Reported about 1 month ago
A significant rise in millionaire retirement savers has been observed, with Fidelity reporting that the number of IRA account holders with balances exceeding $1 million increased to 398,594 by the end of June, while those in 401(k) plans reached 497,000. This growth is attributed to strong market performance and consistent contributions over time, highlighting the importance of regular savings. Additionally, many IRA millionaires are from Generation X, reflecting a shift in retirement savings dynamics.
Source: YAHOO