If you have access to a 401(k) plan, you should take advantage of it, as it is one of the best ways to save for retirement. To maximize your 401(k), it is important to make consistent and sufficient contributions — and many Americans are rising to the occasion.
According to a new Bank of America study, Americans’ 401(k) account balances increased by 16% in 2024 compared to year-end 2023, as more plan participants increased their contribution rates in the last quarter of the year. Here is how much Americans contributed to their 401(k) plans last year.
Gabrielle Olya | GOBankingRates