Friday, November 4, 2016

401(k) & IRA Balances - Fidelity Q3 Analysis

Bloomberg's Suzanne Woolley reported the following findings from Fidelity:
The average IRA balance rose 5 percent in the third quarter and is up 6 percent year over year, to a balance of $94,100, up from $66,100 five years ago.
The average 401(k) balance gained for the second quarter in a row, inching up 2 percent, to $90,600 for the third quarter. That amount is a 7 percent jump from 2015's third quarter and up from an average of $64,300 five years ago, according to Fidelity Investments. Fidelity administers 401(k) plans for more than 14 million plan participants.
People who have had a 401(k) with the same company for 15 years have average account balances of $331,200.
Fidelity press release with more information.

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