[Edward64]

Originally Posted by Ksyrup

This is pretty sobering, especially the median:

New report flashes a warning light over 401(k) account balances | CNN Business

I've seen average/mean stuff reported before and I'm sure there is a downward trend (e.g. Vanguard has enough data points where it's pretty representative).

But I've always had an issue with statements like below as I believe it's misleading with just savings plan/account. Vanguard should provide "average/mean balance by person/SSN" or "average/mean balance by person/SSN in an employer-sponsored savings plan". In other words, I believe people that have Vanguard accounts actually have more $ than implied in below statement because a fair number probably have multiple Fidelity/Vanguard accounts.

The average balance in employer-sponsored savings plans last year was $112,572, well below the $141,542 recorded in 2021.

Don't ask me how (I forget exactly how), but I've got 3 different Vanguard savings plan/account and I've got 5 different Fidelity ones (my wife has 3 Fidelity). I remember one time a Vanguard/Fidelity person told me they were not allowed to advise me about combining 401k/IRAs and so I've always kinda left them be.