Stock Market Volatility Tanks Retirement Savings By 23%

Savings accounts take beating with average 401(k) dropping below six figures

  • According to Fidelity Investments, the average 401(k) has declined by 23 percent compared to last year.
  • One year ago, the average 401(k) balance stood at $126,100. It dropped in June to an average of $103,800 and today, the average balance is $97,200.
  • Similarly, the average IRA balance has declined by 25 percent following three consecutive quarters of decline.
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