4.6 • 2.8K Ratings
🗓️ 31 May 2019
⏱️ 51 minutes
🧾️ Download transcript
How does your 401(k) balance measure up against your peers? Do you have enough or are you behind? When we meet with potential clients, most of them want to know the answer to these two questions:
Tune in to this week’s episode as we share the average 401(k) balance by age and answer the question of whether or not you're behind with your retirement savings.
For more details, please visit the show notes on our website: https://www.moneyguy.com/2019/05/average-401k-balance/
Click on a timestamp to play from that location
0:00.0 | 401K balance. Do you have enough? How do you measure up with your peers? Man, do we have answers for you today? |
0:08.0 | It's Brian Preston, the money guy, restoring order to your financial chaos, retirement, investing, taxing. |
0:17.0 | You've got financial questions, he's got financial answers. It's Brian Preston, the money guy. |
0:25.0 | I thought you did awesome. Yeah, so today's show we're going to be talking about. It's almost like I'm a professional broadcaster. |
0:30.0 | It's like you've been doing this for a while. Brian Preston started the answers. |
0:34.0 | They're going on two decades right now doing this. Oh man. So here's the thing. I'm excited about this show. |
0:39.0 | By the way, this is number two out of three shows we're recording on a marathon recording day. |
0:45.0 | And you guys know when we create content, we like to create content that feels actionable. |
0:50.0 | That's actionable. That you know what's going to happen. But there's a difference. |
0:53.0 | Sometimes we come up against content that the advice you want to give a 20 year old is completely different than the advice you want to give for a 50 year old. |
1:01.0 | So we've come up with this series of what you should have at each age or benchmark of your life. |
1:07.0 | And you've seen it. We've done what your net worth should be. What your habits should be by age, what your mistakes could be. |
1:13.0 | We don't know what your debt could be. So this thing. So I like to think this is a money guy echo that is now coming about in the personal finance world. |
1:23.0 | And this is I saw an article and I sent it out to the team here. |
1:26.0 | And the talk it was an article that was actually an investor, pdia on what average 401k balances are by age. |
1:34.0 | The reason I think that that's such a such a valuable thing for us to cover, Brian is all the time we have potential clients to reach out to us. |
1:42.0 | And whenever we have someone young and I mean young, they're not at financial independence. They're not at the decumulation phase of their life. |
1:50.0 | There's always two questions that they want to know. |
1:53.0 | Where am I? Am I ahead of the curve? Am I behind the curve? Am I on the curve? |
1:59.0 | Don't I even know what the curve is? And where am I headed? If I'm in the right or wrong place, am I moving towards the place that I want to be? |
2:06.0 | Well, you kind of have to know where everyone else is and where you should be before you can assess. Am I on track? Where else was to be? |
2:14.0 | And we're going to cover all that. And then I even have some cool findings. |
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