In your late 50s? Wonder how your 401(k) compares? On average, those in their 50s have $635,320 saved, with a median balance of $253,454. The numbers vary at different ages, but median numbers may be more representative due to outliers. Consider multiple income streams for retirement, including Social Security benefits averaging $2,013/month.

If you have $350,000 in your 401(k) by retirement, using the 4% rule means withdrawing $14,000 in the first year. Most Americans are behind on retirement savings, but learning “Social Security secrets” can boost income. Plan for retirement with various income sources like dividends, interest, annuities, and rents.

Read more at Yahoo Finance: This Is the Average 401(k) Balance for Retirees (and Others) Aged 58 and Older