Americans' retirement savings surged by 19%: Vanguard report

#yahoofinance #retirement #savings

A recent report from the Vanguard Institute reveals a significant uptick in retirement savings, with average balances for American retirees increasing by 19% compared to 2022 data. Notably, more than four out of 10 individuals boosted their contribution amounts to their 401(k) accounts. Yahoo Finance personal finance contributor Kerry Hannon breaks down the study, examining the factors driving this positive trend in retirement savings. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Angel Smith

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[MichaelChengSanJose]

If they pulled the averages around mid year 2022 and 2023, then the 19% gain came entirely from the stock market gains. Any additional contributions was marginal at best.

[ThaOriginal_Q]

The account bakances increases by 19% becaise the markets are up by 19% lol.

[d_all_in]

The S&P is up 40% since then and they report on 19% gains like it's good.

[xiphoid]

As an Asian American, I'm glad to see more Americans are finally saving more for their retirement. For the longest time Asian Americans were the only group that really were saving >20% of the income. This is one of the biggest reason why we went from dirt poor students to become the wealthiest group by far. We have been shaking our heads at how undisciplined most Americans are financially. Glad to see finally more are finally waking up.

[chrissharkey]

Increased for those that are invested! 50% of Americans are not in the stock market

[Seanpfree]

This is where the lower and middle class get left behind.

[Seanpfree]

In Nashville my company only matches 3%

[johnurban]

I stayed away from Target Funds and stayed aggressive and was glad I did. Target Funds make you less money as you get older.

[chrisphilips]

Most older Americans are well off financially!

[eprofessio]

It’s the Dave Ramsey effect. His teachings are sweeping the country by word of mouth and platforms.

[ninesevenempire]

Inflation is eating people alive, while the rich get richer.

[JoJo-iesl]

that's great but nowhere near what they need

[mxweng]

Nvidia is up more than 300% while my 401k is only up 33% so recently I decided to contribute less into my 401k and inject more $$$ directly into Magnificent 7. I hate 401k funds.

[boondoggle]

This is good news though it’s probably not that much in real dollars because the starting point was likely so low. Still, it’s better that people are investing more. I know several of my Gen X peers who hardly saved anything at all for retirement, which you can’t really do unless you have the income, but you have to start as early as possible even if you can’t contribute much at the time, which is why it’s good to hear that Gen Z is starting early.

[charletfoster]

Americans are moving in the Right direction💰💰💰💰💰💰

[sew_gal]

Yeah right, all your cover for this administration wont work

[ronniewilliams-g]

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[cheezybred]

All thanks to jb, my brokerages are soaring

[ericsmith-plsn]

Only some Americans. Most are living pay check to check. Fixed ur sht.