https://finance.yahoo.com/news/the-average-401-k-soared-466-over-the-past-10-years-194608825.html
Fidelity’s latest quarterly retirement savings update had something special to celebrate the 10-year anniversary of “the bottom.”
The investment giant examined the 1.64 million portfolios that were around at the end of March 2009, near when the Great Recession hit its nadir, and that are still around today. Its analysis provided a few important reminders to investors. Most importantly: Ten years is a long time, but it’s not exactly “the long run.”
In the decade between Q1 2009 and 2019, the average 401(k) balance, which had been $52,600, grew 466% to $297,700. That’s an 18.93% increase per year. For Gen X Fidelity customers, balances were up 626%. For the millennials, which only had $7,000 on average in Fidelity 401(k)s back in 2009, the cumulative percentage change was 1,762%.
Submitted May 14, 2019 at 09:06PM by coolcomfort123 http://bit.ly/2VVNHdh
