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The number of millionaires 401 (k) and IRAs also declined, according to Fidelity. Individuals with $ 1 million or more in their 401 (k) plans dropped to 133,800 by the end of the fourth quarter, while the number of people with $ 1 million or more in their IRAs dropped to 138,800.
Despite the fact that balances fell, there were some positive trends among savers.
First, Fidelity's investments show no dramatic change in their investments, despite volatile markets. Only 5.6% of account holders made significant changes to their badet allocation in the fourth quarter.
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Second, the share of investors who regularly contribute to their retirement savings accounts has reached more than 99% in the fourth quarter – the highest level since the first quarter of 2011. In 2018, the average total contribution of 401 (k) was $ 6,850 and the average IRA's total contribution was $ 4,200.
Third, the number of workers who borrowed under their 401 (k) plans fell to its lowest level in 10 years. According to Fidelity, the share of workers with loans outstanding from their 401 (k) plans has fallen to its lowest level since the second quarter of 2009.
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