- about 45% of employees have savings outside of their current employer
- for those with outside savings, such savings comprise about 55% of their retirement accumulations
- the median accumulation is $79,300 and the average is $187,100
- a significant segment has minimal savings and a few have amassed very large accumulations
- for those with their current employer for at least ten years, the median accumulation is $137,200 and the average is $259,600
Earlier blog entries have suggested that one should look at the big picture when it comes to retirement savings, in the context that saving for retirement is an important goal, but one that competes with other financial challenges. It would appear that while we are looking at this holistically, it is also important to factor in all financial resources beyond account balances from a single employer's 401(k) plan.