Average 401(k) balance soars to record high

02/13/2014 | CNNMoney

The average 401(k) balance rose to $89,300 at the end of 2013, up 15.5% from $77,300 the year before, according to Fidelity Investments. Much of the gain came from the rising stock market, which lifted the major indexes 20% or more. Statistics indicate Americans in general are still not adequately prepared to finance retirement.

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