Average 401(k) Balance by Age: Are You Behind?
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 31 May 2019
⏱️ 51 minutes
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Summary
Transcript
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| 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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