Number of 401(k) ‘millionaires’ just jumped by 9.5% ...Middle East

By Jeanne Sahadi, CNN (CNN) — A new analysis by Fidelity Investments, one of the largest providers of 401(k) retirement plans, found that the number of accounts with balances topping $1 million rose by 9.5% in the third quarter. All told, of the roughly 24 million participant accounts in the 401(k) plans for which Fidelity serves as record keeper, 544,000 of them had balances over $1 million, up from 497,000 in the second quarter. The average balance in that group was $1.616 million, up from $1.595 million in the prior quarter. Among Gen Xers — who are next in line for retirement — those who have been saving for at least 15 years had an average balance of just under $600,000, up 6%

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