What retirement crisis? Number of 401(k) and IRA millionaires hits record high
Indeed, the number of 401(k) and IRA millionaires hit a record high at the end of the second quarter, Fidelity found. The number of people with $1 million or more in their 401(k) increased to a record 196,000, up from 180,000 at the end of Q1, while the number of IRA millionaires increased to 179,700, also a record high and an increase from 168,100 last quarter,” the report revealed. What's more, employee savings rates hit a record high, with 32% of savers increasing their contributions in the second quarter of this year.