Retirement Balances Soar with Record-High 401(k) Contributions
Boston, Massachusetts – Retirement balances have soared to their highest levels in over two years, driven by record-high contribution levels, as reported by Fidelity Investments on May 23, 2024. A record number of individuals have seen their 401(k) accounts reach the milestone of $1 million, with Fidelity counting 485,000 such accounts as of the first quarter of this year. This figure reflects a 15% increase from the previous quarter and a substantial 43% rise from …