By Nikki Young, CFP®
Financial Advisor

Many middle-aged Americans (generally age 45-65) are behind in their retirement savings. If this is you, you’re not alone. According to a 2023 Vanguard study, workers between the ages of 45 and 54 years old had a median 401(k) account balance of approximately $142,069, well below the commonly recommended target of six times your annual salary by aged 50.