The Average 401(k) Is Down Almost $27,000 Over the Past Year
It would more than fair to say that 2022 was a tough year for investors. Recession fears and inflation drove the stock market into several downward spirals, and that's had a large impact on retirement savers in particular.
As of the fourth quarter of 2021, the average 401(k) plan balance was $130,700, reports Fidelity. But as of the fourth quarter of 2022, the average 401(k) balance had shrunk to $103,900. That's a difference of almost $27,000.
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Source Fool.com
