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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.
It's no coincidence that retirement plan managers like the aforementioned Fidelity and Vanguard predominantly offer their own mutual funds as investment choices within a 401 (k) plan.
The data doesn't reflect the entire 401 (k) universe but is based on 401 (k) plans managed by Fidelity, which is the largest 401 (k) platform in the country.
Fidelity Investments, formerly known as Fidelity Management & Research ( FMR ), is an American multinational financial services corporation based in Boston, Massachusetts. Established in 1946, the company is one of the largest asset managers in the world, with $4.9 trillion in assets under management, and, as of December 2023, $12.6 trillion in assets under administration. [4] Fidelity ...
The S&P 500 is a stock market index maintained by S&P Dow Jones Indices. It comprises 503 common stocks which are issued by 500 large-cap companies traded on American stock exchanges (including the 30 companies that compose the Dow Jones Industrial Average). The index includes about 80 percent of the American equity market by capitalization.
YouTube is an American video-sharing website headquartered in San Bruno, California. The site indicates view counts of each uploaded video, making it possible to keep track of the most viewed, many of which continue to exist while others are no longer available on the site. Although the most-viewed were initially viral videos uploaded by amateur content creators, such as " Evolution of Dance ...
Fidelity is one of the largest providers of workplace retirement plans, and its 401 (k) data is based on more than 23 million plan participants. The record number of million-dollar-plus accounts ...
The average 401(k) balance for Gen Z increased 15% to $11,300, compared to an 11% increase to $59,800 for millennials, Fidelity said.