Some good news for retirement savers: Fidelity's Q2 2023 Retirement Analysis revealed several promising trends across all generations but especially among younger savers. Driven by steady employer and employee contributions along with favorable market conditions, retirement account balances across generations increased for the third straight quarter, led by Gen Z workers, whose 401(k) balances increased 66% during the previous year.
Young investors between the ages of 18 and 35 also saw a 34.4% increase in IRA accounts year-over-year and a 34.8% increase for females in this age bracket.
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