What is the demographic profile of households with 401K balances?
Based on a random sample of an older survey of consumers, this analysis examines the impact of demographics on 401K balances and total liquid asset balances. While the survey is not intended to be representative, we can see some interesting patterns. Clearly, 401K households tend to be homeowners in their peak earning years (34-54) with higher incomes. Once they hit 65 (and beging to retire), households tend to reduce their 401K balances.