Number of 401(k) millionaires drops by a third in 2022
The outlook isn’t much better for 2023 as investors continue to deal with persistent inflation and economic uncertainty.
The 401(k) millionaire club has shrunk by a third.
Fidelity Investments had just 299,000 seven-figure workplace retirement accounts at the end of 2022, down from 442,000 a year prior, according to data from the asset manager.
The decline in million-dollar-plus savings came as the average 401(k
Learn more about reprints and licensing for this article.
