Reply to Is anyone NOT a 401k millionaire?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]https://www.morningstar.com/news/marketwatch/20241205305/millennials-are-finally-joining-the-401k-millionaires-club-heres-how-they-got-here

Srsly. DH and I are still in our late 20s and each of us has $1M+ in our 401ks. Is being a millionaire the new lower class? [/quote]

Didn’t read the whole thread, so maybe this was addressed?  Someone in their 20s can surely be a millionaire, but how can one be a 401k millionaire at that age?  You can’t invest enough to reach millionaire status at that age unless you really hit on a couple of stocks.[/quote]

Why is every naysayer on here just following the established norms within a 401k and picking low cost index or target date funds and then just blindly contributing over time? Of course you won’t have $1M accumulated in &lt; 10 years with that strategy. That set and forget philosophy is now the losing strategy. AI and accessible retail trading platforms have changed everything. Most millennial and Gen Z investors are actively buying and selling within their 401k, IRA, and other investments accounts. This is the new key to making big money. Capitalizing on extreme volatility. [/quote]

401ks also aren't where you should be doing this type of investing so thanks for giving horrible advice. [/quote]

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