Yes, this does not compute.
Possible explanations include:
a) Americans have saved huge amounts in taxable accounts.
b) Americans will sell their businesses for large profits and use proceeds to fund retirement.
c) Americans will sell their pricey homes for large profits and use proceeds to fund retirement.
d) Americans will receive a huge inheritance and be on "easy street" in retirement.
I don't believe most Americans will experience the scenarios listed above.

e) Winning the lottery
f) Successfully suing something, or somebody, for something, anything, and the lawyers didn't take all of it.
g) Elon Musk will give a million dollars to anyone that says a nice thing about the app formerly known as Twitter.
Strategies that won't be tried:
a) Paying cash for used vehicles

@msf
Good points!
I realize this is "financial popcorn" but I sometimes read these articles for entertainment.
Perhaps I should pursue a different hobby? ¯\_(ツ)_/¯
The average IRA balance could be skewed much higher if Peter Thiel's IRA was included.
Lord of the Roths

Per the OP provided link - The average retirement account balance for U.S. households was $333,940 in 2022, according to the Federal Reserve Survey of Consumer Finances (SCF). That’s a 12.9% increase from $295,740 in 2019.

Another possibility - multiple sources (with different sampled populations), multiple definitions.
Americans believe they need to save an average of $1.8 million for retirement,
From Charles Schwab, presumably but not necessarily Schwab customer beliefs.
The average 401(k) balance in the second quarter of 2024 was $127,100
From Fidelity - probably just the accounts that Fidelity administers. How representative is that of the working (and retired) population? Also and importantly, this is an average per account, not per person, and people may have multiple 401(k) accounts, not to mention 403(b) accounts, 457 accounts, and other employer-sponsored accounts.
68% of American workers in 2024 feel somewhat or very confident in their ability to have enough money in retirement
From EBRI - a source I consider more reliable, but I'd still have to look at their methodology to know whom they were polling and how the question was phrased.
https://www.ebri.org/docs/default-source/by-the-numbers/ebri_rsrc_facts-and-figures_011923.pdf
I view this piece as financial porn, or more magnanimously financial popcorn - fun to munch on but ultimately just airy fluff. Enjoy it for what it's worth.
Bonus: The average IRA balance, as opposed to the median retirement account balance could be skewing high thanks to IRA accounts like Mitt Romney's, which was worth $1M over a decade ago.

Yes, this does not compute.
Possible explanations include:
a) Americans have saved huge amounts in taxable accounts.
b) Americans will sell their businesses for large profits and use proceeds to fund retirement.
c) Americans will sell their pricey homes for large profits and use proceeds to fund retirement.
d) Americans will receive a huge inheritance and be on "easy street" in retirement.
I don't believe most Americans will experience the scenarios listed above.

Kind of bizarre I think. Op. cit.
A one,

Americans believe they need to save an average of $1.8 million for retirement,

And a two:

The average 401(k) balance in the second quarter of 2024 was $127,100

And a three:

68% of American workers in 2024 feel somewhat or very confident in their ability to have enough money in retirement,

That don't add up, do it?

Lots of interesting Stats
deposit accounts retirement statistics

The main issue apparently isn't about salary increase. The union is trying to restore some version of a defined benefit retirement plan. Probably a lost cause, but I wish them well.

Thanks @yogibearbull.
I'd like to add (since I just turned 65):

2025 standard deduction over 65
There's an additional standard deduction for taxpayers 65 and older and those who are blind. For 2025 that additional amount is $1,600 ($2,000 if unmarried and not a surviving spouse).
Those eligible can add the extra standard deduction to the regular amount for their filing status. So, a single taxpayer 65 or older (or who is blind) can claim a total standard deduction of $17,000 on their 2025 federal tax return.

