196,000 Millionaires Agree That This Is the Place to Keep Your 401(k)

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At Fidelity, 196,000 401(k) accounts are worth at least $1 million. It turns out, I’m not the only one who likes working with Fidelity. In the past, I have written to you about my positive experience with Fidelity’s services. You can read more about Fidelity here:

Life Comes at You Fast. Slow It Down with My Friday Email. It’s Free.

Now, Fox Business reports that the number of millionaires at Fidelity is rising. Ken Martin writes:

The number of people with 401(k) and IRA balances that topped a million dollars hit a record in the second quarter.

The number of investors with at least $1 million in their 401(k) accounts at Fidelity reached 196,000, according to USA Today.

That is up from the 180,000 in the previous quarter.

IRA millionaires increased to 179,700 from 168,100.

Investors recouped the money that they lost toward the end of 2018.

The average account balances also increase for 401(k) and IRAs by 2 percent and 3 percent respectively.

That’s great news for investors. If you haven’t already, take some time to explore Fidelity’s services and technology to see if they’ll work for you.

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E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West (RIP JB) and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com To sign up for my free monthly Survive & Thrive letter, click here.