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  1. Retirement
  2. 401(k)

Last Year’s Stock Market Plunge Wiped Out a Third of 401(k) Millionaires

By: Adam Hardy
Adam Hardy, expert in Personal finance, student loans, credit, job market, low-income finances, and Lead data journalist at Money
Adam Hardy
Lead data journalist | Joined May 2024
Adam Hardy is a lead data journalist at Money, where he frequently reports on financial barriers that affect low-income Americans. Adam’s work has also appeared in Business Insider, Forbes, Nasdaq, The Penny Hoarder, Yahoo! Finance and many other outlets.
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Editor: Brad Tuttle
Brad Tuttle, expert in Personal finance, shopping, consumer trends, and Senior Editor at Money
Brad Tuttle
Senior Editor | Joined January 2014
Brad Tuttle is a senior editor at Money with over 10 years’ experience covering a vast number of personal finance topics, including careers, cars, travel, budgeting, investing, insurance, credit cards, consumer psychology, real estate, banking, and shopping and deals.
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Published: Feb 27, 2023 3 min read

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Business Man Holding Large Cracked Egg Labeled 401k With Cash Flying Out Of It
Money; Getty Images

After a dismal year for the stock market, the number of folks who can claim 401(k) millionaire status has shrunk considerably.

What the research says

The number of 401(k) millionaires has plummeted by 32%, according to data the asset management firm Fidelity Investments shared with Money.