Retirement Millionaires Surge to Record as the Trump Bull Stock Market Runs North
Warren Buffett, “Stocks are ‘ridiculously cheap’ if interest rates stay at current levels”
The number of people with $1-M or more in their 401(k) or individual retirement account on the Fidelity Investments platform reached record levels last Quarter, fueled by higher savings rates along with market appreciation, the fund company said in a report Thursday.
Some 233,000 savers held 7-figure 401(k)s as of 31 December, up about 17% from the prior Quarter.
Among IRA holders, 208,000 people made the club, a 14% increase. Investor savings rates have been trending higher in part because employers are automatically increasing their contributions.
Among people who have been in their 401(k) plan for 10 yrs straight, the average balance reached a record $328,200, Topping the prior high of $306,500 from last Quarter, Fidelity said.
The Trump driven Bull market is Making and Keeping America Great!