Number Of U.S. Millionaires Up 45% In Past Year
(Undated) — More Americans are becoming millionaires. Fidelity Investments reports the number of Americans with at least a milliondollars in their 401(k) retirement accounts is up 45 percent over the past year. According to Fidelity, most of the new millionaires have been saving for about 30 years. They’ve benefited from the stock market’s run-up over the past five years. They’ve also contributed enough to the 401(k) accounts to get a full match from their employers, they don’t cash out when they switch jobs, and they don’t take out loans against their accounts.
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