I was reading Money magazine today and one of the articles featured was a key benchmark on accumulated retirement savings ranked by age and income. Based on my age and income, looks like I am a little bit above average. This is definitely good news considering I am wayyyy above average on the debt side of my balance sheet.
For the under 35 age bracket:
- Top Earners average income is $246,236, average 401k balance is $131,791
- Upper Income average income is $103,658, average 401k balance is $40,855
- Upper Middle average income is $67,750, average 401k balance is $22,627
My income falls in the upper middle category. My 2006 earnings were about $66k. My 401k balance at last check was a little over $40k. I may be making an upper middle class income but I am saving like an upper income earner....This is great news and makes me very happy!
Now if I can just get below average on my debt...............
Could you post the Money magazine link where you found this information about 401k balance and salary based on age.
Could you post the Money magazine link to where you found this information.
Thanks Jeff