The only workers whose 401(k) balances grew in 2022 were the Gen Z savers still decades away from retirement, according to new data from Fidelity Investments.
While the average nest egg among Fidelity’s accounts lost 23% in 2022, Gen Z workers born between 1997 and 2012 posted a gain of 14%, the investment company and retirement plan provider said. Every other age group lost money. This wasn’t investment savvy or beginner’s luck so much as the good fortune to not have that much invested yet as markets tanked, the data suggests.
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