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Fewer 401(k) millionaires after coronavirus stock market meltdown

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Read The Latest Coronavirus News Updates Globally Here: "Coronavirus Live News Updates" | Or Visit Our Full Global Statistics Page for Detailed Informations On Coronavirus Here

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managed wordpress hostingFewer 401(k) millionaires after coronavirus stock market meltdown 1
There were over 11 million households in America worth between $1 million and $5 million in February, according to Spectrem Group’s Market Insights Report 2020. That figure — the number of 401(k) millionaires, as they were called — was heralded in many newspapers just a few weeks ago.

Now, according to Spectrem, there are half a million fewer in this group because of the recent stock market meltdown.

Fewer 401(k) millionaires after coronavirus stock market meltdown 2Fewer 401(k) millionaires after coronavirus stock market meltdown 3

Households with a net worth of between $100,000 to $1 million dropped by 200,000 to 31.6 million since the end of 2019, the report said.

Fewer 401(k) millionaires after coronavirus stock market meltdown 4Fewer 401(k) millionaires after coronavirus stock market meltdown 5
Fewer 401(k) millionaires after coronavirus stock market meltdown 7Fewer 401(k) millionaires after coronavirus stock market meltdown 8
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