Average 401(k) Balances for Americans in Their 30s and 40s Rise Sharply
According to new data from Fidelity, the average 401(k) balance increased by 10.5% between March and June—marking the largest quarterly gain since early 2020. This surge is attributed in part to a strong stock market performance during that period. For workers in their 30s, the average 401(k) balance stands at $75,200, while those in their 40s have an average of $156,800. Fidelity also notes that employees are saving a historically high share of their income—on average 14.4% including employer contributions—which is close to the recommended target of 15%. Over 80% of participants were contributing enough to receive full employer matches. Experts emphasize that while these balances reflect strong savings, they should be considered alongside other retirement accounts and overall net worth for a complete financial picture.
Topics: 401(k) employee contributions Fidelity data retirement savings