IRA and 401(k) millionaires are staging a comeback, with the number of seven-figure retirement accounts at Fidelity Investments inching back toward a 2021 high. The tally of such accounts rose by more than 12% in the second quarter to 727,104, according to an analysis released by Fidelity on Thursday. That’s the highest since the first three months of 2022 and within striking distance of a record. This year’s double-digit gains in the benchmark S&P 500 have helped swell retirement balances...

More than half of young workers in the US don’t expect to do as well financially as their parents, according to a new survey. Many young adults started their careers carrying student debt, and they’ve been hit hard by high housing costs and inflation. Many feel they’ll never be able to buy a home as high mortgage rates combine with scarce inventory of available listings to push affordability out of reach. Rather than saving for a down payment, 42% of adults between the ages of 24 and 35...

A new analysis puts a dollar figure on the cuts Americans could see to Social Security benefits in 2033, when analysts expect payroll taxes that flow into the program won’t be enough to cover monthly payments to retirees. Many Americans have heard about the potential for benefits to be cut a decade from now if no changes are made to the program. To put the impact in more real-world terms — and prod policymakers to act sooner — a new analysis by the Committee for a Responsible Federal Budget...

Share this article Investor anxiety is on the rise as geopolitical tensions mount, the threat of recession looms, and it's unknown how much longer seven mega-cap stocks can keep fueling the S&P 500’s double-digit gain this year. Amid the uncertainty, four investment experts asked by Bloomberg News where they’d invest $100,000 said they’re focused on where the longer-term value lies in the US and abroad. They pointed to opportunities in emerging markets and small-cap stocks, as well as plays...

Share this article Investors recently got another painful lesson in the dangers of trying to time the market. With cash flooding into money-market funds, the S&P 500 shot up more than 20% from its low in October. The investor skittishness is understandable. While a default of US government debt was avoided, the threat of a recession looms and the market rally has been fueled by a narrow slice of stocks. That has some market-watchers predicting a sharp fall — while others say all the cash on...