For those aged 55-64 the average 401(k) account balance is $244,750. The median account balance is $87,571. No matter the occupation, that amount of money isn’t enough for retirement. It shows that no matter, we still have a retirement crisis in this country where people don’t have enough money to last retirement.
Sure, there is Social Security, but it’s clearly an amount that isn’t enough for retirees, even if they retired in their 70s these days.
