The pool of 401(k) millionaires, an all-time high, totaled 654,000 in September, up from 595,000 at the end of June, according to Fidelity Investments.
These gains reflect the robust record-high performance of the US market, with the S&P 500 (^GSPC) up 8.1%, the Nasdaq Composite (^IXIC) up 11.2%, and the small-cap Russell 2000 (^RUT) up 12.4% in the same period.
The biggest group of leapers to this lofty level — millennials, those between the ages of 29 and 44.
The new entrants are a significant increase when compared to the first quarter, when only 512,000 savers had at least $1 million in