Investing in a 401(k) is a smart way to save for retirement, but how much you should save varies based on your goals. The average 401(k) balance differs by age group, with significant gaps between average and median balances. The key is to set personalized savings goals to ensure financial security in retirement.

Financial planners suggest saving enough to cover 80% of your pre-retirement income. Factors like cost of living and desired lifestyle impact this estimate. Social Security benefits provide additional income, with the average retiree collecting around $2,071 per month. Calculate personalized savings goals to secure your financial future.

Many Americans are behind on retirement savings, but maximizing Social Security benefits can boost income. Secrets to increase benefits are available, potentially providing an extra $23,760 annually. Learn more about retirement strategies and boost your savings potential by joining Stock Advisor for valuable insights and tips.

Read more at Yahoo Finance: This Is the Average 401(k) Balance by Age. How Do Your Retirement Savings Stack Up?