Fidelity recently announced that the number of Fidelity "401(k) millionaires" (customers with $1 million or more in their 401(k) accounts) just reached an all-time high. As of Q1 2024, 485,000 ...
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Retirement account balances are at a record high right now, with many workers on track toward millionaire status. According to first-quarter retirement data from Fidelity Investments, the average ...
How do you pay for something when you don’t know what it’s going to cost or how long you’ll need it? That’s the current U.S. retirement system, and many experts feel it’s broken.
Retirement investors face a challenging conundrum when choosing the best 401(k) funds: how to discern the value for the fees you pay. High fees can only be rationalized if a fund has consistently ...
Despite challenging financial and economic conditions lately — namely inflation and soaring rates which have left little for savings — some Americans have been successful in beefing up their 401(k)s ...
Employers who offer a 401(k) plan for their employees often enjoy two benefits. The first is tax advantages, as employers can deduct contributions on the firm’s federal income tax return to a ...
You may be able to convert your traditional 401(k) into a Roth 401(k) if your employer offers both types of plans. It boils down to when you want to pay taxes on your retirement savings: while you ...
The latest data on Americans' 401(k) savings rate is in -- and workers should pat themselves on the back. Fidelity Investments says the average 401(k) savings rate reached a record high of 14.2% ...