401k Assets Reach $1.9 Trillion

401k statistics for the year as reported by the U. S. Department of Labor Employee Benefits Security Administration (EBSA):

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Some Myths About 401k’s
Myth 4: Most people take loans or cash out of their 401k's.

• A loan from a 401k's is sometimes a necessity for a participant, however, nearly four out of five participants have rejected the urge to take out a loan.

• Seven out of 10 participants opt not to cash out of their 401k's in the months following a separation from an employer, instead wisely electing to stay in-plan or rolling over into another qualified retirement account such as an IRA.
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401k Facts

In 2007, 53% of U.S. households owned at least one retirement account, whether an individual retirement account, a 401(k) plan, or other employment-based retirement account.
The median combined balance of all retirement accounts owned by households with at least one account was $45,000. Twenty-five percent of households had total retirement account balances of $140,000 or more, and 25% of households had total retirement account balances of $11,000 or less. (SOURCE: Congressional Research Service: Retirement Savings and Household Wealth in 2007)

Some Myths About 401k’s