The number of 401(k) millionaires has reached a new peak, with Fidelity reporting a record 485,000 accounts holding $1 million or more in the first quarter. Retirement account millionaires surged by 15% from the previous quarter and 43% since March 2023. Expectations to work past age 62 have decreased from 54.6% in March 2020 to 45.8% now, according to the NY Fed. The average age of financial advisers in the U.S. is 56. The stock market's importance is highlighted by the rise in 401(k) millionaires.
The average 401(k) savings rate recently hit a record high. Here’s how it compares to the recommended retirement savings rate. https://t.co/62GWBRRIFX
“The average 401k balance is up ONLY 39% in the past 10 years.” Fidelity $400k would equal $560k less the inflation effect of <100,000> for a net gain of $60,000 or 3.75% Convert your 401K to real estate earn 6-8% a year plus a double or triple at sale with No Penalty. If…
Currently, 62% of US adults have money invested in the stock market, which is the highest percentage since 2007. This is a slightly higher share than in 2023 and a 7 percentage point increase since 2020. Across income brackets, 87% of households with annual income above… https://t.co/llTN9WamRf
A 2023 survey by the Employee Benefit Research Institute found that workers intend to retire at 70 or older, but the actual data shows that the median retirement age is 62, with an average age of 65. https://t.co/gvczHTPd1M
The universe of 401(k) accounts with balances of $1 million or more at Fidelity Investments rose to a record 485,000 in the first quarter, according to Fidelity. · With stocks surging, the number of retirement account millionaires jumped 15% from the prior quarter and 43% since…
The universe of 401(k) accounts with balances of $1 million or more at Fidelity Investments rose to a record 485,000 in the first quarter. The number of retirement account millionaires jumped 15% from the prior quarter and 43% since March 2023.
Just a reminder the average age of a financial adviser in the U.S. is 56. https://t.co/5yF7ePXjsU
Why is the stock market important? $DIA $SPY $QQQ The number of 401(k) millionaires has hit an all-time high, per Fidelity In March 2020, expectations to work past age 62 were at 54.6%... Today, it's at 45.8% https://t.co/upNRXYROxL
In March 2020, expectations to work past 62 years of age were at 54.6%. Now they are at 45.8%, per the NY Fed.
The number of 401(k) millionaires has hit an all time high, per Fidelity.