Fidelity examined the accounts of 1.64 million individuals who invested in the same 401(k) plan over the past 10 years. (Photo: Shutterstock)
(Bloomberg) –Investors who've had 401(k) accounts at Fidelity for a decade saw their average balance increase sixfold to almost $300,000 since the market bottomed after the global financial crisis, the company said.
Workers saving for retirement saw their 401(k) balances crater in the 2008-to-2009 market meltdown. Ten years ago, in the first quarter of 2009, investors had an average account balance of $52,600, according to a report Thursday by the Boston-based firm.
In March of that year, the S&P 500 index hit a low. It has more than quadrupled in value since.
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