401k Savings by Age Quiz

What was the average 401k balance for individuals under 25 in the latest report?

• $7,351

• $6,899

• $2,816

• $1,948

What is the participation rate in autoenrollment plans for those under 25?

• 30%

• 94%

• 64%

• 54%

What is the average 401k balance for the 25 to 34 age group?

• $16,255

• $42,640

• $188,643

• $103,552

What is a recommended savings rate for the 25 to 34 age group to aim for early retirement?

• 10%

• 20%

• 25%

• 15%

By the age of 44, how many times your annual salary should you aim to have saved?

• 1-2 times

• 3-4 times

• 5-6 times

• 7-8 times

What is a financial goal for the 35 to 44 age group regarding debt?

• Increase credit card debt

• Maintain student loans

• Pay off all consumer debt except mortgage

• Ignore debt

What is the average 401k balance for the 45 to 54 age group?

• $299,942

• $271,300

• $67,796

• $188,643

By age 55, how many times your annual salary should you have saved according to Fidelity?

• 5 times

• 6 times

• 7 times

• 8 times

What is the average 401k balance for individuals aged 55 to 64?

• $95,642

• $188,643

• $271,300

• $299,942

What should be the focus for individuals aged 65 and up regarding their 401k?

• Plan for retirement

• Start a new 401k

• Increase contribution rates

• Figure out retirement needs and planning