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Stock impact report

Being a 401(k) millionaire matters more than ever in the AI era [Yahoo! Finance]

T. Rowe Price Group, Inc. (TROW) 
Last t. rowe price group, inc. earnings: 4/28 07:30 am Check Earnings Report
US:NASDAQ Investor Relations: trow.client.shareholder.com
Company Research Source: Yahoo! Finance
Christmas arrived early this year — at least for investors. Last week, a splashy Wall Street Journal article on “ moderate millionaires ” laid out some striking numbers: As of the third quarter, the brokerage Fidelity reports 654,000 401(k) millionaires. The benefits provider Alight now counts about 100,000 accounts worth more than $1 million (double the 2022 total). And while T. Rowe Price doesn't provide exact counts, roughly 2.6% of plan participants “had balances above $1 million” — again double the 2022 total. Meanwhile, WSJ reports on UBS estimates that “the number of such millionaires around the world has quadrupled since 2000 to 52 million this year. There were around a thousand of these moderate millionaires added every single day in the U.S. last year.” The WSJ article jumped out to me, in fact, because a friend recently shared this exact milestone, texting to crow good-naturedly about her 401(k) balance breaking into seven figures for the first time. She's a 40-s Show less Read more
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