Your 401(k) may be at a record high. Think twice before making this money move

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, which just experienced its strongest quarter of growth since 2020. Fidelity’s data, colle...