Source:
https://kiplinger.com/taxes/the-new-standard-deduction-is-here
Also, found these contribution limits for 2025:
"Remember there are catch-up provisions that increase some of these limits"
-I noticed they missed the $1K catch-up provision for HSA

https://www.sec.gov/Archives/edgar/data/754510/000075451024000276/filing8195.htm
497 1 filing8195.htm PRIMARY DOCUMENT
Supplement to the
Fidelity® Small Cap Growth Fund
Class A, Class M, Class C, Class I, and Class Z
September 28, 2024
Prospectus
The following information supplements information found in the "Fund Summary" section under the "Purchase and Sale of Shares" heading.
The fund is currently closed to new investors. For more information, see the "Additional Information about the Purchase and Sale of Shares" section of the prospectus. Remember to keep shares in your fund position to be eligible to purchase additional shares of the fund.
The following information supplements information found in the "Shareholder Information" section under the "Additional Information about the Purchase and Sale of Shares" heading.
Effective the close of business on October 16, 2024, new positions in Fidelity® Small Cap Growth Fund (the fund) may no longer be opened. Shareholders of the fund on that date may continue to add to their fund positions existing on that date. Investors who did not own shares of the fund on October 16, 2024, generally will not be allowed to buy shares of the fund except that new fund positions may be opened: 1) by participants in most group employer retirement plans (and their successor plans) if a qualifying fund is already established as an investment option under the plans (or under another plan sponsored by the same employer), 2) by participants in a 401(a) plan covered by a master record keeping services agreement between Fidelity and a national federation of employers that included a qualifying fund as a core investment option, 3) for accounts managed on a discretionary basis by certain registered investment advisers that have discretionary assets of at least $500 million invested in mutual funds and already included the fund in their discretionary account program, 4) by a mutual fund or a qualified tuition program for which Fidelity serves as investment manager, 5) by a portfolio manager of the fund, 6) by a fee deferral plan offered to trustees of certain Fidelity® funds, if the fund is an investment option under the plan, 7) by qualified intermediaries to facilitate in-kind redemption activity when deemed by the Adviser to be in the best interests of the fund, and 8) by certain asset pools associated with an organization that already offers a qualifying fund as an investment option in its retirement plan(s). These restrictions generally will apply to investments made directly with Fidelity and investments made through intermediaries. Investors may be required to demonstrate eligibility to buy shares of the fund before an investment is accepted.
ASCP-PSTK-1024-138
1.808092.138
October 16, 2024
Supplement to the
Fidelity® Small Cap Growth K6 Fund
September 28, 2024
Prospectus
The following information supplements information found in the "Fund Summary" section under the "Purchase and Sale of Shares" heading.
The fund is currently closed to new investors. For more information, see the "Additional Information about the Purchase and Sale of Shares" section of the prospectus. Remember to keep shares in your fund position to be eligible to purchase additional shares of the fund.
The following information supplements information found in the "Shareholder Information" section under the "Additional Information about the Purchase and Sale of Shares" heading.
Effective the close of business on October 16, 2024, new positions in Fidelity® Small Cap Growth K6 Fund (the fund) may no longer be opened. Shareholders of the fund on that date may continue to add to their fund positions existing on that date. Investors who did not own shares of the fund on October 16, 2024, generally will not be allowed to buy shares of the fund except that new fund positions may be opened: 1) by participants in most group employer retirement plans (and their successor plans) if a qualifying fund is already established as an investment option under the plans (or under another plan sponsored by the same employer), 2) by participants in a 401(a) plan covered by a master record keeping services agreement between Fidelity and a national federation of employers that included a qualifying fund as a core investment option, 3) for accounts managed on a discretionary basis by certain registered investment advisers that have discretionary assets of at least $500 million invested in mutual funds and already included the fund in their discretionary account program, 4) by a mutual fund or a qualified tuition program for which Fidelity serves as investment manager, 5) by a portfolio manager of the fund, 6) by a fee deferral plan offered to trustees of certain Fidelity® funds, if the fund is an investment option under the plan, 7) by qualified intermediaries to facilitate in-kind redemption activity when deemed by the Adviser to be in the best interests of the fund, and 8) by certain asset pools associated with an organization that already offers a qualifying fund as an investment option in its retirement plan(s). These restrictions generally will apply to investments made directly with Fidelity and investments made through intermediaries. Investors may be required to demonstrate eligibility to buy shares of the fund before an investment is accepted.
SCPK6-PSTK-1024-104
1.9886693.104
October 16, 2024
Supplement to the
Fidelity® Small Cap Growth Fund and Fidelity® Small Cap Value Fund
September 28, 2024
Prospectus
The following information supplements information for Fidelity® Small Cap Growth Fund found in the "Fund Summary" section under the "Purchase and Sale of Shares" heading.
The fund is currently closed to new investors. For more information, see the "Additional Information about the Purchase and Sale of Shares" section of the prospectus. Remember to keep shares in your fund position to be eligible to purchase additional shares of the fund.
The following information supplements information found in the "Shareholder Information" section under the "Additional Information about the Purchase and Sale of Shares" heading.
Effective the close of business on October 16, 2024, new positions in Fidelity® Small Cap Growth Fund (the fund) may no longer be opened. Shareholders of the fund on that date may continue to add to their fund positions existing on that date. Investors who did not own shares of the fund on October 16, 2024, generally will not be allowed to buy shares of the fund except that new fund positions may be opened: 1) by participants in most group employer retirement plans (and their successor plans) if a qualifying fund is already established as an investment option under the plans (or under another plan sponsored by the same employer), 2) by participants in a 401(a) plan covered by a master record keeping services agreement between Fidelity and a national federation of employers that included a qualifying fund as a core investment option, 3) for accounts managed on a discretionary basis by certain registered investment advisers that have discretionary assets of at least $500 million invested in mutual funds and already included the fund in their discretionary account program, 4) by a mutual fund or a qualified tuition program for which Fidelity serves as investment manager, 5) by a portfolio manager of the fund, 6) by a fee deferral plan offered to trustees of certain Fidelity® funds, if the fund is an investment option under the plan, 7) by qualified intermediaries to facilitate in-kind redemption activity when deemed by the Adviser to be in the best interests of the fund, and 8) by certain asset pools associated with an organization that already offers a qualifying fund as an investment option in its retirement plan(s). These restrictions generally will apply to investments made directly with Fidelity and investments made through intermediaries. Investors may be required to demonstrate eligibility to buy shares of the fund before an investment is accepted.

