A new report shows that 401(k) accounts have reached record levels with the overall average balance reaching $80,000 at the end of the first quarter. The Fidelity Investments quarterly analysis explains the current record balances represent 75% growth from the first quarter of 2009 when average accounts dropped to $46,200.
“What we found really interesting, though, is that two thirds of the growth in account balances is due to the market and one third to contributions,” explains Jeanne Thompson, Vice-President of Market Insights with Fidelity Investments. She adds that this market to contribution ratio varies over time and it is the asset allocation along with markets that can really make the difference within account balances.
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