Record number of Americans hit 401(K) millionaire status... here's how to do it

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Record number of Americans hit 401(K) millionaire status... here's how to do it

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A record number of Americans are now 401(K) millionaires, according to analysis from retirement plan provider Fidelity. The company analyzed over 24 million accounts in the US in the period between July and September last year. It found some 544,000 people have reached the impressive $1 million threshold with their retirement savings. This is up a huge 9.5 percent from the previous quarter. The number of IRA-created millionaires also increased by nearly 5 percent to 418,111, according to the research.
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