For the First Time, Average Retirement Saving Balances Reach Six Figures in 2017

Fidelity Investments press release February 8, 2018 ---------- IRA and 401(k) accounts continue to hit record levels. Increasing contributions and a strong stock market drove both the average 401(k) and IRA balances over six figures. The average 401(k) balance rose to $104,300, 13 percent higher than Q4 2016. The average IRA balance climbed to $106,000, which is also a 13 percent year-over-year increase. In addition, long-term 401(k) savers saw significant increases to their average account balance. For workers who have been contributing to their 401(k) for 10 consecutive years, the average 401(k) account balance increased to $286,700, up from $233,900 a year earlier. For individuals who have been in their 401(k) plan for 15-straight years, the average balance rose to $387,100, up from $318,500 in Q4 2016. To learn more click on the picture below to read the release.