Wells Fargo

Older Workers’ 401(k) Balances Hitting Record Levels

Posted on 11/9/2012 by |Money and Work | Comments

Bulletin Today | Money & SavingsIf you’ve contributed steadily to your 401(k) and didn’t get scared off by the down economy and the wild swings of the stock market, chances are you’re being rewarded now. The average 401(k) balance reached $75,900 at the end of the third quarter, an 18 percent increase over a year ago, a new study by Fidelity Investments has found. That was its highest level since the company began tracking this data 12 years ago. The news was even better for older workers: average balances were higher. …