Not as Much as It Seems
How is your 401(k) doing? Fidelity Investment’s Q1 2019 retirement analysis shows that many retirement funds are following a positive trend.
Ten years after the Dow Jones hit its lowest mark in the financial crisis, retirement balances have more than doubled in 401(k), IRA, and 403(b) accounts. Average balances in 401(k) and IRAs both topped $100,000. Just over 168,000 Americans have at least $1 million in their IRAs and 180,000 Americans have at least $1 million in their 401(k) account.
That sounds like a lot of money – but is it really? Could you live in retirement on $100,000, or even $1 million?
Should you contribute even more to your retirement funds while you can?
Heading in the Right Direction
Fidelity’s Q1 data is promisin…