Does Your 401(k) Balance Beat the Average Millennial's?
Living on Social Security benefits alone would mean you'd have a tough time in retirement, so you need another income source.
For many people, money to supplement Social Security comes from a 401(k) because 401(k)s are easy to invest in. You get access to them at work, you may even be signed up by default, and your employer will often help contribute when you invest.
If you're going to rely on your 401(k) to support you in your later years, it's important to keep tabs on how your account is growing. And, since your account generally gets bigger as you get older, you may want to see how your balance compares with others in your age range.
Source Fool.com
