401(k) plans had an average of $112K as of 2023

The average American contributed nearly $6,000 to a 401(k) account in 2023

That's an increase over the previous year—and roughly 8% of their total income. When employer contributions are factored in, the total average contribution to 401(k) accounts rose to $8,618 in 2023, up from $8,362 in 2022 and $8,236 in 2021.

The average 401(k) balance for Gen Zers was $13K as of Q3 2024

For millennials, the average 401(k) plan balance was more than $66K at the time. It's worth noting that retirement savings goals are often much higher than what many people actually have saved.

Americans ages 30 to 34 have $44,800 in their 401(k) accounts on average

Americans ages 28 to 44 save about 13.5% of their pretax income on average, which is close to the recommended retirement savings rate of 15%.

Roughly 70 million Americans have 401(k) plans

Ted Benna, a rural benefits consultant, proposed a reinterpretation of a small tweak to the Internal Revenue Code in 1980. This led to a fundamental transformation of how American workers plan for retirement.

A 401(k) plan allows workers to save for retirement without paying taxes until later

With a 401(k) plans you can invest more money now and let it grow with compound interest. Americans have more than $7T invested in these types of accounts.

The 401(k) is limited in its ability to provide guaranteed retirement income

Part of the problem is the high, often hidden fees associated with the accounts and a lack of access. Plus, analysts say the annual cost in tax revenue to the government is more than $100B.

What is a 401(k)?

Should you get a 401(k)? To make sense of this obscure piece of tax code, here’s a beginner’s guide to one of the more common forms of retirement savings in the US. Learn the history of the 401(k), how to sign up for one, the different types, and more in this well-organized and concise explainer from Investopedia.

Fees can eat away at your 401(k)

Every investment plan has an expense ratio—a percentage of the total assets that goes to the investment manager in the form of fees. Because 401(k) plans are so common, and many of their participants are not savvy investors, the relative expense ratio for them has often excessively increased.

Visualize America’s retirement savings by age

The median retirement savings for Americans was $87K as of May 2024. Some financial experts might find that number concerning, since a recent Northwestern Mutual survey found that $1.46M is the ideal retirement savings target. A graphic shows the current averages and medians broken down by age group.

401(k) plans and pensions differ in who has control over the investments

With pension plans, a company contributes to an investment fund from which it distributes regular payments to a retired worker until their death. A 401(k) gives the worker control over contributions in a tax-advantaged account.

The IRS sets new contribution limits for IRAs and 401(k) plans each year

In 2024, individuals could contribute up to $7K across all their IRAs. People aged 50 and older could contribute up to $8K. For 2025, the IRS kept the same contribution limits.

About 98% of companies offering employees a 401(k) plan match employee contributions

Broadly speaking, an employer 401(k) match means that if you invest money into your 401(k), your employer will put cash in, too. But these programs are often fairly nuanced.

The median trust fund contains roughly $285K

That’s according to data from the US Federal Reserve. There isn’t a specific net worth that can help determine whether or not someone needs a trust—but contrary to popular belief, trust funds can be great estate planning tools, even for people who aren’t ultra-wealthy.

The average household checking account balance is $16K, while the median is $2.8K

Average household checking account balances have doubled since 1989. Older, white, educated, and male customers tend to have larger balances on average, according to the data. See further data visuals here.

The financial crisis in 2008 had a major impact on many 401(k) plans

Amid the 2008 financial crisis, stocks and bonds cratered as the broader market floundered due to the subprime mortgage crisis. Investors with so-called "target-date" funds—which shift allocations based on the maturation of a fund—shared in the slump, with some funds declining by 20% or more just a year or two away from maturation.

The overall median annual salary in the US was $62,192 as of 2025

The age group with the highest median annual salary in the US, $70,824, was made up of people ages 45 to 54, according to Bureau of Labor Statistics data from July 28, 2025.

43% of Americans don't have savings to pay for a $1K emergency

That's according to data from January 2026 shared by US News. Among those who did have an emergency fund, the median balance was $5K.

In 2024, the average US wedding cost was around $33K

That's up from $29K in 2023, according to this 2024 weddings report. But that’s not the only surprising fact from the report: For instance, 89% of couples started wedding planning before getting engaged.

The countries with the highest wealth per person, ranked

When looking at countries with the highest average wealth per person, the United States comes in at number three (with $564,862 per person). But the US doesn't even make the top 10 when looking at the median wealth per person rather than the average, which is perhaps a more accurate version of the data. Explore the numbers here.

Social Security trust funds are expected to be unable to pay full benefits by 2035

Most US workers have 6.2% of their gross paycheck taken out for Social Security. The government requires employers to match that 6.2% as well, for a total of 12.4%. This video dives into the specifics of how Social Security functions from a financial perspective.