When selling or exchanging shares, you should be aware of the following fund policies:
For accounts held through a financial intermediary, each fund typically expects to pay sale proceeds to the financial intermediary for payment to redeeming shareholders within two business days following receipt of a shareholder redemption order; however, each fund may take up to seven days to pay sale proceeds."
Bizarre wording given that you can buy them only through intermediaries and not directly through the fund.
In any case, the above general settlement time language is similar as in many mutual funds' prospectus. Below is the link to the prospectus (strange that I pulled it in my Schwab account and I get a morningstar.com link.)
https://doc.morningstar.com/docdetail.aspx?clientid=schwab&key=84b36f1bf3830e07&cusip=808515605

It is not all that unusual for fund families, especially boutique firms, to sell funds only through third party distributors.
At one time Janus closed off its direct sales channel to new investors. It allowed only existing investors with class D shares to continue investing directly. Everyone else had to buy T shares through third parties.
Schwab originated as a brokerage and likely leaned on that distribution channel when it started running funds.
With respect to M*, as I recall it used to make prospectuses available to users of its websites. As with much of M*'s content, M* seems to have monetized its fund documents:

The Clients We Serve
The Morningstar Document Library is ideal for brokerage firms or retirement plan service providers that want to outsource costly document collection and maintenance. In addition to this web interface, the Document Library can also be private-labeled or provided through APIs. Advisors and plan providers can grant investors direct access to the library via their own websites, ensuring investors receive immediate access to key documents. Fund companies and compliance officers find it a valuable resource for current and archived proprietary and competitor filings.

