
How does your nest egg look today?
Chances are good that it has a few more cracks than it did a year ago. The stock market began sinking in January 2022 and has not fully regained its footing.
And yet, the picture looks better when you widen the lens and look at the landscape over the past 10 years. Recently, Fidelity analyzed the account balances for more than 44.5 million IRA, 401(k) and 403(b) retirement accounts.
Following is a rundown of how much workers had saved for retirement as the first quarter of 2023 came to a close.
Individual retirement accounts

Average balance as of the first quarter of 2023: $109,000
Past average balances:
- Previous quarter: $104,000
- One year ago: $127,000
- One decade ago: $80,700
The bear market that began last year — and that has overstayed its welcome ever since — has reduced account balances in individual retirement accounts compared with where they were a year ago.
But despite that dark cloud, things still look relatively sunny overall when compared with where things stood 10 years ago.
In addition, balances were higher in the first quarter compared with the last quarter of 2022.
401(k) plans

Average balance as of the first quarter of 2023: $108,200
Past average balances:
- Previous quarter: $103,900
- One year ago: $121,700
- One decade ago: $81,200
Workers who save for retirement in a 401(k) plan also saw their balances decline year over year. But things looked better after the first quarter than they did at the end of last year.
403(b) plans

Average balance as of the first quarter of 2023: $97,900
Past average balances:
- Previous quarter: $92,700
- One year ago: $107,600
- One decade ago: $62,900
A 403(b) plan is similar to a 401(k), but it typically is available to people who work in public schools or for charities. As you might expect, the changes in 403(b) plan balances over the past year are similar to those of 401(k) plans.
Increasing your retirement account balance

Building a large retirement nest egg does not involve magic. Instead, you must commit to the project, then slug it out day by day, and step by step.
Over time, the little seeds you plant can become towering money trees. But it only happens if you create a plan and stick to it.
For tips on getting started saving for your golden years, check out:
- “5 Simple Ways to Invest Your Retirement Savings“
- “Warren Buffett’s Sane and Simple Retirement Investing Plan“
If you want more detailed help, enroll in the Money Talks News course The Only Retirement Guide You'll Ever Need.
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