My 401K Performance is Negative August 24, 2006
I’ve been contributing the maximum allowed for my retirement for the past 5 years, so my balance has gone up quite a bit. But recently, my personal rate of return for the period ending June 30, 2006 was: -4.12%. According to this CNNMoney article today, those who saved for their retirement from 1999 to 2005 have done well. Here are the average account balance in 2005 for the following age groups:
- 20s who have had accounts since 1999 was $24,169
- 30s, it increased to $50,930
- 40s it rose to $91,848
- 50s had an average account balance of $127,766
- 60s was $140,957.
Are you on track with your retirement fund? I hope I get out of the negative territory for the next quarter!