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Fidelity: Retirement Account Balances Increase Year-Over-Year

Fidelity: Retirement Account Balances Increase Year-Over-Year

Fidelity Investments’ latest Q4 2024 retirement analysis shows that retirement savers experienced a year of growth in 2024.

While retirement account balances dipped slightly from Q3 2024, the average 401(k) balance of $131,700 ranked as the second highest on record and represented an 11 percent increase from Q4 2023.

By the numbers:

  • Gen X workers who have consistently saved for 15 or more years saw their retirement account balances grow 18 percent from $508,000 to $589,400 between 2023 and 2024.
  • Total average 401(k) savings rates remained steady this quarter at 14.1 percent, which is up slightly from a year ago (13.9 percent).

Published by

Darryl Hicks

Darryl Hicks is Vice President of Communications for the National Reverse Mortgage Lenders Association. In this capacity, Hicks writes for NRMLA's publications, manages the association's web sites and social media accounts, assists committees and the Board of Directors, and manages the Certified Reverse Mortgage Professional designation. Prior to joining NRMLA in 1999, Hicks spent three years in the Washington, D.C. bureau for National Mortgage News.