Retirement investors at Fidelity have seen the average 401(k) balance slip below $100,000 and the rate of saving has slowed.
During this time of high inflation and increased interest rates, investors are understandably nervous about finances.That's according to the 3Q analysis ofThe percentage of individuals feeling negative has increased to 32% in the past year and is greater than the 30% who have positive feelings.
The average IRA balance was $101,900 in Q3, a 24.9% decrease from Q3 2021, an 8% decrease from last quarter, and a 33% increase from ten years ago.FIDELITY STUDY SHOWS 'DOWNRIGHT UGLY' RETIREMENT MOVES AMERICANS MADE OVER THE PAST TWO YEARSAlthough average account balances have decreased, the data suggests retirement savers have kept their eyes on the prize and stayed strong on their retirement goals.
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