According to Fidelity, the average balances  of 401(k) retirement accounts reached the highest level since Fidelity started tracking account values in 1998.

Key observations:

  1. The average account balance in the U.S. rose to $74,900 as of March 31, an increase of almost 12 percent from last year
  2. 10-year continuous participants have an average balance is about $191,000.
  3. Participants age 55 years or older and are 10-year continuous participants have an average is about $233,800.
  4. About two-thirds of the increase in account balances in the first quarter was driven by market performance, while one-third was from participant contributions
  5. Participants saved an average 8.2 percent of their salaries.
  6. Americans held $3.1 trillion in 401(k)s as of Dec. 31.

These figures show that contributing to a 401(k) early, at a “meaningful” rate and continuing to save makes a difference. Read more in this Bloomberg article:

Average 401(k) Balances Reach Highest Level, Fidelity Says

Average 401(k) Balances Reach Highest Level, Fidelity Sayshttp://noir.bloomberg.com/apps/news?pid=newsarchive&sid=aUstRNlUBCL4May 11 (Bloomberg) — Average balances of 401(k) retirement plans reached the highest level since Fidelity Investments began tracking account values in 1998.