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How Job-Hopping Can Hurt Your Retirement

While job hopping has gained momentum, especially among Millennials as the stigma of switching jobs frequently has declined, this new norm appears to be affecting the amount of money saved for retirement.

The median balance in 2014 of 401(k) accounts is $18,127, according to Torsten Sløk, an international economist for Deutsche Bank. Workers who are 18 to 48 years have an average of 12 jobs in their career and half of them occur before the employee turns 25, according to data from the U.S. Bureau of Labor Statistics.

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