Ramsey Solutions financial expert George Kamel weighs in on Americans working past retirement age and provides advice for investors.
Balances for 401(k) retirement accounts hit the “second-highest average on record” in the final quarter of 2024, according to new data from Fidelity Investments.
The financial services company found in its newly-released fourth-quarter retirement analysis that balances for that type of retirement plan averaged $131,700.
That figure marked a jump of 11% year-over-year, according to Fidelity.
Close up of a 401(k) statement with a pie chart indicating asset allocation. (iStock / iStock)
Compared to 2024’s third quarter, however, average balances for 401(k)s posted a 0.5% decline, the analysis showed. The third quarter was when 401(k) plans notched their “highest average on record” for balances, with an average of $132,300.
The rate at which…
