How do you compare to the average American when it comes to saving money? Today you're going to find out as we sort through the statistics from the latest Vanguard report. We'll also see how the data compares with what Marc sees from clients.
Read more and see the full Vanguard report here: http://makeretirementwork.com/435/ep-14-eye-opening-stats-on-how-america-saves/
What we discuss on this episode:
2:06 – Defined contribution plans are now used by 100 million Americans.
3:13 – 15% of plan participants use the catch-up contributions.
4:17 – Only 20% of plan participants use a Roth or after-tax option.
5:24 – Average number of funds offered in a plan is 17.4 but only 2.4 used.
8:00 – Contributions and employer match stats
11:31 – Average rate of return over the past five years.
13:30 – Leaving funds with a previous employer.
15:16 – 76% of participants were deemed to have a balanced strategy.
