The number of people who crossed the seven-figure mark hit an all-time high in the first quarter, though retirement savings surged across the board.
The millionaires average 26 years of investing, with a 17 percent contribution rate.Did our AI help? Share your thoughts.is the lure of big returns made quickly. If you believe hundreds of social media posts, becoming rich can be as easy and immediate as a microwaved meal.Washington Post illustration; Michelle Singletary; iStock
New data from Fidelity Investments shows the number of 401-created millionaires reached an all-time high in the first quarter of 2024.from the same three months last year, according to Fidelity, one of the nation’s largest administrators of workplace retirement accounts. The company provides a quarterly analysis of 45 million individual 401, 403 and IRA retirement accounts.
$127,745, an increase of 10 percent from the fourth quarter of 2023 and 17 percent higher than a year ago.
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