https://doc.morningstar.com/home.aspx
Note the "clientid=schwab" argument in the URL.
M* is providing all of the fund documentation for Schwab, not just for Schwab funds. For example, here's Schwab's page for FCNTX and the link to the fund's prospectus.
https://www.schwab.com/research/mutual-funds/quotes/summary/fcntx
https://doc.morningstar.com/docdetail.aspx?clientid=schwab&key=84b36f1bf3830e07&cusip=316071109
M* is not the only third party provider of Schwab fund prospectuses. Here's your same SWVXX prospectus hosted by righprospectus.com
https://connect.rightprospectus.com/Schwab/TVT/808515605/SP?site=FundDocs
And links to all the Schwab fund docs hosted there:
https://connect.rightprospectus.com/Schwab/

Providing the right document solutions at the right time, every time
Donnelley Financial Solutions′s RightProspectus is the next generation in compliance communications for mutual fund, variable annuity, and retirement product providers, as well as broker/dealers and clearing firms. With RightProspectus, documents in our repository are automatically tracked and updated as changes are filed with the SEC, ensuring constant access to the most current and accurate prospectuses. RightProspectus represents a quantum leap forward featuring a new, state-of-the-art online platform.

https://rightprospectus.com/

It’s NYC. Perhaps the difference is that NYC promised, in writing, access to a traditional medicare supplement upon retirement. So we collectively have taken the Adams administration to court multiple times and so far, the courts have sided with us.

I'm not going to try to dissuade you from staying with Plan F. Peace of mind has a certain intangible value that for you exceeds $372.
Regarding absence of bills with Plan F, that's the theory. And at worst, you may get a couple of bills that you're not responsible for paying. But you still have to deal with them. Crash gave an example. The result of our crazy quilt insurance system.
With a PPO, it doesn't matter (much) whether the doctor accepts the plan or not. Typically the plan will have a higher copay for out of network doctors. The doctors themselves are required to charge no more than they could charge under Original Medicare. If they won't submit a bill to an insurer, then you pay upfront and submit the bill to the PPO for reimbursement. (I know, less peace of mind, more paperwork.) The point is simply that doctors accepting only OM does not stop the conversation (for some people).
Prior authorization: it's a myth that OM never requires prior authorization. It does, albeit for just a limited number of services and for certain durable medical equipment.
https://www.cms.gov/data-research/monitoring-programs/medicare-fee-service-compliance-programs/prior-authorization-and-pre-claim-review-initiatives
And despite horror stories (there's peace of mind, again), things usually go smoothly.
"Of the 46.2 million prior authorization determinations [in MA plans] in 2022, more than 90% (42.7 million) were fully favorable, meaning the requested item or service was approved in full."
https://www.kff.org/medicare/issue-brief/use-of-prior-authorization-in-medicare-advantage-exceeded-46-million-requests-in-2022/
OM prior authorization approval rates were generally lower (below 80% for outpatient services, below 70% for durable medical equipment in FYs 2021 and 2022). But that's not a fair comparison, because CMS selected for review a limited number of services that are more likely to be abused. Hence the denial rate is expected to be higher.
https://www.cms.gov/files/document/prior-authorization-and-pre-claim-review-program-statistics.pdf
"require prior authorization ... probably the reason why most good doctors shy away from Advantage plans". We can test that theory. Do most good doctors shy away from all commercial insurance - employer sponsored, ACA, etc.? The vast majority of these policies also require prior authorizations.
I know of providers that have dropped various insurers because of slow payments or other difficulties receiving payment. But it is individual insurance companies and not commercial insurance in general that they are dropping.
I do know of one doctor (4.8* on HealthGrades) who stopped taking all insurance other than OM this year. He's near retirement and fed up with dealing with insurance companies, period. As he's phasing out his practice, he doesn't mind losing some patients because of this change. I suggest that he is the exception, that most doctors take commercial insurance despite their prior authorization baggage.

Benz's new book appears to examine retirement holistically.
Non-financial considerations which may lead to improved retirement outcomes
are covered in addition to the financial aspects of retirement.
I haven't yet read Benz's book, but have a library hold on
"How to Retire: 20 Lessons for a Happy, Successful, and Wealthy Retirement."

