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Are You Saving Enough for Retirement | Durham News
Fidelity’s latest 401(k) data reveals a sobering reality: the average 50-year-old has just over $215,000 saved—far below the ideal target of six times their salary. For someone earning $75,000, that means they’re missing out by more than half a million dollars. Complicating matters, new federal rules are limiting catch-up contributions for some employer plans, blocking workers from boosting savings. While market volatility gets all the attention, experts stress that your savings rate is the single biggest lever you control for long-term wealth. Median balances—even among those in their…
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