Retirement Account Balances Higher Than Ever

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One of the largest financial services groups in the United States, Fidelity, announced a large average increase in the balances of its individual retirement savings accounts (IRAs) during the second quarter of 2014. The average balance in a Fidelity IRA went up by 15% during the period to reach $92,600. This average is the highest ever achieved on the retirements accounts of the group.

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The average balance on a Fidelity 401(k) account also marked a record during the second quarter of 2014. It rose by nearly 13% to reach $91,000.

About 25% of the increase is attributed to larger contributions made by both employees and employers. The major contributor, however, was the continuous upward surge of the stock market. The rising stock prices produced a higher return on the money invested in them.

The employees who have been saving for a longer period of time achieved the largest gains on their 401(k) accounts. Those who have been contributing for 10 years got 15% average increase in their 401(k) account balances during the past decade to reach an average of $246,200.

Mailynne

Mailynne

Mailynne serves as a content strategist and writer for mortgage.info. She is ahighly task-oriented strategic planner and experienced writer. Over the past 10 years, Mailynne has managedcontent for both large corporations, non-profits and businesses. She specializes in managing digital marketing,branding and web development content. Mailynne has worked with a variety of local, national and international organizations.

Contact: mailynne@mortgage.info
Mailynne

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