A Record Number Of 401(k) Accounts Are Now Worth $1 Million Or More

The number of 401(k) accounts valued at $1 million or more has reached a record high, with approximately 497,000 accounts surpassing this milestone. This surge is largely attributed to the strong performance of US stocks, particularly the Nasdaq and S&P 500 indices. As the stock market has risen, so have the balances of these retirement accounts.

For investors, this trend highlights the importance of maintaining a well-thought-out investment strategy. While the stock market outlook appears positive, especially with expectations for a “soft landing” for the economy, it’s crucial to regularly review and adjust your portfolio to avoid making impulsive decisions, particularly as retirement approaches.

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