Retirement: Planning Financially for the Future

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The retirement planning group Fidelity Investments says the average 401(k) balance is now at a 10-year high.

An analysis based on 11 million retirement savings accounts showed the average balance rose to $71,500 at the end of 2010.

Fidelity said most employees did not suspend contributions during the recession. Contributions actually increased for seven consecutive quarters.

For participants continuously active in saving for the past 10 years, average balances rose to $183,100 at the end of last year from $59,100 at the end of 2000, Fidelity said.

Still, it's not all good news.

Baby boomers, or those between the ages of 46 and 54, are still finding themselves short of what is needed for a comfortable retirement.

CBN News spoke with financial planner Robin Tull about the latest news on retirement stability, and what it means for Americans young and old.. Click play to watch.

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