American 401(K) Savings Rates Reach All-Time High
Press|25 Jun 2024
In the Financial Planning article "American 401(k) Savings Rates Reach All-Time High, Vanguard Study Finds," author Nathan Place examines the significant increase in 401(k) contribution rates, which reached an average of 7.4% in 2023. Brandon Garrett, CEO of BentOak Capital, notes that this trend reflects a broader awareness among Americans of the importance of maximizing retirement savings. He states, “Maxing out retirement contributions is table stakes,” indicating that higher savings rates are becoming essential for financial security.
Author: Nathan Place, Publisher: Financial Planning, Date: June 25, 2024.
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