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Sharon Brovelli - 2 Fidelity - 2 Mike Shamrell - 1 Shamrell - 1 ” - 1 Gen Xers - 1
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Fidelity Investments - 2 Fidelity - 2 Nasdaq - 1 Dow Jones - 1 New - 1 New York CNN - 1 Labor Statistics - 1

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2 mentions found


☆ 401(k) millionaire ranks grew 11.5% in 2023. They are 'poster children for staying the course,’ expert says
  + stars: | 2024-02-27 | by ( Jessica Dickler | ) www.cnbc.com   time to read: +2 min
In this article FIS Follow your favorite stocks CREATE FREE ACCOUNTwatch nowIn a year that defied most economists' expectations, retirement savers reaped the benefits. The average 401(k) balance ended 2023 up 14% from a year earlier to $118,600, Fidelity found. "This past year ended on a high note for retirement savers," said Sharon Brovelli, president of workplace investing at Fidelity Investments. Overall, more than one third of retirement savers increased their retirement savings contributions, Fidelity found. The average 401(k) contribution rate, including employer and employee contributions, now stands at 13.9%, just below Fidelity's suggested savings rate of 15%.
Persons: Sharon Brovelli, Mike Shamrell, Shamrell, Fidelity Organizations: Fidelity Investments, Fidelity, Nasdaq, Dow Jones
☆ Number of 401(k) ‘millionaires’ jumped 41% last year, says Fidelity
  + stars: | 2024-02-27 | by ( Jeanne Sahadi | ) edition.cnn.com   time to read: +2 min
New York CNN —Many more new 401(k) “millionaires” were created last year, but the overall number remains low, according to data released Tuesday. The average 401(k) balance rose to $118,600 at the end of the fourth quarter, up 14% for the year. And 78% of 401(k) savers were contributing at a rate high enough to get their employer’s full matching contribution. Between employee and employer contributions, the average savings rate last year was 13.9%, up slightly from 13.7% a year earlier. “This past year ended on a high note for retirement savers,” said Sharon Brovelli, president of Workplace Investing at Fidelity Investments.
Persons: ”, Gen Xers, Fidelity, Sharon Brovelli Organizations: New, New York CNN, Fidelity Investments, Fidelity, Labor Statistics Locations: New York, United States
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