Skip to site content
The Show

Average 401(k) Balance by Age (2020 Edition): Are You Behind?

A 401(k) balance is one of the most important tools on your journey financial freedom. According to the National Study of Millionaires, 8 out of 10 millionaires used the growth from their employer sponsored 401(k) plan as a primary factor in their financial success.

In this episode, learn what makes this retirement savings vehicle so powerful and how your 401(k) balance measures up to your peers. Don’t pass up this opportunity for free money and powerful compounding interest!

In this episode, you’ll learn:

  • What makes 401(k) accounts so powerful
  • How to make the most of your retirement savings
  • How much you should be saving every year
  • How much you should have saved at your age
  • The average 401(k) balance for each age group
  • 401(k) planning opportunities for your 20s, 30s, 40s, 50s, and 60s

Research and resources from this episode:

Enjoy the Show?

Where You Can Watch and Listen:

Subscribe on these platforms or wherever you listen to podcasts! Turn on notifications to keep up with our new content, including:

  • Episodes of The Money Guy Show every Friday
  • Episodes of Making a Millionaire every other Monday
  • Mini-shows every Wednesday
  • Livestream Q&As every Tuesday
  • Tons of other fun content!
Related Content

Free Resources

Financial Order of Operations®: Maximize Your Army of Dollar Bills!

Here are the 9 steps you’ve been waiting for Building wealth is simple when you know what to do and…

View Resource

How Much Should You Save?

How much of your income can you replace in retirement? You can replace different portions of your income in retirement…

View Resource

When Should I Claim Social Security?

Social Security can have big impacts on your retirement. But knowing when to draw Social Security can depend on a…

View Resource

Articles

Exclusive Sneak Peek of Millionaire Mission by Brian Preston

, ,

Read More

How Much Do You Actually Need To Retire?

, ,

Read More

How To Get Your Financial Life Together in 2025

, ,

Read More

Financial FAQs

Courses & Tools

How about more sense and more money?

Check for blindspots and shift into the financial fast-lane. Join a community of like minded Financial Mutants as we accelerate our wealth building process and have fun while doing it.

https://moneyguy.com/wp-content/uploads/2023/10/accent-icon-book.png

Millionaire Mission (Brian’s Book)

Buy Now
https://moneyguy.com/wp-content/uploads/2023/10/accent-icon-math.png

Know Your Number Course

Buy Now
https://moneyguy.com/wp-content/uploads/2023/10/accent-icon-pencil.png

The Money Guy Net Worth Tool

Buy Now

Recent Episodes

It's like finding some change in the couch cushions.

Watch or listen every week to learn and apply financial strategies to grow your wealth and live your best life.

ASK get caught up in 2025

Falling Behind? The RIGHT Way To Catch Up This Year

Watch Now
Net Worth By Age 2025 Edition

Net Worth By Age (2025 Edition)

Watch Now
inheritance mistakes

Don’t Make These Inheritance Mistakes

Watch Now