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Here's How You Can Get There. Financial services firm Fidelity revealed in a recent study that nearly 80,000 of its retirement account investors achieved millionaire status during the second ...
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.
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 growth is so strong, in fact, that the share of 401 (k) millionaires has grown by 25% so far this year, according to Fidelity Investments’ Q2 2023 retirement analysis.
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 number of 401 (k) millionaires is going up. According to new fourth-quarter data from Fidelity Investments, one of the largest providers of retirement plans that cover 23 million 401 (k ...
In the fourth quarter, 334,000 401(k) accounts at Fidelity had balances of $1 million or more, growing 27% from the third quarter when the previous record was reached.
Many investors may have benefitted from this bull-run in the stock market if their 401 (k) assets are allocated to mutual funds or exchange-traded funds.
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