Average retirement savings account balances rose in the second quarter despite pandemic fears, according to Fidelity Investments. The increase in retirement nest eggs — mainly in 401(k) accounts and IRAs — occurred due to gains by the stock market and steady contributions to retirement accounts.
The average retirement savings in a Fidelity-held IRA was $111,500 as of June 30. That was a 13% jump from the first quarter. And it was up slightly from the average IRA balance a year ago.
Paul Katzeff | Investor’s Business Daily