Millions of Americans have a ticking time bomb in their tax-deferred accounts — 3 easy ways to start defusing it now
By July, the typical 401(k) balance for individuals in their 50s stood at $642,696, as reported by Empower. Moreover, the count of 401(k) millionaires hit a record high of 645,000. On the other hand, Empower discovered that Americans in their 50s possess an average of $483,451 in their Individual Retirement Accounts (IRAs).
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