{
  "id": 5398020,
  "title": "Your 401(k) may be at a record high. Think twice before making this money move",
  "url": "https://urgent.news/2026/09/03/your-401-k-may-be-at-a-record-high-think-twice-before-making-this",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-03T19:15:00.000Z",
  "source": {
    "name": "Fast Company",
    "slug": "fast-company",
    "url": "https://www.fastcompany.com/91601634/your-401k-may-be-at-a-record-high-think-twice-before-making-this-money-move"
  },
  "original_language": "en",
  "account": "As inflation takes a toll, workers are saving more than ever before, with the average retirement account balance surging to a record high, according to a recent Fidelity report. The average IRA stands at $144,523, while the average 401(k) reaches $155,800 – both figures up by 10% from the first quarter of the year. This upward trend aligns with the stock market's winning streak, which has experienced its strongest quarter of growth since 2020. Fidelity's data, gathered during the second quarter, revealed that 401(k)s notched their largest balance gains in six years. The average 401(k) savings rate remained steady at 14.4% for the second quarter.\n\nHowever, despite the growing savings, many individuals still face challenges. A comprehensive Vanguard report revealed that 6% of account holders made a hardship withdrawal in 2025, up from 5% the previous year. This figure has tripled over the past six years. While tapping into retirement accounts can provide short-term relief, early withdrawals come with significant drawbacks, including hefty fees and the loss of potential compound interest. The median early hardship withdrawal amounted to only $1,900, barely enough to cover an emergency budget gap. Overall, while record account balances and strong savings behaviors paint a positive picture, the reality for many remains difficult, with early withdrawals often proving to be a personal finance misstep.",
  "summary": "Even as they feel the squeeze from inflation, workers are saving more than ever. The average retirement account balance just hit a record high, according to a new report from Fidelity. The average IRA now sits at $144,523 and the average 401(k) holds $155,800 – both totals up 10% from the first quarter of the year. The peak in retirement savings tracks with a winning streak for the stock market,…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}