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By Staff Reporters
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Retirement Accounts are Minting Millionaires
It’s good to have money stashed in the stock market when the market is doing well. The number of people with at least $1 million in their 401(k) and IRA accounts jumped 12% in the second quarter, according to a report from Fidelity Investments, largely tracking the market’s gain during that period. It’s the third straight quarter of growth in $1+ million accounts and close to a record high.
But start saving now, because building a hard-boiled nest egg through retirement accounts takes time: The average age of a 401(k) millionaire is 59, Fidelity said.
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Filed under: "Ask-an-Advisor", Accounting, Financial Planning, Funding Basics, Investing | Tagged: 401-k, Fidelty, IRA, millionaire, Millionaires | Leave a comment »
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