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Stellar stock-market returns have boosted Americans’ retirement account balances.
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The number of 401(k) millionaires is up and average account balances are the highest in two years.
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Sources caution anyone thinking about retirement not to get complacent and plan ahead if they want to tap their gains.
The soaring stock market is minting a lot of 401(k) millionaires.
Thanks to a stunning market rally since the beginning of 2023, the number of people with at least $1 million in their retirement account jumped 20% year-over-year in fourth quarter of 2023, with that average account balance rising to the highest level in two years, according to Fidelity.
While it may be tempting for bullish workers to start pulling money out to fund their post-employment lifestyles, or even start taking that money out ahead of retirement, investing experts warn against such considerations…
