Money News: Why 401(k) Millionaires Are on the Rise in the US
Friday, 30 August 2024, 09:06
The Surge of 401(k) Millionaires
The number of 401(k) plan participants with balances of $1 million or more rose to a record high at the end of June, according to new findings published by Fidelity Investments.
Record Statistics
- Approximately 497,000 401(k) millionaires in Q2.
- 2.5% increase from the previous quarter.
- The average balance hit $1,595,200, up from $1,581,000 at the end of March.
This consistent growth showcases a trending shift in business wealth accumulation strategies through retirement savings.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.