Average Retirement Account Balances Are Down, but There's a Bright Spot for Savers
The first quarter of 2022 wasn't kind to retirement investors. The benchmark S&P 500 index shed about 5% of its value while the tech-heavy Nasdaq 100 dipped more than 9%. If your retirement account holds any broad-market funds, you've felt the sting of this downturn.
A recent study from financial company Fidelity confirms many retirement savers are in the same boat. The analysis finds that first-quarter average IRA balances dipped about 6% to $127,100 from the prior quarter. First-quarter average 401(k) balances fell 7% from the fourth quarter, landing at $121,700.
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Source Fool.com
