The Daily Money: Do you contribute the average amount to your 401(k)?

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The Daily Money ALL THE MONEY NEWS YOU NEED TO KNOW   Tuesday, December 1 It's Tuesday, Daily Money readers. It's also the first day of December, which means 25 more days until Christmas and 31 more days until 2020 is finally over. Let's check out today's headlines in Money and Tech. We begin with your 401(k). Fidelity found the average amount participants invested in a "defined contribution" account was $7,270 over the 12-month period ending in September. If you fall below the average, you can take steps to boost your savings. Most of us have been busy scouring online retailers for holiday gifts and deals. But before you splurge, watch out for these seasonal pitfalls. Finally, President-elect Joe Biden is expected to unveil his economic team today. They face a challenging road ahead. Scroll down for more Money and Tech news, and thanks for reading. Brett Molina, Money/Tech editor $7,270: The average 401(k) contributions in a year In 2020, employee and employer investments added up to a combined average total savings rate of 13.5% of income. When shopping for holidays, heed safe buying tips Biden's economic team faces a dark winter How to say no to a company holiday party amid... Starbucks giving free coffee to front-line workers Are you overinvesting? Older Americans need to be... Amazon: 2020 holiday shopping season their biggest ever Facebook Oversight Board gets its first cases US billionaires who got richer during COVID-19 pandemic GM in talks with government on vaccine distribution   FOLLOW US Problem viewing email? View in browser Unsubscribe • Manage Newsletters • Terms of Service • Privacy Policy/Your California Privacy Rights • Privacy Notice • Do Not Sell My Info/Cookie Policy • Feedback © 2020 USA TODAY, a division of Gannett Satellite Information Network, LLC. 7950 Jones Branch Drive, McLean, VA 22102