If I Could Tell Everyone Saving for Retirement 1 Thing, I'd Tell Them to Do This With Their 401(k)

Saving for retirement can be incredibly difficult, and if you feel like you're falling behind, you're not alone. The median 401(k) balance across all age groups is $35,286, according to a 2024 report from Vanguard, while the median balance among those closest to retirement at ages 55 to 64 is only $87,571.There's no magic solution to make you a millionaire overnight, and any gimmicks that promise such fast results will likely cost you more than you gain. That said, there is one simple trick that I highly recommend everyone with a 401(k) take full advantage of -- and it requires next to no effort on your part.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool