7 New Pieces of Good News on 401(k)s and IRAs: Fidelity

Fidelity Investments recently published its quarterly retirement analysis, showing that record-high contribution levels coupled with positive market conditions have pushed average account balances to their highest levels since the fourth quarter of 2021. Long-term savers observed the greatest improvement in account balances, demonstrating the power of steady participation in tax-advantaged workplace retirement plans. The update also spotlights the ways that small-business owners are embracing various opportunities to save for retirement, including through both individual-style plans focused on sole-proprietor owner-operators and options that allow employees to save and invest for the long term. Overall, Fidelity's data shows, Americans who have access to workplace retirement plans continue to make solid strides in their effort to prepare for life after work, despite the challenges presented by inflation, market volatility, geopolitical uncertainty and more. See the accompanying slideshow for seven key data points drawn from Fidelity's latest retirement update.