Although average retirement balances dipped slightly during the fourth quarter, 2024 proved to be a good one for retirement savers as 401(k) balances reached the second-highest average on record.
The average 401(k) retirement balance was $131,700 as of the fourth quarter of 2024, a slight decrease of half a percentage point from quarter three, but an 11% increase from Q4 2023, a 17% increase from Q4 2019 and a 44% increase from Q4 2014, according to Fidelity Investments’ Q4 2024 retirement analysis. Balances in 403(b) accounts averaged $117,800 as of Q4 2024. That also represents an 11% year-over-year increase, as well as a 27% jump from Q4 2019 and a 62% increase from 2014.
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