The amount of Americans holding at least $1 million in their 401(k)s grew by 20% between September and December 2023, according to Fidelity Investments.
Yahoo Finance Columnist Kerry Hannon joins the Live show to discuss the savings strategies this group of individuals have in common, also discussing the results of the American College of Financial Services’ latest financial literacy survey.
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Financial literacy is a tricky thing because those who truly understand it are incentivized to hold that information close to the vest. Educate yourselves people!
We don’t hold it to the vest to screw other people over. We do it because no one asks us. I’ll gladly dispense the info if anyone asks.
I withdrew all my 401K and went all in on Bitcoin. Best decision of my life.
Amazing. My story isn’t as good. I bought about 50 bitcoin when it was hovering around 210 in 2015 for like a year. I then sold it at around 18K in 2017. Best decision of my life.
One on, really? How much did you withdraw? when? Still have all your bitcoin?
@@Tex9DownYup still have all the Bitcoins, I 4x’ed my entire 401K. Gonna keep holding Bitcoin tho I smell something really cooking in this asset class.
It’s no surprise about the financial literacy quiz result since we haven’t learned it from school
B.S, I have an MBA and yes they do teach financial literacy; you just have to sign up for it. You need school to learn financial literacy? How about learn it on your own. Did you need school to learn how to change the oil in your car, or a flat tire, or how to tie a tie?
Accept some responsibility.
Grfoh most can’t afford to save that kind of money !
If this isn’t a sign of the 401k TOP, idk what is. Better cash out now as MSM is clearly trying to make you feel “safe” from impending crash.
Next year, they will be all REKT!!!
I withdrew all my 401K and went all in on Bitcoin. Best decision of my life.