Fidelity study on 401k, median balance $32k

Discussion in 'Economics' started by a529612, Jul 27, 2007.

  1. Baby boomers are screwed?

    401(k) balances up 30%
    But Fidelity study also shows that most still contribute far less than allowed, and Baby Boomers are falling short.

    By Jeanne Sahadi, senior writer

    July 25 2007: 11:24 AM EDT

    NEW YORK ( -- Soaring stocks gave workers' savings a nice bump last year - but the latest numbers from Fidelity do not paint the picture of a cushy retirement.

    The median balance for those workers who had participated in their 401(k)s for at least one year rose 30 percent to $32,000, according to a report released Tuesday by Fidelity Investments, which administers plans covering 10 million participants.