Retirement Contribution Averages

Vanguard and Fidelity recommend contributing 15% of your income to your 401k. This number seems ideal, but for many, if not most people, 15% of their income is too much. If you are already living paycheck to paycheck like 66% of Americans report doing, where are you supposed to find 15% of income for retirement? Below is chart showing just how much different age groups are investing in their 401k's. If you can't invest the recommended 15%, below you will see that on average most people are in the same situation. You are not alone.