Average Retirement Account Balances VS. YOU 🤔

Рет қаралды 4,179

Күн бұрын

Today we're covering the average retirement account balances in the US and see how you compare! We'll cover everything from the average 401k balance to the average IRA contribution. What are your thoughts on the data provided?
0:00 - 0:25 Data/topic overview
0:26 - 1:08 401k contribution averages
1:09 - 2:01 403b average savings rate
2:02 - 2:18 Average Gen X retirement account balance
2:19 - 2:45 Baby boomers retirement account balance
2:46 - 3:02 Millenials' average retirement account balance
3:03 - 3:24 401k allocation changes
3:25 - 3:44 401k loans and withdrawals
3:45 - 5:38 IRA account balance & contribution averages
5:39 - 5:51 How do you stack up?
Our channel focuses on retirement planning, investing, and general financial education! We're an investing service that also helps you keep your dough straight. We'll manage your retirement investments while teaching you all about your money.
#retirement #retirementplanning #dohstr8
--Ready to subscribe--
kzfaq.info?su...
For more information visit:
www.jazzwealth.com/
--- Instagram @jazzWealth
--- Facebook
/ jazzwealth
--- Twitter @jazzWealth
Business Affairs 📧Support@JazzWealth.com

Пікірлер: 29

@Jazzwealth 2 ай бұрын

Thanks for watching! How do you compare? 🤔

@bryankeizer1677 2 ай бұрын

Not a fan of averages because they can be skewed by very large numbers. Did they publish the median amount or any information on medians in relationship for their clients?

@Jazzwealth 2 ай бұрын

Definitely get that and appreciate your input! There was no median data in this report. When they publish their quarterly 401k data/insights report that's usually where you can find median data

@mrpangy4174 2 ай бұрын

Happy belated Birthday... I look forward to your answers to the questions you put forward.

@codytibbitts5166 2 ай бұрын

Happy birthday Eric! :)

@Jazzwealth 2 ай бұрын

We did this already.. but thank you!

@brucesmith6868 2 ай бұрын

Thanks Eric good info

@Jazzwealth 2 ай бұрын

Thank you, Bruce!

@ccrx2640 2 ай бұрын

16% 401k pre 8% catch up Pay both off every year

@DohStr8 2 ай бұрын

Happy birthday Eric! 🥳😄

@Jazzwealth 2 ай бұрын

Thanks Haley!

@ygbodybuilder3023 2 ай бұрын

I have a state pension that's guaranteed money for life when I retire after 20 years of service. I also have a ,457b, and a Roth IRA .

@Jazzwealth 2 ай бұрын

Hey, let's go! 💪 Great job!

@martinguldner3990 2 ай бұрын

I will look at more than just my account balances in my Roth IRA and Roth 401k. Because of an inheritance of two taxable brokerage accounts in 2020 and years of not contributing to retirement accounts. The combined balances in my Roth IRA and Roth 401k is about 15% of my net worth which is more than the median of all Americans at all ages.

@hubertvecht7255 Ай бұрын

Average vs median. Are you NEW ?

@johnnyrabenold6133 2 ай бұрын

I've never understood these metrics. What percentage of people have one 401K? I have multiples and assume most people do. That makes this worthless, unless you know how the distribution looks.

@July.4.1776 2 ай бұрын

Medians will tell you something averages tell you nothing

@eddiemalvin 2 ай бұрын

Even if they quoted the average balance of ALL retirement accounts, it wouldn't be very helpful because it ignores debt load and investments held outside of retirement accounts. I guess it's helpful for what it is but... someone with zero retirement savings, no debt and millions in taxable investments is probably going to be fine. Conversely, someone with $1M in retirement savings and $1M in debt may need to make some changes. Net worth is a better gauge but that data is also harder to come by.

@ygbodybuilder3023 2 ай бұрын

I have a state pension that's guaranteed money for life when I retire after 20 years of service. I also have a ,457b, and a Roth IRA .

@johnnyrabenold6133 2 ай бұрын

@ygbodybuilder3023 yes this is an excellent example that demonstrates the issue

@jayholiday256 2 ай бұрын

It’s meaningless, my 401k is small, but I have an IRA, Roth and brokerage accounts with over a million

@Jazzwealth 2 ай бұрын

Nicely done! The averages aren't for everyone, but some like to see how they stack up! :)

@jayholiday256 2 ай бұрын

@@Jazzwealth Yep, good video

@legendary_soup4454 2 ай бұрын

I pay you to allocate my money.

@voodoodrug 2 ай бұрын

Averages ? Really?^^^^^^^ 15 years ago I hacked my house, no bills including food. Retired 13 years ago and sense then my assets have tripled. I have to work on spending its tough. Don’t love a house

@dantheman6607 2 ай бұрын

What do you mean by hacked my house? Sold it? Rent it? Tripled your assets ? Was that just market growth or contributions too? Sorry for all the questions 😂

@voodoodrug 2 ай бұрын

Roomates, my ladies and wife. With all my free time in retirement my natural talents and interests became a bit lucrative bonus, namely trading, pimping, and book keeping.

@bolo34lx 2 ай бұрын

You write like a 13 year old trying to be a bad-ass on the internet.

@voodoodrug 2 ай бұрын

Yes you are currect. Im trying to squeeze my post in, comes off that way. Made a lot of mistakes to get there and pain. A better way to say it is I quit a stressful 6 figure job in 2012 at 48 and used some hacks to do ok(subjective), not rich , I’m a number, left alone and enjoy my time riding a couple nice Harley’s….