Personal Finance
You’re Killing It With Your 401(k)
The average balance in Fidelity’s survey is a record $92,500. For workers with the same employer for 10 years, it’s a quarter-million dollars.
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If the balance in your 401(k) retirement savings plan is more than $92,500, you can take a little victory lap. You're above average.
That balance marks a record in Fidelity Investments' quarterly analysis, which looks across 22,100 corporate defined-contribution plans and 14.5 million participants. It's a gain of $4,300, or about 5 percent, from a year ago and a big jump from the $69,400 average balance of five years ago. (A sobering caveat to this news: One in three nongovernmental employees have no retirement plan at all through their jobs.)