Retirement Funds Reach Record Highs

A pair of reports from Vanguard and Fidelity Investments reveal that the balances in America’s retirement accounts have surged to higher than ever before at the end of 2013, with Fidelity reporting an average balance of $89,300 and Vanguard reporting $101,650.

These increases are largely driven by the massive gains in stocks over the course of 2013, and could lead to some Baby Boomers who have been delaying retirement finally leaving their jobs. In addition to the gains from stocks, more employers are making greater contributions to workers’ retirement funds, which has helped to drive the increase in balances as well.

While the country still faces a daunting retirement savings deficit, these trends are encouraging and indicate that we may be starting to dig our way out.

Leave a Reply