How much money Americans in their 30s and 40s have in their 401(k)s
Fidelity data shows that 401(k) balances for Americans in their 30s and 40s grew by 10.5% in the second quarter of the year. Financial experts emphasize the importance of consistent contributions and employer matching to reach long-term retirement goals.
Why it matters
Understanding retirement savings trends provides insight into the financial health and preparedness of the workforce.
Boosted by a strong stock market , the average 401(k) balance jumped 10.5% from March through June — the biggest quarterly increase since 2020, according to new data from Fidelity.
Here’s how much Fidelity participants in their 30s and 40s have socked away, on average:
Workers are also saving a historically high share of their pay, Fidelity says. Including employer contributions, 401(k) holders are investing an average 14.4% of of their paychecks, just shy of Fidelity's recommended 15%. More than 8 in 10 participants were also contributing enough to receive their full employer match — a contribution based on how much a worker puts into their 401(k), up to a set limit.
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