Fidelity: Retirement Account Balances Rebound, Savings Rates Hit Record Levels
Average retirement account balances rebounded in the first quarter after a dip at the end of 2018, finds the newest Fidelity Investments analysis of retirement savings trends.
According to a Fidelity press release, the rebound can be attributed to a positive stock market performance and record contribution levels to retirement accounts. The number of people with $1 million or more in their 401(k) increased to 180,000, up from 133,800 at the end of Quarter 4.
The number of IRA millionaires increased to 168,100, up from 138,800 the previous quarter.