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The average balance for the so-called 401 (k) “millionaires” came to $1,580,000, up from $1,551,300 in the fourth quarter, a Fidelity spokesperson said.
The number of retirement savers with $1 million or more in their 401(k) accounts jumped 20% from September to the end of December, according to Fidelity.
While the average employer-provided 401 (k) balance was $107,700, according to a Fidelity Investments report published last fall, a large portion of working Americans simply aren’t saving.
Fidelity Investments. Fidelity Investments, formerly known as Fidelity Management & Research ( FMR ), is an American multinational financial services corporation based in Boston, Massachusetts. Established in 1946, the company is one of the largest asset managers in the world, with $4.9 trillion in assets under management, and, as of December ...
By Melanie Hicken NEW YORK - 401(k) balances reached record highs in 2012, as a strong stock market and increased contributions helped retirement savers continue to recover from recession losses.
And it's possible that Fidelity's analysis undercounts retirement account millionaires, given individuals may contribute to both 401 (k)s and IRAs, or have accounts at other institutions.
Rolling over a 401 (k) with high-fee investments into an individual retirement account ( IRA) with lower-cost investment options or to your current employer’s 401 (k) plan could save you big ...
Across all age groups, the average 401 (k) balance is $112,572. This number may be skewed by extremely high-earning outliers, however. The median may be a better figure to gauge where most ...
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