MoMo Productions / Getty Images Recent research shows that many people in their 30s are saving what they can, even amid economic ups and downs. Key Takeaways The average 30-something contributes about 11% to 13% of their income to retirement accounts in 2025, compared with the financial experts' suggested target of 15%. Median 401(k) balances for people in their 30s are about $25,000–$40,000, while the average, which skews higher, is over $100,000. If you’re in your 30s, chances are you’ve asked you ...

Retirement Account Contribution Limits - The contribution limit for individual retirement accounts (IRAs) will increase to $7,500 in 2026, with a catch-up contribution limit of $1,100 for individuals aged 50 and older [2] - For Roth IRAs, the income limit for contributions will rise to between $153,000 and $168,000 for singles and heads of household, and between $242,000 and $252,000 for married couples filing jointly [3] - The contribution limit for 401(k), 403(b), 457 plans, and the federal Thrift Savings Plan will increase to $24,500, with an $8,000 catch-up for those aged 50 and older [4] Health Savings Accounts (HSAs) - The annual contribution limit for HSAs will increase to $4,400 for individuals and $8,750 for family coverage in 2026, with an additional $1,000 catch-up contribution for those aged 55 or older [6] Social Security Benefits - The Social Security Administration will implement a 2.8% cost-of-living adjustment (COLA) for 2026, resulting in an average increase of $56 per month for approximately 75 million retired seniors and disabled workers [8]

Core Insights - Generation X faces the largest retirement savings shortfall, with an expected need of over $1.1 million but an anticipated savings of approximately $712,000, resulting in a gap exceeding $400,000 [1][6] Retirement System Changes - Gen Xers are lagging in retirement savings compared to older and younger generations due to significant changes in the U.S. retirement system, particularly the decline of pensions and the rise of defined contribution plans like 401(k)s [2] - Many Baby Boomers benefit from defined benefit pension plans, while Gen X entered the workforce during the transition to defined contribution plans, missing out on key features such as automatic enrollment and auto-escalation [3][4] Implications for Retirement Savings - The retirement savings shortfall for Gen X is a pressing issue, with limited time for older members of this generation to catch up as retirement approaches [5] - Strategies to address this shortfall include maximizing contributions to retirement accounts, delaying Social Security benefits to increase monthly payouts, and considering longer work tenures or more sustainable job roles as they age [7]

Retirement is often framed as the reward after decades of work. The alarm clock goes quiet, the schedule opens up, and time finally feels like it belongs to the people who earned it. For many Americans, though, the approach to retirement brings more unease than relief. A national LiveCareer survey found that 61% of working Americans say they fear retirement more than death, largely because of financial concerns. Instead of picturing travel or hobbies, many worry about whether their savings will last, how ...

Spaving — the act of spending money to save money — might seem beneficial to your wallet, but according to experts, the strategy can set you back in retirement. “The reality is you’re spending more money and diminishing long-term savings,” explained Geri Hopkins, chief operations officer at Skyla Federal Credit Union. “The money spent on these so-called deals could be more effectively invested in a high-yield savings account.”Spaving usually isn’t a one-time event, so if it becomes a regular habit, people ...

You could also opt for other types of savings accounts — money market, certificates of deposit , a traditional savings account — or build savings through investments, but a high-yield account may be your best bet for steady, nonvolatile growth.If you’re simply looking to build a general savings nest egg, however, a high-yield savings account is a solid strategy. Fortune notes that “the best rates are often found with online-only accounts,” so you’ll have to be fine with online banking. That said, you’ll ear ...

Mary Woulf was 22, a single mother and a college dropout. She went to a temp agency for a receptionist job. She did well on the test, so the agency sent her to its best client, a national mortgage lender. “I was only supposed to be there for three months,” she said. She stayed for 13 years. Early on, one of Woulf’s colleagues sat her down. “They knew I was just a single mom and trying to work hard,” she said. The mentor told her about the company’s 401(k) program. “They said, ‘One day you might have a ...

Hinterhaus Productions/ Getty Images Key Takeaways Most retirees' biggest regrets are not saving enough and not starting to save early; both can impact your finances and overall happiness later in life. Starting to save even small amounts early on pays off massively over time, thanks to compounding interest. With people living longer and traditional pensions fading from use, saving more than feels comfortable today can make the difference between just getting by and truly enjoying retirement. Ret ...

Tim Boyle / Getty Images News via Getty Images Key Points The median retirement savings for Americans aged 65 to 74 is $200K. A $200K nest egg generates only $8K annually using the 4% withdrawal rule. Claiming Social Security at 62 instead of 67 reduces monthly benefits by 30%. If you’re thinking about retiring or know someone who is, there are three quick questions causing many Americans to realize they can retire earlier than expected. take 5 minutes to learn more here The median retirement ...

simon jhuan / Shutterstock.com Quick Read Americans working with a financial advisor average $132,000 in retirement savings, versus $62,000 for those without one. Those with advisors plan to retire at 64 compared to 66 for non-advised savers. Advised savers are more likely to have emergency funds and long-term plans accounting for economic volatility. If you’re thinking about retiring or know someone who is, there are three quick questions causing many Americans to realize they can retire earlier ...