
How does your nest egg look today?
Chances are good that it has weathered a few cracks in recent years. The stock market began sinking in January 2022 and didn’t stop for most of last year.
2023 has been a year of recovery, however. Balances are starting to look a little better, if not yet fully healed.
In fact, retirement account balances rose nationwide for the third straight quarter, according to Fidelity investments. Recently, Fidelity analyzed the account balances for more than 45 million IRA, 401(k) and 403(b) retirement accounts.
Following is a rundown of how much workers had saved for retirement as the second quarter of 2023 came to a close.
Individual retirement accounts

Average balance as of the second quarter of 2023: $113,800
Past average balances:
- Previous quarter: $109,000
- One year ago: $110,800
- One decade ago: $80,600
The bear market that began last year is no more, and we are now in the early stages of a bull market. Account balances in individual retirement accounts (IRAs) are up a touch compared with where they were a year ago.
Balances also are substantially higher than they were 10 years ago.
401(k) plans

Average balance as of the second quarter of 2023: $112,400
Past average balances:
- Previous quarter: $108,200
- One year ago: $103,800
- One decade ago: $80,800
Workers who save for retirement in a 401(k) plan saw their balances rise a bit year over year. Things also look better than they did at the end of the first quarter of this year.
403(b) plans

Average balance as of the second quarter of 2023: $102,400
Past average balances:
- Previous quarter: $97,900
- One year ago: $93,300
- One decade ago: $63,200
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 effort, 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:
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