Workers Weather Market Uncertainty to Save for Retirement
Fidelity Investments’ second-quarter 2022 analysis of savings shows that while average retirement account balances dropped, losses were less severe than the market’s declines in Q2. The losses were similarly outstripped by those in the last period of high market volatility that investors experienced, the first quarter of 2020. Average 401(k) balances dropped to $103,800 in Q2, down 20 percent from a year ago and 15 percent from Q1 2022; average 403(b) account balances decreased to $93,300, down 18 percent from a year ago and 13 percent from the last quarter.
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