Tag: 401(k) Balances Not a Cause for Celebration!
Fidelity announced with great fanfare in mid-February that the average 401(k) balance hit a record high of $77,300 by the end of 2012. It is good news that balances are up from a year earlier, but $77,300 does not indicate success in retirement saving. There is nothing encouraging about this number. For most private sector…