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401(k) and IRA millionaires jump in the second quarter, thanks to the stock market’s climb and steady worker contributions

The News Trenders

17 Aug, 2023

The number of retirement millionaires jumped in the second quarter as improving market conditions and steady contribution rates helped shore up balances, Fidelity Investments said.

Fidelity saw a 10% increase in millionaires holding 401(k) accounts to 378,0000 in the second quarter, compared with 340,000 in the first quarter. Among individual retirement accounts (IRAs), Fidelity reported a 13% increase in millionaires – 349,104 in the second quarter compared with 307,623 in the first quarter.

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