Average 401(k) balance up 39% across the decade

The average American 401(k) balance has increased 39% over the past 10 years, Fidelity Investments reported Wednesday.

According to Fidelity, people who have been saving consistently over consecutive years have benefitted from double-digit percentage boosts to their 401(k) accounts.

In the past year alone, Generation X reportedly increased their average balance by 14.5%, Millennials by 24.5% and Generation Z by 66%.

Meanwhile, Baby Boomers reportedly grew their 401(k) balance by 6.3% over the course of the past year.