Last Year’s Stock Market Plunge Wiped Out a Third of 401(k) Millionaires
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After a dismal year for the stock market, the number of folks who can claim 401(k) millionaire status has shrunk considerably.
What the research says
The number of 401(k) millionaires has plummeted by 32%, according to data the asset management firm Fidelity Investments shared with Money.
- A "401(k) millionaire" is someone whose 401(k) retirement account is worth at least $1 million.