Posted by (The Life Tank 02/24/2023 News) The number of 401K millionaires in the United States has dropped by one-third.
According to data from Fidelity Investments, by the end of 2022, the number of employees' 401K accounts with more than $1 million in accounts will only be 299,000.According to statistics, the average retirement account loses 20% of its assets.
Compared with the previous year's 442,000 million accounts, it has dropped by nearly 32%.
If you happen to retire in 2023, it may be a worse year.
Market manias of yesteryear made millionaires
Fidelity Fidelity Investments is the nation's largest corporate employer 401kRetirement accountOne of the service providers, managing more than 3000 million retirement accounts.
according toThe Life Tank©️As reported in September 2019, Fidelity Investments counted the company's 9K retirement accounts, and the number of millionaires with more than $401 million hit a record high that year.
Since the 401K account funds are usually invested in the securities market, inNew Coronavirus OutbreakIn the market frenzy environment that started the second year, a large number of new 2K millionaires appeared in a short period of time.
However, a market crash starting in mid-2022 put an end to the carnival.
How to protect the profitable capital of previous years and avoid asset loss has become a problem faced by 401K account owners.
(>>>Related reading:The million-dollar pension account has reached a record high. How much money should I save for my age is reasonable?)
How to Invest a Million: A Fall That's Far From Over
Smart-beta ETF pioneer Rob Arnott said in an interview yesterday,The decline in the stock market is "far from over."
For families with more than $401 million in assets in 1K or IRA accounts, how to manage the assets, avoid more losses, and protect future assets has become the most important thing this year.
The securities market, which has become more and more volatile, should not be the first choice for financial management of families preparing to retire.
get onAsset Protection FunctionThe life insurance company's products, as well as the promise of a guaranteed annualized rate of return that has been recorded for more than a decade in 2023, provide a robust solution for mature and rational 401K account investors. (full text)
(>>>Related reading:The number of millionaires in retirement accounts has dropped by 29%, and "never lose money" is the goal for 2022)
(>>>Related reading:"Never lose money", what does the FLOOR core function of asset-based life insurance mean?）
(>>>Recommended reading:Is it difficult to make $100 million?Master these 20 good habits and you will eventually become a millionaire)