Oct 12 Episode:

Morningstar’s retirement guru Christine Benz discusses the often overlooked non-financial aspects of retirement planning during this conversation about her new book, How to Retire: 20 Lessons for a Happy, Successful, and Wealthy Retirement.

Link to "Fee Only" List of Personal Financial Advisors:
https://napfa.org/

So, when someone posts about a fund I own now and says, Well, in 2022, it lost more than another fund or in the last 10 years, this fund was better than another, I don't care, what matters is what the fund is doing now..

The problem is defining "now." A fund that does well for a few months or even a year would be bad reason FOR ME to jump in, perhaps you are different. If you have a fund that outperforms for years then that would be a reason for me to move...but just as often I find the fund reverts to the mean rather than continue to outperform, a point you acknowledge in another post. I totally get the idea of riding the wave of a winner, but find that strategy hard to implement in real life. Truth is it's very hard to beat buy and hold with solid funds over a long period of time, or even an index fund. I suspect many of us know that deep down, but just because I'm a bad golfer doesn't mean I dislike golf.

Actually, most funds trail the SP500 with which has a very small expense ratio if you hold for decades. There is a good reason why Bogle and Buffett recommended the SP500 for decades....and it's the easiest way to invest. So, why are we discussing funds and trade?
I came to a conclusion that I want to participate in the markets by using best risk/reward funds. The idea is to find good performance wide range funds with lower volatility, and that will result in a better sharp ratio. My basic system from 2000 to 2013 was to use a fund screener every 4-6 months and find the best 5 risk/reward funds for 1-3 months + 1-3 years and invest 20% in each. After I have done it several years, I learned a lot more about the managers, their history, and their weaknesses and strengths.
2008 was a waking call, I lost 25% in that year, and since then I have been searching for a way to control meltdowns. It took me another 10 years to master that concept, but this time by using special bond funds.
As you can see, it took me years of practice and tweaking. You just can't wake up one morning and be successful doing it.
Of course, bad calls are built into it, the idea is to lose very minimal (which in bondland is 0.1-0.2%) and make a lot more when I'm right. I'm not your typical trader, if my trade is right, I can stay in it for months until I find a better fund.
Now, at retirement, my portfolio is big enough that I only need to make inflation + 2-3%(of course, I want more) and why I don't need to take a lot of risk.
What is "now"?
Years ago, using my original system, 'now' used to be 1-3 months but I also looked at 1-3 years just to be sure the fund did well for the short+longer term.
Since 2017, "now" is the last 2-3 weeks and where better trading is needed
"now" also means investing in the best wide range funds, why you don't want to diversify, and exactly what I have done.

