Fidelity report

Average 401(k) Balances for 55-Plus: $255,000

Posted on 06/17/2013 by |Money and Work | Comments

Bulletin Today | Money & SavingsHell-o 401(k). So nice to see you increasing in value. Here’s hoping for a record second quarter just like the first. Strong employee/employer contributions and a rocking stock market boosted the average 401(k) balance during the first three months of the year. It hit $255,000 for participants age 55 and older who worked at their current employer for 10 years or more, according to a Fidelity Investments quarterly analysis of its 401(k) accounts, which had more than 12 million participants. …

Retiree Healthcare Costs Fall (But They’re Still Daunting)

Posted on 05/15/2013 by |Money and Work | Comments

Bulletin TodayHealth care costs for retirees are going down. But don’t get too excited. A 65-year-old couple retiring this year will still need a whopping $220,000 to pay for health care for the rest of their lives. I know what you’re thinking. How does $220,000 in out-of-pocket medical costs represent a decline? Well, if that same couple retired last year, they would’ve needed $240,000, according to a Fidelity Investments report released Wednesday. By all means, the figure is daunting. But at …