The average 401(k) participant needs to work until age 73 to be able to afford retirement, according to an analysis of 10,000 accounts by employee benefits consulting firm Nyhart.

Nyhart also found that only 19% of employees will be able to retire by the age of 65, and that employees above the age of 55 will need to contribute 45% of the salary to be able to retire by age 65.

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