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ROBUST RETURNS AND STEADY SAVING YIELD RECORD NUMBER OF 401(K) MILLIONAIRES

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✍️ A record number of retirement savers have reached a cool $1 million or more in their 401(k)s or IRAs, with 595,000 savers reaching this milestone, according to Fidelity Investments.

👉 595,000 retirement savers have reached $1 million or more in their 401(k)s or IRAs 👉 The number of 401(k) millionaires has increased by 16% from the end of March 👉 The average 401(k) millionaire is 59 years old and has been in their employer's plan for 25 years 👉 The average individual savings rate for 401(k) millionaires is 17.6% 👉 Regular contributions and a long-term focus on retirement goals have contributed to this success

-- #MikeShamrell #RitaAssaf #KerryHannon #finance

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Mike Shamrell Rita Assaf Kerry Hannon finance mainstream:perspective

9/11/2025

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401(K) MILLIONAIRES REACH AN ALL-TIME HIGH. HERE’S THE NO. 1 THING MOST GEN XERS AND BOOMERS DID TO GET THERE.

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✍️ Fidelity Investments reports that 401(k) retirement account balances reached record highs in the second quarter, with 595,000 individuals reaching millionaire status.

👉 401(k) retirement account balances reached record highs in the second quarter 👉 595,000 individuals reached millionaire status 👉 Average 401(k) balance increased by 8% from the previous year 👉 Median 401(k) balance was $32,300 👉 Only 5.5% of retirement savers made a change to their 401(k) asset allocation in the second quarter

-- #MikeShamrell #SharonBrovelli #RobertMascialino #ElonMusk #business

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Mike Shamrell Sharon Brovelli Robert Mascialino Elon Musk business mainstream:perspective

9/5/2025

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HERE'S WHY AN ALARMING NUMBER OF WORKERS CASH OUT 401(K) PLANS

https://media.zenfs.com/en/usa_today_money_325/7c04bae3725219601e211255862b51f2

✍️ A significant number of Americans cash out their 401(k) accounts when leaving a job, resulting in lost retirement savings. This phenomenon, known as 401(k) leakage, is attributed to financial need, lack of emergency savings, and complexity in rolling over retirement accounts.

👉 One-third of Americans cash out their 401(k) accounts when leaving a job 👉 Financial need is the primary reason for cashing out retirement accounts 👉 Lack of emergency savings also contributes to 401(k) leakage 👉 Complexity in rolling over retirement accounts is another factor 👉 The auto-portability program aims to make it easier for workers to transfer their retirement funds

-- #RobWilliams #AaronGoodman #AnqiChen #MikeShamrell #DavidJohn #finance

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Rob Williams Aaron Goodman Anqi Chen Mike Shamrell David John finance mainstream:perspective

8/17/2025

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401(K) INVESTORS RUSHED TO SAFE HAVENS IN THE SECOND QUARTER

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✍️ Retirement investors shifted funds from stocks to fixed income in the second quarter, with trading levels reaching a five-year high.

👉 Trading levels in 401(k) accounts hit a five-year high 👉 Investors shifted funds from stocks to fixed income 👉 42% of inflows went to bonds 👉 Investors swapped equities for fixed income on 40 out of 61 trading days

-- #RobAustin #MikeShamrell #KerryHannon #business

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Rob Austin Mike Shamrell Kerry Hannon business mainstream:perspective

7/11/2025

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401(K) SAVERS STAYED ON COURSE THROUGH MARKET VOLATILITY, FIDELITY FOUND

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✍️ Retirement savers consistently added to their savings in the first quarter of the year, with the average 401(k) savings rate increasing to a record 14.3%, according to Fidelity Investments' quarterly analysis.

👉 Average 401(k) savings rate increased to a record 14.3% 👉 Average employee contribution rate was 9.5% 👉 Average employer contribution rate was 4.8% 👉 17.4% of people with 401(k) accounts increased their savings rate, while 5% decreased 👉 Only 6% changed their 401(k) asset allocation

-- #MikeShamrell #KerryHannon #business

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Mike Shamrell Kerry Hannon business mainstream:perspective

6/6/2025

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AVERAGE 401(K) BALANCES DROP 3% DUE TO MARKET VOLATILITY, FIDELITY SAYS

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✍️ The average 401(k) balance fell 3% in the first quarter of 2025 to $127,100, according to a new report by Fidelity Investments, while the average IRA balance sank 4% from the previous quarter.

👉 Average 401(k) balance fell 3% in the first quarter of 2025 to $127,100 👉 Average IRA balance sank 4% from the previous quarter 👉 Both 401(k) and IRA balances were up year over year 👉 Experts emphasize the importance of having a long-term strategy 👉 Intervening in the market is almost always a bad idea

-- #SharonBrovelli #MikeShamrell #GilBaumgarten #PresidentDonaldTrump #business

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Sharon Brovelli Mike Shamrell Gil Baumgarten President Donald Trump business mainstream:perspective

6/4/2025

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NUMBER OF 401(K) PLAN AND IRA MILLIONAIRES HITS RECORD, WITH MORE MILLENNIALS JOINING THE RANKS

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✍️ The average 401(k) plan balance reached a record high of $132,300 in the third quarter of 2024, with the number of 401(k) millionaires increasing by 9.5% to 497,000.

👉 Average 401(k) plan balance reached a record high of $132,300 👉 Number of 401(k) millionaires increased by 9.5% to 497,000 👉 Average 401(k) contribution rate stands at 14.1% 👉 Experts attribute growth to market appreciation and robust contributions 👉 Some savers are tapping their accounts for loans

-- #SharonBrovelli #DouglasBoneparth #MikeShamrell #Biden #business

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Sharon Brovelli Douglas Boneparth Mike Shamrell Biden business mainstream:perspective

12/6/2024

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THIS ROTH STRATEGY LETS ELITE SAVERS STASH $70,000 IN THEIR 401(K) IN 2025

https://media.zenfs.com/en/marketwatch_hosted_869/b902dbcaf8cddf18125955fb57e27e36

✍️ The article discusses the 'mega-backdoor Roth' strategy, a rare feature in 401(k) plans that allows high earners to contribute up to $70,000 to their retirement accounts in 2025.

👉 Max out the allowable contributions in a company 401(k) plan 👉 Direct additional after-tax contributions to the plan 👉 Convert those contributions to Roth status 👉 Contribute up to $70,000 to the 401(k) plan in 2025 👉 The strategy is rare due to limited 401(k) plans that offer all necessary mechanisms 👉 Most Americans do not earn enough to contribute the maximum amount