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

1 min read
Source: Yahoo Finance
"Surge in 401(k) Millionaires: What's Behind the Trend?"
Photo: Yahoo Finance
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.

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