA Contribution Limits for 2024]( [SEP IRA Contribution Limits for 2024]( (Getty Images) SEP IRAs allow small business owners and freelance workers to save for the future and reduce their current tax burden. You can open an account even if you have a full-time position. Keep reading to [learn more about the SEP IRAs' generous contribution limits and minimal paperwork](. [Raisin Offers Top High-Yield Savings Rates]( You can open a free high-yield savings account in just a few minutes. Simply select one of the high-yield savings products offered by Raisin to begin your savings journey. [Learn More]( ADVERTISEMENT [] OTHER KIPLINGER ARTICLES WE THINK YOU'LL ENJOY [] [Amazing gift suggestions for Father's Day]( You have a few days to get Dad in time for Father’s Day this Sunday. [When are estimated tax payments due in 2024?]( Mark your calendar now and avoid penalties. [Why you should have defensive stocks in your portfolio]( Find out what defensive stocks are and how to find the top picks for you. [Prosper with the Latest Insights from Practicing Financial Pros in Kiplinger's Building Wealth E-Newsletter — Free]( ABOUT KIPLINGER When we write about money, we get it right. 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