3 Secrets of 401(k) Millionaires
We'd all like to be millionaires, and more people than you might think have already achieved that status. Fidelity Investments should know, as it boasts more than $11 trillion in assets under management and more than 43 million investors served -- many via 401(k) accounts. According to Fidelity, there were 378,000 millionaires with 401(k) accounts in the second quarter of 2023, up 10% from the year-earlier period. (Fidelity also reported nearly 350,000 millionaires with IRA accounts, up 13%.)
People attain millionaire status in various ways. Some inherit big bucks from wealthy relations. Some (but very few) hit it big in Las Vegas. Some start companies and sell them to bigger companies. But a much more common way to get wealthy is to do so via investing in the stock market over a long period -- perhaps in a 401(k) account.
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Source Fool.com
