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401(k) withdrawal are at a record high. Consider these money-saving options first
With an average annual return of 7%, Rothman said, a worker in their 30s withdrawing $10,000 from their 401(k) could easily be sacrificing $100,000 in potential earnings.
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Age 50 and Planning for Retirement? Check Your 401(k) Balance Against the Average
By 50, aim to have five to six times your annual income saved, according to Fidelity and T. Rowe Price.
The average 401(k) account balance for people in their 50s ranges from $188,643 to $635,320, depending on which retirement plan provider's data you look at.
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1 in 3 Americans Withdraws 401(k) Funds After Leaving Their Job -- What Is Behind This Growing Trend?
Retirement savers are generally putting more into their 401(k) accounts these days, but much of the money Americans are saving for their future doesn't end up lasting them until then.
