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Key Points. A Reddit poster with $273,000 saved recently asked when they’d become a millionaire. Even without any additional savings, the poster could reach a 7-figure nest egg in 15 years ...
Recently, a Reddit poster with $2 million in 401(k) and IRA accounts asked when they should stop contributing to their retirement plans. The poster is 50 with a 45-year-old spouse, and they said ...
Image source: Getty Images. 1. Maximize your contributions. Each year, you have an opportunity to sock away money into your 401(k), and the contribution limits are generous. For 2024, employees ...
During the third quarter of 2024, Fidelity reports the number of 401(k) millionaires increased by 9.5% from the previous quarter. All told, there were 544,000 people in that category during the ...
Million-dollar 401(k) accounts are pretty rare, for the record. There's usually just not enough time -- nor income -- to reach that mark. It's not entirely unheard of, however, for a 401(k ...
And because traditional 401(k) plans are tax-deferred retirement accounts, contributing to them lowers my annual taxable income as well. For 2025, most individuals can contribute (pre-tax) up to ...
Most employers offering 401(k) plans offer a match, so double-check to ensure you get the most easy money possible. A father and daughter put coins into a piggy bank. Image source: Getty Images.
Obtaining 401(k) millionaire status requires steady action over the years, but it's more doable than you might think. At the end of 2023, over 400,000 accounts had at least $1 million at Fidelity ...
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related to: 401k millionaire redditseekingalpha.com has been visited by 100K+ users in the past month