Some good news for retirement savers: Fidelity's Q2 2023 Retirement Analysis revealed several promising trends across all generations but especially among younger savers. Driven by steady employer and employee contributions along with favorable market conditions, retirement account balances across generations increased for the third straight quarter, led by Gen Z workers, whose 401(k) balances increased 66% during the previous year.
Young investors between the ages of 18 and 35 also saw a 34.4% increase in IRA accounts year-over-year and a 34.8% increase for females in this age bracket.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
