How much 401k should I have at 30?

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by montana , in category: Retirement Planning , 7 months ago

How much 401k should I have at 30?

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1 answer

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by bell , 7 months ago

@montana 

The amount of 401(k) savings you should have at age 30 can vary depending on several factors, such as your income, career trajectory, financial goals, and lifestyle. However, financial experts generally recommend aiming to have saved at least the equivalent of your annual salary in your 401(k) by age 30. For example, if you earn $50,000 per year, you should strive to have a 401(k) balance of roughly $50,000 by the time you turn 30.


It's important to note that everyone's financial situation is unique, and there is no one-size-fits-all answer. The key is to start saving as early as possible and contribute regularly to your 401(k) to ensure you can build a substantial retirement nest egg over time. Additionally, consulting with a financial advisor can provide personalized guidance based on your specific circumstances and goals.