"Surge in 401(k) Millionaires: What's Behind the Trend?"

TL;DR Summary
Fidelity Investments reported a 20% increase in the number of people with seven figures in their 401(k) accounts, sparking a discussion on the importance of long-term saving and financial education. Readers shared stories of early influencers, emphasized the role of employer education, and offered advice to younger workers. The consensus was to start saving early, maximize contributions, and avoid withdrawing funds from 401(k) accounts. The discussion highlighted the need for basic financial education in schools and the impact of income, education, and employer-provided retirement plans on retirement savings.
Topics:business#401k#finance#financial-education#long-term-investing#personal-finance#retirement-savings
- Readers had a lot to say about those newly minted 401(k) millionaires Yahoo Finance
- 401(k) millionaire ranks grew 11.5% in 2023. They are 'poster children for staying the course,’ expert says CNBC
- More Americans are now part of the retirement millionaires' club, report says Fox Business
- Advice | More workers entered 401(k) millionaires club as stock market surged The Washington Post
- 3 Secrets of 401(k) Millionaires The Motley Fool
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