Many Americans dream
save 1 million dollars for retirement. Most fall far short of that.
According to the nonprofit Employee Welfare Research Institute, the typical family 401(k) and IRA accounts achieve less than half of that goal in the years leading up to retirement. Total household balances in retirement accounts for 55- to 64-year-olds average $413,814, according to estimates based on 2019 data, the most recent data available.
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