Stop the Presses! Good News for IRA Savers
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Here's welcome news on the retirement savings front, courtesy of Fidelity Investments. Average balances on IRA saving accounts Fidelity administers reached over $81,000 at the end of 2012, a 53 percent increase from the end of 2008. Fidelity is the top provider of IRAs to U.S. investors, according to a Cerulli Associates survey.
The news was even better for older folks. Those in the 60-to-69 age bracket saw their balances rise 70 percent, to $127,800 from $75,000. It was up 81 percent for those ages 50 to 59, to $75,700 from $41,900.