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Money Guy Show

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

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Investing, Business

4.73.1K Ratings

🗓️ 26 June 2020

⏱️ 57 minutes

🧾️ Download transcript

Summary

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! For more information, visit: https://www.moneyguy.com/2020/06/average-401k-balance-by-age-2020-edition/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

4-1K balanced by age.

0:03.8

It's Brian Preston, the money guy, restoring order to your financial chaos, retirement,

0:10.9

investing, taxing.

0:12.6

You've got financial questions, he's got financial answers.

0:16.2

It's Brian Preston, the money guy.

0:19.8

Brunt, I love the shows where we get to break out a spreadsheet, where we get to take an

0:24.8

idea that someone else has come up with or some other thought someone else has.

0:28.9

And sprinkle a little bit of that money guy magic, that money guy dust on it, that

0:33.8

pixie dust on it, and make it better.

0:36.3

And I feel like over the last, I don't know, week, 10 days maybe, this show has taken

0:41.9

on a life of its own.

0:43.7

And I think it has turned awesome.

0:46.5

If you go back, we did a show in 2019, 4-1K balanced by age.

0:51.6

This is going to be a completely different show because of exactly some of the things

0:55.3

you shared.

0:56.3

And this is just to give everybody kind of a peek behind the curtain.

0:59.4

We have realized that one of the unique things, we love the abundance cycle where people

1:03.4

come, get it loved on you, learn, you apply, you grow.

1:07.6

But there's a complete difference between what planning needs a 20-year-old has versus

1:13.1

a 50-year-old.

1:14.1

That's right.

1:15.1

And we've kind of recognized that there's some customization, some uniqueness.

...

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