How to Become a 401(k) Millionaire

·4 min read
How to Become a 401(k) Millionaire

Fidelity Investments reported that the number of 401(k) millionaires—investors with 401(k) account balances of $1 million or more—reached 233,000 at the end of the fourth quarter of 2019, a 16% increase from the third quarter's count of 200,000 and up over 1000% from 2009's count of 21,000. Target-date funds are often offered as a default option by plan sponsors when employees don't make an investment choice on their own.