http://money.cnn.com/2013/02/14/retirement/401k-balances/index.html?hpt=hp_t2 Across the industry, 401(k) balances benefited from strong returns and increased contributions, said Jack VanDerhei, research director at the nonprofit Employee Benefit Research Institute. This is very good news, people saving their money, money being left into investments for the long run. That is a sign of confidence. Let's keep our fingers crossed this continues.
IRA/401k pays better than Social Security... Tax Foundation on Retirement: $19K From SS vs $57K From IRA/401(k) June 22, 2016 | A new study by the Tax Foundation shows that if a person earning the average wage over time retires in 2016, they could receive $19,646 in annual Social Security benefits. However, if that person also started at age 22 to save 10% of their annual income in an IRA or 401(k) plan, while earning the average wage over time, they could receive an annual payout (annuity) of $57,318 from those savings. They would receive $37,672 more per year in retirement benefits than they would get from Social Security.