The Truth About 401(k)s: Why They Usually Won't Make You a Millionaire 💰

Explain to me why a 401k wont make most people a millionaire.

Well, just look at the data. According to Fidelity’s stats on their 401k accounts, only about 1.6% or 378,000 people were 401(k) millionaires last year - in 2023.

Here’s why most won’t make it: First thing: how many of you max out your 401k to the limit each year? Second: how many of you put in enough to get the company match? And third, how many of you rebalance or actively manage your portfolio each year? IF you aren’t doing these things, chances are, you aren’t going to become a 401k millionaire.

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