Author Topic: 401(k) millionaires at Fidelity jump 41 percent in third quarter to record 187,400  (Read 382 times)

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Offline Frank Cannon

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https://www.usatoday.com/story/money/2018/11/05/401-k-millionaires-hit-record-third-quarter-fidelity-says/1889630002/

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The number of 401(k) millionaires hit a record in the third quarter as investors who own stocks in retirement accounts got a boost from the U.S. equity market touching a fresh high.

The tally of people with 401(k) accounts at Fidelity Investments with balances over $1 million climbed to 187,400 at the end of the September quarter, up 41 percent from the third quarter of 2017 and topping the previous record of 168,000 401(k) millionaires in this year's second quarter. Fidelity, one of the nation's largest administrators of workplace retirement plans, says it has 15 million 401(k) accounts.

In the same quarter ten years ago during the 2008 financial crisis, there were only 19,300 retirement savers with 401(k) account balances topping $1 million, the mutual fund company said.

Offline Frank Cannon

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@Applewood looks like there are a few people scraping by in this economy.


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