Here Is the Average 401(k) Contribution Rate -- The Amount May Surprise You (Hint: There's No Surprise)

[Burgerwars]

I don't know why the author says the amount may surprise you. There's no surprise. People who earn more can contribute more. Anyway, here's the article.  

 

https://www.fool.com/the-ascent/buying-stocks/articles/here-is-the-average-401k-contribution-rate-the-amount-may-surprise-you

 

Edited August 1, 2023 by Burgerwars

[greendeh]

 

Edited August 1, 2023 by greendeh

[binaryhermit]

Let me guess, the median rate of contribution is 0%

 

EDIT: I am surprised, the mean is 7.4% and median is 6.4%.  Both are way higher than I expected, given this I assume the data set is "People who contribute to a 401k" not "People who are eligible to contribute to a 401k" and the percentage counts any match.

Edited August 5, 2023 by binaryhermit