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The number of retirement savers with $1 million or more in their 401(k) accounts jumped 20% from September to the end of December, according to Fidelity.
The number of people with $1 million or more saved in their 401(k) accounts leapt 10% from April to the end of June, according to Fidelity Investments.
Fidelity credits the growth to strong contribution rates as well as the rebounding stock market. The total contribution rate—which combines employee and employer contributions—for the second ...
Money market funds in the United States are regulated by the Securities and Exchange Commission (SEC) under the Investment Company Act of 1940. Rule 2a-7 of the act restricts the quality, maturity and diversity of investments by money market funds. Under this act, a money fund mainly buys the highest rated debt, which matures in under 13 months.
Gen Z workers who are saving for retirement saw their 401 (k)s grow faster than millennials' did last quarter, while Gen X topped baby boomers on another milestone, according to data from Fidelity.
Fidelity also reported that the number of 401 (k) accounts with balances of at least $1 million rose in the fourth quarter by 20%, to 422,000 accounts; and by 41% for the whole year. The average ...
The Fidelity Money Market Fund invests in short-term securities to produce a high level of current income while maintaining stability and a high level of liquidity.
The prime rate is determined mainly by the federal funds rate, which the Federal Reserve controls. The federal funds rate is the standardized interest rate banks charge each other for overnight loans.
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