Does this average 401k balance look right? I thought it should be much higher. American needs at least $1.5 MM to retire comfortably for 20 years.

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Not everyone throws everything into 401(k). A lot of people have real estate. We’ve never sold a house. We’ve always just bought and then rented them out when we’re ready to move so a lot of our wealth is in real estate.

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Do you have a monthly figure then when calculating for retirement?

What is needed vs what people have are two different things.

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Some people can have multiple 401k if you worked at more than one company.

Then add brokerage and IRA’s on top.

Also bear in mind before around year 2000 many companies still offered pensions, so anyone over 40 probably has pensions instead of 401k for at least some of their savings

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