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Sponsored by: GoNetspeed, a fiber internet provider
Despite economic uncertainty and sharp swings in the stock market, Americans' retirement accounts grew in size during the second quarter of 2023, Fidelity Investments recently reported. The quarter was the third consecutive period to show an increase in account balances.
The average IRA balance grew to $113,800, up 5% from the previous quarter and a 41% increase from 10 years ago, according to nationwide data compiled by Fidelity.
The average 401(k) balance jumped to $112,400, a 4% increase from the previous quarter and a 39% increase from 10 years ago.
At the same time, the average 403(b) balance increased to $102,400, 5% more than the amount in the previous quarter and a whopping 65% spike from 10 years ago.
Sponsored by: GoNetspeed, a fiber internet provider
Despite economic uncertainty and sharp swings in the stock market, Americans' retirement accounts grew in size during the second quarter of 2023, Fidelity Investments recently reported. The quarter was the third consecutive period to show an increase in account balances.
The average IRA balance grew to $113,800, up 5% from the previous quarter and a 41% increase from 10 years ago, according to nationwide data compiled by Fidelity.
The average 401(k) balance jumped to $112,400, a 4% increase from the previous quarter and a 39% increase from 10 years ago.
At the same time, the average 403(b) balance increased to $102,400, 5% more than the amount in the previous quarter and a whopping 65% spike from 10 years ago.
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The Giving Guide
The Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
-
Work for ME
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
-
The Mainebiz Innovation Hub
This special publication examines the innovation infrastructure in Maine and the resources available to help entrepreneurs at the various stages of their journey.
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If you had a $1 in 2020, you would need $1.19 today to have the same purchasing power. How could anyone be confident? Are we able to count on Social Security? Will the government tax our retirement funds even more to pay for the trillions they are giving away? Will health care and insurance continue to skyrocket (healthcare insurance has grown 54.1% since 2008). The only thing I am confident of is that the government will tax me when I die, so spend it, or the folks in DC and Augusta will.