Americans boosted their 401(k) savings in 2023, BofA report reveals
There were fewer hardship withdrawals taken last year, too.
Americans were prioritizing retirement savings in 2023 despite the challenging economic environment.
The average balance in 401(k) accounts last year increased 15% year-over-year, to $86,280, as participants contributed more and saw the value of their investments increase.
In the fourth quarte
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