401(k) millionaires are on the rise after taking a hit last year. Boomers are leading the way (fortune.com)

submitted 1 year ago by deconstruct@lemmy.world to c/personalfinance@lemmy.ml

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[-] deconstruct@lemmy.world 5 points 1 year ago

It's not just boomers.

Young savers have done especially well. Gen Z saw a 66% increase in average 401(k) balances compared to a year ago, while millennials saw a 24.5% increase. Average Gen X balances were up 14.5%, and baby boomers saw an average increase of 6.3% compared to a year ago.

Source from Fidelity (PDF)

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this post was submitted on 17 Aug 2023

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