According to Fidelity Investments, the nation’s largest 401(k) provider, the average 401(k) balance reached $84,000 during the third quarter of 2013, up 11% from $75,900 the previous year. This is overall average is based on 12.6 million accounts.
401(k) savers that have been actively contributing to their accounts over the past 10 years saw their average balance grow $223,100, up 19.6% during the 12 months that ended in June.
Fidelity also reported that fewer 401(k) participants are relying on “do-it-yourself” investing and instead are moving toward managed accounts and target-date funds. Managed accounts provide individualized investment advice.