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Retirement Savings on the Rebound, Research Shows
401(k) account balances have gone up 93 percent, nearly double since the economic downturn in 2009 according to the latest research from the Principal Financial Group(R) . While much of the increase reflects a rebounding market, the study found a significant increase in participation and savings rates since the market collapse, with account balances rising 17 percent in 2013 alone to an average of $54,000. “The economic downturn may finally be in the rear view mirror, but the lessons learned from the crisis are hopefully influencing our savings habits as a nation moving forward,” said Jerry Patterson, senior vice president of Retirement and Investor Services for The Principal(R) …Read More
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