Fewer 401(k) millionaires after coronavirus stock market meltdown

There had been in excess of 11 million homes in America value in between $1 million and $5 million in February, in accordance to Spectrem Group’s Current market Insights Report 2020. That figure — the variety of 401(k) millionaires, as they have been named — was heralded in several newspapers just a couple of months in the past.

Now, according to Spectrem, there are fifty percent a million fewer in this group because of the new stock market place meltdown.

Homes with a web worthy of of between $100,000 to $1 million dropped by 200,000 to 31.6 million since the finish of 2019, the report said.