Fidelity: 401(k) balances up more than 10%

  @melhicken August 27, 2013: 12:48 AM ET
How 401(k) fees eat away at your savings
NEW YORK (CNNMoney)

Average 401(k) balances were up more than 10% during the second quarter, despite a bumpy stock market that left many investors on edge.

Fidelity Investment's average 401(k) balance came in at $80,600 at the end of the second quarter of 2013 -- up more than 10% from the same time last year, according to a report released Tuesday by Fidelity, which represents 12.4 million U.S. workers.

Related: Don't panic! Selling now could hurt your nest egg

It's been a strong year for 401(k)s. The markets had an especially rocky June, but all three major indexes still had a solid second quarter, recording gains of between 2% and 5%.

Those who have been consistent with socking away money for retirement are even better off, according to Fidelity.

Employees who have been employed and in a 401(k) plan for the last 10 years had average balances of $211,800 at the end of June, up nearly 19% from a year ago, according to the report. To top of page



Join the Conversation
Overnight Avg Rate Latest Change Last Week
30 yr fixed4.36%4.24%
15 yr fixed3.39%3.26%
5/1 ARM3.36%3.27%
30 yr refi4.34%4.22%
15 yr refi3.38%3.24%
View rates in your area
 
Find personalized rates:
Rate data provided
by Bankrate.com
CNNMoney Sponsors
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.