A new study from Fidelity Investments shows 401(k)participants managed to recoup much of their losses from one of theworst market downturns in history. And savers who were consistentover the past decade have actually seen their account balancesincrease by nearly 150 percent.
Average 401(k) account balances ended the year at $64,200, upanother 5.7 percent from the end of the third quarter and up 28percent for the year, according to Fidelity.
"The good news is that many workers, in spite of the economy,chose to save in their 401(k)s throughout 2009, and as the marketsrecovered, so did many Americans' account balances," said JimMacDonald, president of Workplace Investing at FidelityInvestments. "When we took a longer-term view and looked at thepast decade, we found that many participants were able tosignificantly grow their nest egg, despite periods of great marketvolatility."
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 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.
