If you’re working a full-time 9-to-5 and contributing to a 401(k) plan, now might be a good time to check in and see what’s been happening with those automatic paycheck deductions.
According to a new report from Fidelity Investments, many Americans might be surprised to find that they’ve earned millionaire status.
Data from the retirement plan company released on Tuesday reveals that in Q4 of 2023, the number of 401(k) accounts with over $1 million increased 20% quarterly and 41% year-over-year, with an estimated 422,000 accounts falling in this range by the end of 2023.
Related: What is a 401(k) and How Does it Work?
The average account balance for those who
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