Record number of Americans hit 401(K) millionaire status... here's how
www.dailymail.co.uk
A record number of Americans are now 401(K) millionaires, according to analysis from retirement plan provider Fidelity.
    • Universal MonkOPMEnglish
      23·
      1 个月前

      Oh, then liberals have no reason to get mad, since it’s “basically nobody.”

      • PanamaltEnglish
        1·
        1 个月前

        When the people that actually need and deserve money start getting something, then we can call it news

        • Universal MonkOPMEnglish
          31·
          1 个月前

          You don’t think 401K people need and deserve the money they worked hard for?

          • PanamaltEnglish
            1·
            1 个月前

            I think 500,000 of them isn’t particularly noteworthy. Also, 401k does not necessarily imply hard work, especially when the result is $ > 1m.

            • Universal MonkOPMEnglish
              11·
              1 个月前

              Seems like a lot people to me. And that seems like a nice 401K to me. And I am someone who is retired and I live off much less than that just fine.

              • PanamaltEnglish
                1·
                1 个月前

                500,000 / 70,000,000 (# of Americans with 401k according ChatGPT’s internet search) = ~0.007143

                500,000 / 170,000,000 (# of Americans eligible for a 401k, insert ChatGPT salt warning here) = ~0.002941

                Roughly 0.7% of Americans that have a 401k are millionaires according to this article. Out of all the Americans that could have a 401k, its only about 0.3%. Statistically speaking, effectively nobody is getting a million dollars just by having a 401k. If they are, it is almost certainly because they have a particularly high income or a job with highly competitive benefits, aka. they are already in a much higher socioeconomic class than pretty much every other working American will ever be allowed to achieve in this country.