Median 401(k) Balance Down to $23,000

At the peak of his retirement savings, around 2006, John Taylor had about $66,000 in his employer-sponsored 401(k) -- until the recession and a chain of unexpected events drained his fund completely. Taylor's story may sound unthinkable to many American workers who don't think twice about their employer-sponsored 401(k) plans, which allow workers to set aside untaxed dollars that can accumulate tax-free until retirement. But the Loveland, Colo., 55-year-old's experience can serve as a reminder...Full Story
Commenting on this article is closed.