https://www.sec.gov/Archives/edgar/data/1103243/000141304224000794/enscls497.htm
497 1 enscls497.htm
A series of PFS Funds
Supplement dated October 8, 2024
to the Prospectus and Statement of Additional Information
dated February 28, 2024
This supplement updates information currently in the Prospectus and Statement of Additional Information. Please retain this supplement for future reference.
The Board of Trustees (the “Board”) of the PFS Funds (the “Trust”) has approved a Plan of Liquidation (the “Plan”) relating to the Ensemble Fund (the “Fund”), effective October 3, 2024. Ensemble Capital Management, LLC, the Fund’s investment adviser (the “Adviser”), has recommended to the Board to approve the Plan due to the pending acquisition of the Adviser and the acquiring entity’s desire not to continue the mutual fund business. As a result, the Board has concluded that it is in the best interest of the shareholders to liquidate the Fund.
In connection with the proposed liquidation and dissolution of the Fund called for by the Plan, the Board has directed the Trust’s principal underwriter to cease offering shares of the Fund immediately as of the date of this Supplement. Shareholders may continue to reinvest dividends and distributions in the Fund or redeem their shares until liquidation. While undergoing an orderly liquidation, the Fund will invest in cash equivalents and will not be pursuing its investment objective.
It is anticipated that the Fund will liquidate on or about October 24, 2024. Any remaining shareholders on the date of liquidation will receive a distribution of their remaining investment value in full liquidation of the Fund. If you have questions or need assistance, please contact your financial advisor directly or the Fund toll-free at 1-800-785-8165.
IMPORTANT INFORMATION FOR RETIREMENT PLAN INVESTORS
If you are a retirement plan investor, you should consult your tax advisor regarding the consequences of any redemption of Fund shares. If you receive a distribution from an Individual Retirement Account or a Simplified Employee Pension (SEP) IRA, you must roll the proceeds into another Individual Retirement Account within sixty (60) days of the date of the distribution in order to avoid having to include the distribution in your taxable income for the year. If you receive a distribution from a 403(b)(7) Custodian Account (Tax-Sheltered account) or a Keogh Account, you must roll the distribution into a similar type of retirement plan within sixty (60) days in order to avoid disqualification of your plan and the severe tax consequences that it can bring. If you are the trustee of a Qualified Retirement Plan, you may reinvest the money in any way permitted by the plan and trust agreement.
This Supplement, and the existing Prospectus dated February 28, 2024, provide relevant information for all shareholders and should be retained for future reference. Both the Prospectus and the Statement of Additional Information dated February 28, 2024, have been filed with the Securities and Exchange Commission, are incorporated by reference, and can be obtained without charge by calling the Fund toll-free at 1-800-785-8165.

https://www.sec.gov/Archives/edgar/data/1609706/000158064224006057/crossshore-497.htm
497 1 crossshore-497.htm
CROSS SHORE DISCOVERY FUND
Institutional Shares
Supplement dated October 7, 2024
to the Prospectus and Statement of Additional Information dated July 29, 2024
The Board of Trustees has determined that it is in the best interest of shareholders to liquidate the Cross Shore Discovery Fund (the “Fund”).
As of the date of this supplement, the Fund is no longer accepting purchase orders for its shares and it will close effective December 31, 2024 (the “Closing Date”). Distributions to shareholders will be made within seven business days following the calculation of the December 31, 2024 net asset value of the Fund, which is expected to occur on or about January 29, 2024.
Effective immediately, the Fund is no longer pursuing its investment objective. All holdings in the Fund’s portfolio are being liquidated, and the proceeds will be invested in money market instruments or held in cash.
IMPORTANT INFORMATION FOR RETIREMENT PLAN INVESTORS
If you are a retirement plan investor, you should consult your tax adviser regarding the consequences of a redemption of Fund shares. If you receive a distribution from an Individual Retirement Account (IRA) or a Simplified Employee Pension (SEP) IRA, you must roll the proceeds into another IRA within 60 days of the date of the distribution in order to avoid having to include the distribution in your taxable income for the year. If you are the trustee of a qualified retirement plan or the custodian of a 403(b)(7) custodian account (tax-sheltered account) or a Keogh account, you may reinvest the proceeds in any way permitted by its governing instrument.
*****
PLEASE RETAIN FOR FUTURE REFERENCE.

Flagship investors at Vanguard get few perks such as 25 free trades on transaction fee OEFs per account. All our transactions are online, thus there is no fees. There is no dedicated rep for Flagship customers.
A year ago, we set up Personal Advisor Select service to manage our retirement funds. Initially the asset allocation plan was set up on phone calls and I revised them several times using their messaging system. The dedicated rep cannot be reached by phone, and it takes days to get return calls. The account set up took several months to complete.
What broke the camel’s back was that when my wife talked with the agent in case I passed on before her, she found the rep to be inexperienced to rely on. My wife is well informed of our proposed plan. We tried the discussion several times but we were not successful. Our goal is to have a human touch in managing the retirement funds. In the end, we exited our PAS relationship with Vanguard.

Early retirement passed me by years ago :) At 70, I still work 2-3 days a week. But alas, that ends at the end of this year.