PayPal's Peter Thiel turned his Roth IRA into $5B

In 1999, tech titan Peter Thiel had a Roth IRA with roughly $2K in it. By 2019, that tax-free account was worth $5B. For context, the average Roth IRA was worth roughly $39K at the end of 2018. Naturally, Thiel had a few investment options that the average person probably doesn’t have access to—but the story of his IRA’s boom is nonetheless fascinating.

529 plans can affect college financial aid

Income affects FAFSA financial aid determinations. FAFSA also takes 529 college savings plans into account. The percentage of savings it uses in its calculations depends on who owns the account (parent, student, or someone else). Other schools use a program called CSS to determine financial aid, and those determinations vary.

Kohlberg Kravis Roberts was the world's largest private equity firm as of 2025

Headquartered in New York City, KKR raised more than $117B between 2020 and 2024. KKR is credited for pioneering the leveraged buyout strategy for private equity in the 1970s and now owns nearly 300 companies.

If someone buys a $100K annuity, they may receive $525 to $1K monthly payments

In general, how much an annuity will pay out depends on a variety of factors, including how old an annuitant was when they bought it and what type of annuity they bought. Regardless, annuities can provide a guaranteed extra income for retirees.

About 63% of employees making $100K+ salaries can work from home sometimes or always

However, only 38% of those making $50K to $100K can do the same. Some have pointed out that working from home is increasingly inaccessible to blue-collar workers and those who did not attend elite higher education institutions, furthering America's class divide.

Calculate how much of your tax dollars go to each federal program based on your income, filing status, and number of children

Roughly 43 million US borrowers owe roughly $1.7T in student debt, the second-largest source of consumer debt behind mortgages.

US housing costs have risen by roughly 175% between 1991 and 2026—but a growing number of Gen Zers are becoming homeowners anyway. In 2025, 4% of homebuyers were Gen Z, up from 3% the year before.

While the first exchange-traded fund (a 'basket' of different assets that can be bought and sold on a stock exchange) in the US only launched in 1993, the global ETF market has grown to more than $10T in the short time since.

About 2,000 US babies are born annually without some portion of their limbs, potentially leading to a lifetime of pricey prosthetics.

Hedge funds, the private investment firms that trade a wide swath of financial assets, make money by imposing steep fees on investors and from the fund's investment performance.

11 people died from firework injuries in the US in 2024.

44% of Americans say they pray at least once a day—discover how your state's religiosity stacks up against the rest of the country.

The American Society of Civil Engineers' infrastructure report card gave the US a C in 2025, its highest grade since the project launched in 1998.

Venture capital is a form of funding provided to early-stage companies with high growth potential, typically in exchange for an equity (or ownership) stake

Before the current East Wing ballroom project, only two White House renovations in the past 100 years cost more than $10M.

See a ranking of the best (and worst) Federal Reserve Chairs since 1914 out of the 16 men and women who have held the office since.

In 2026, Finland was named the world's happiest country for the ninth consecutive year based on its wealth, social safety network, and high life expectancy, among other factors.

In 2025, four executives from large tech companies were given positions in the US Army Reserves—including Palantir Chief Technology Officer Shyam Sankar, which reinforced Palantir's ties with the US military and its role as a leading defense partner.

Dozens of S&P 500 stocks, including Coca-Cola and Walmart—known as the dividend aristocrats—have increased dividends every year for 25 years

The first steps to rebuilding your credit score include getting to know exactly what's on your credit report and figuring out how far you are from the '700 club,' or 'good score' range.

The US Constitution is widely regarded as the longest-standing written national constitution still in force—see how it has influenced rights worldwide.

The most expensive ad of all time was for Chanel No. 5 perfume and cost roughly $33M to produce in 2004—about $57M in today's dollars.

Art theft is the third-largest source of criminal revenues worldwide, thanks in part to the subjective nature of valuing a work of art.

20,000 letters to the advice columnist 'Dear Abby' provide insight into prevailing sex, religion, and LGBTQ fears, anxieties, and concerns from the 1950s onward.

See how each of the more than two million known species relates to each other—and to common ancestors—in this zoomable tree of life.

In 1963, a basement renovation in Turkey revealed a passageway to a hidden, multilevel underground city that once housed as many as 20,000 people

Alzheimer's can lead to brain shrinkage, with an average of around 2% of volume reduction per year

A pickleball's loud 'pop' sound can reach 120 decibels, which is equivalent to a hammer hitting a nail

The boiling temperature of water decreases with increasing elevation because the molecules need less energy to overcome the lower atmospheric pressure associated with thinner air.