The six-year-old bull market is boosting the ranks of newly-minted millionaires. Fidelity Investments reports that the number of workers with $1 million or more in a 401(k) retirement account has more than doubled over the past two years. Granted, those 72,379 accounts represent a small fraction of savers, but the growth has been big: Two years ago, Fidelity, one of the largest 401(k) plan providers, managing some 13 million accounts, reported only 34,920 one-million-dollar-plus balances.
Read more:
http://time.com/money/3700005/401k-m...id=yahoo_money
This shows that you really can become well off, just by putting aside money every year into a mutual fund.



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I don't sweat
the other 5% .......................
, CEO probably has a plan written just for him to assure he'd get the statutory max. Yet, it isn't too much of a stretch to picture a 50-something "H.I.C.E." contributing the 2014 max of $23K. Assuming he/she makes $150K, and has the company match of 6% of income, a company match of $9K would yield $32K total. While not equal to Warbucks $52K, you'll have to admit that the 401K annual total isn't nearly as lopsided as the ~ 13 fold difference in annual salary between CEO and line employee. I personally know many of the "H.I.C.E." crowd who are 401K millionaires, or nearly so.


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