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Markets · Investing · Business
Finance
The Average 401(k) Balance Is Near Record Highs. But Is It Enough to Retire On?
The question might not be as straightforward as it first appears.
You're not imagining it: Saving enough for retirement has gotten more challenging than it was in the past. Earlier generations of retirees had pensions to rely upon and wages that kept pace with the rising cost of living. Social Security benefits also went further than they do today. Couple that with longer average life expectancies, and today's workers have their work cut out for them.
Many are responding by saving more, and the average 401(k) balance currently sits near record highs, according to recent Fidelity research. But whether the average person is on track for a comfortable retirement remains a very different question.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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