Americans are saving more for retirement, but they're nowhere near the 'magic number' [FOX Business Network]
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Vanguard Short-Term Treasury ETF (VGSH)
US:NASDAQ Investor Relations:
advisors.vanguard.com/web/cf/fas-investmentproducts/3142/overview
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Source: FOX Business Network
Americans are stashing away more money than ever for retirement, but they remain a ways away from the "magic number" needed to retire comfortably. The average balance in employer-sponsored retirement contribution plans rose to $134,128 in 2023, a 19% increase from the previous year, according to new data published by Vanguard Group, which tracks about 5 million retirement accounts. The median account balance was $35,286, a 29% increase from 2022. The sizable increase in account balances stems from an increase in equity and bond markets, as well as ongoing contributions over the year, Vanguard said. Despite the jump, account balances are still nowhere near the $1.46 million figure that Americans believe they need in order to retire comfortably , according to a recent study published by Northwestern Mutual. The figure represents a nearly 15% jump from the $1.27 million that Americans said they needed in 2023, easily outstripping the current 3.3% inflation rate in the country. O
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VGSH
Sec Filings
- 6/28/24 - Form 497
- 6/3/24 - Form 497
- 5/2/24 - Form N-CSRS
- VGSH's page on the SEC website