By: Economic & Finance Report
It seems that Americans have been saving, and saving a lot in big ways. More Americans have saved more than a million dollars for their retirement. Fidelity Investments data analytics indicate more Americans have saved a cool $1 million dollars for their retirement; through their 401k; Traditional/Roth IRA and other pension saving accounts.
Fidelity’s analysis indicates that individuals who had accounts seven figures and up had increased 84%, and seven figure IRA accounts rose over 64%. Collectively accounts rose more than 75%. The rise of retirement funds and accounts seems to be coinciding with the soaring stock market that has excelled the past couple years. The stock market has been hitting consistent new highs. -SB
Source: Fidelity Investments
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