-
Average 401(k) Balance Reaches New High
Tweet Share on Facebook November 9, 2012 CommentThe average 401(k) balance reached $75,900 at the end of the third quarter on September 30, 2012, up 18 percent from $64,300 a year ago. This is the highest average 401(k) balance Fidelity Investments has recorded since it began tracking this number more than 12 years ago.
-
Health Costs for Retirees Decline
Tweet Share on Facebook November 2, 2012 CommentA 65-year-old couple with median prescription drug expenses will need $227,000 to have a 75 percent chance of covering their Medicare premiums and other out-of pocket medical costs after retirement in 2012, according to a recent Employee Benefit Research Institute report. People who retire in 2012 are estimated to need $4,000 less the $231,000 new retirees required in 2011 largely because provisions of the Patient Protection and Affordable Care Act of 2010 reduced out-of-pocket prescription drug costs for retirees.
