July 14, 2024
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Americans’ workplace retirement account balances are growing — but they’re still lower than what people say they need to be on track for retirement, new data reveals.

The median account balance in the U.S. is now $35,286, according to Vanguard’s annual How America Saves report, which tracked the performance of 401(k)s and similar plans in 2023. That’s a jump of 29% compared to the previous year, due to a mix of market gains and ongoing contributions, the report notes.

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