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According to Charles Schwab’s SDBA Indicators Report, an industry-leading benchmark on retirement plan participant investment activity within self-directed brokerage accounts (SDBAs), the average account balance across all participant accounts finished at $273,412 for the third quarter ending September 30 — down 3.55% from the second quarter of 2022 and down 19.84% year-over-year.

SDBAs are brokerage accounts within retirement plans, including 401(k)s and other types of retirement plans, that employees can use to invest retirement savings in individual stocks and bonds, as well as exchange-traded funds (ETFs), mutual funds, and other securities that are not part of their retirement plan’s core investment offerings. Gen Xers made up approximately 46% of SDBA participants, followed by baby boomers (30%) and millennials (19%).

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