The Silicon Valley has often been considered the land of real estate boom, high-tech jobs increase and wealth. Moreover, now it has been regarded as one of the places in the world where people actually make and save a lot of money. San Franscisco and San Jose workers have decided to save around 15% of their annual income in 401ks. This was quite possible given the fact that the Silicon Valley was considered to fall into the category of some of the highest-paying regions in the country due to its plethora of good expert jobs and great potential for high-tech experts.
The area also boasts a tremendous high-income jobs potential and a remarkably rich array of highly beneficial jobs in Southern California.
The greatest amount of savings were noted in Raleigh NC, a place that boasts a great amount of medical and high-tech paying jobs, Houston is a hub of the oil unustry and has also presented an increase in its jobs setting. Also, newcomers have made it possible for the construction and education industries to go even higher up, thus resulting in an augmentation of oil prices.
Employers in San Jose, for example, are boasting an average of 3.5% to their employee's 401(k)s -- significantly lower than the national average equal to 4.4%. (Fidelity didn't account for any profit sharing, stock options or other corporate perks, however.)
On the other hand, cities in the South of the US have been marked as places that have the lowest savings rates, all of them having demonstrated an average equal to 12.4%.
In these cities, most workers do not make sufficient amount of money to save for their retirement plans.
