## Category: Personal Finance

Historical 401(k) Contribution Limit

Every year, the IRS sets the maximum 401(k) contribution limits based on inflation (measured by CPI). There are actually multiple limits, including an individual contribution, an employer contribution, and an age 50+ catch-up contribution. If you're currently working at a company with a plan, we highly suggest familiarizing yourself with its mechanics and any matching […]

Historical IRA Contribution Limit

Annually, the IRS sets a maximum IRA contribution limits based on inflation (measured by CPI). There are limits for an individual contribution and an age 50+ catch-up contribution. Since 1998, non-working spouses can also contribute up to the same limit as an individual. Whether an IRA is deductible or not is determined by a separate […]

Historical HSA Contribution Limit

Every year, the IRS sets the maximum HSA contribution limits based on previous limits and inflation, measured by CPI. They maintain a number of variables, chief among them an individual limit, a family limit, and an age 55+ additional "catch-up" contribution limit. What is the HSA contribution limit in 2023? The 2023 HSA contribution limit […]

Student Loan Debt: Stats by Age, Income, and Percentile

In the 2019 Survey of Consumer Finances, the average household reported $8,665.03 in education debt. The median household reported$0 in student loans. Only 21.4% of households reported carrying any student debt at all. But – the SCF doesn't give us a full snapshot of the data. While very useful for seeing the household distribution […]

Mortgage Debt: Home Debt Stats by Income Bracket, Age, and Percentile

In 2019, the average American household held $75,968.96 in mortgage debt, home equity loans, and HELOCs with balances secured by their primary residence. The median household held$0 – although the homeownership rate is well over 60%. The average household also held $9,562.92 in debt secured by other residential property – think second and vacation […] Read More Average American Credit Card Debt by Generation, Income, and Percentile The average American household carried a$2,846.81 credit card balance in 2019. That debt was concentrated in only a few households, however – the median household carried no balance cycle to cycle, while the top 10% of households had $8,500 in credit card debt. 54.6% of households held no credit card debt balance from month to month. In this […] Read More Capital Gains Tax Calculator: Value of Waiting on an Investment Here you'll find a capital gains tax calculator, where you can model the cost to sell or hold on to an investment until you have favorable long-term capital gains. Enter your investment information and tax treatment, and the tool will show you the difference between short and long-term capital gains – numerically and visually. Capital Gains […] Read More Average American Debt – Debt by Generation, Income, Type, and Aggregates In 2019, the average American household carried$107,596.90 in debt. The median American household had $25,427.95 in debt, and the top 10% of households had$298,884.10 in debt. Not including real estate debt, the average and median American household carried $22,065.03 and$5,210.70 in debt, respectively. In this post, I'll break down American household debt averages and other statistics. We'll look […]

American Retirement Savings by Age: Averages, Medians and Percentiles

Below are estimated United States retirement savings statistics by age for 2020, from surveys conducted between February 2019 and early 2020 (the newest data we have in 2021). You'll find the average retirement savings by age, along with median, and top 1% of savings. For a fuller accounting of net worth as opposed to only […]