Stock image: 401(k) puzzle piece fitting into puzzle

Although the average 401(k) balance rose in the fourth quarter of last year, balances ended 2022 down 23 percent from 2021, says a new report from Fidelity Investments. In Q4/2021, the average 401(k) retirement account balance was $130,700, and in Q4/2022, it was $103,900, after rebounding from $97,200 in Q3/2022, according to Fidelity.

However, despite record inflation last year and a possible recession on the horizon, U.S. investors remain committed to their retirement objectives, according to Fidelity. Given all the stresses in the world today, such as natural disasters and geopolitical events, Americans continue to confront challenging times in our economy,” said Kevin Barry, president of workplace investing at Fidelity Investments.

“Fortunately, the data shows that retirement savers understand the importance of saving for the long term, despite market shifts,” he said. “We are encouraged to see people look past the current volatility and continue to make smart choices for their future.”

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

 

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2023 ALM Global, LLC. All Rights Reserved.