10. What is a 401(k)?
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Google searchers were curious about their retirement options in 2020, with “What is a 401(k)?” coming in as the 10th most-searched financial planning question of the year. In 2020, 401(k) accounts saw an increase in contributions, with the average IRA balance reaching $128,100, 11% higher than the average balance of $115,400 in 2019, according to a study from Fidelity.
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