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Savings & Retirement

The Ranks of 401(k) Millionaires Are Shrinking

New Fidelity data show a steep drop in seven-figure account balances.

Bloomberg business news
You'll Need 7 Figures in Savings To Retire With Ease

The 401(k) millionaire club has shrunk by a third.

Fidelity Investments had just 299,000 seven-figure workplace retirement accounts at the end of 2022, down from 442,000 a year prior, according to data from the asset manager.