The Rise of the 401k as a Retirement Vehicle Foreshadows a Decline in the American Standard of Living
<p>Another day and another popular press article about <a href="https://www.cnbc.com/2022/07/20/millennial-and-gen-z-employees-arent-saving-enough-for-retirement.html" rel="noopener ugc nofollow" target="_blank">Millennials and Gen Z not saving enough for retirement</a>. This one is based on a recent report from Vanguard, a well-known behemoth in the investing world. It’s completely depressing: median 401k account values peak in the 55–64 age range and decrease for those 65 and older. The peak median values? $89.7k. <em>WATF?</em> The averages are a little higher, peaking at $280k for the 65 and older crowd, but these values are skewed by relatively few “super-savers/investors” that have done really well; in any case, the averages are still minuscule compared to financial needs over a 25–30 year or longer retirement.</p>
<p><a href="https://medium.com/@caseyleith9/the-rise-of-the-401k-as-a-retirement-vehicle-foreshadows-a-decline-in-the-american-standard-of-9cf00246b2fe"><strong>Learn More</strong></a></p>