Reported about 9 hours ago
The number of retirement savers with over a million dollars in their 401(k)s surged by 27% in 2024, reaching 537,000, thanks to a strong economy and consistent contributions, as reported by Fidelity Investments. The average 401(k) balance hit $131,700, while IRA balances also grew. Generational trends indicate that Millennials are increasingly opting for Roth 401(k)s, emphasizing the importance of long-term saving habits.
Source: YAHOO