The secrets to saving $1 million in your 401(k)

If you’re striving to save for retirement take some cues from the 401(k) millionaires over at Fidelity Investments.

According to recent Fidelity data, 72,379 of its 13 million 401(k) accounts now have balances of over $1 million.

That’s more than twice as many as in 2012.

And while the average annual compensation for these individuals was $359,000, between 1,000 and 1,200 of them made under $150,000.

How’d they save $1 million or more?

These individuals average 60 years old and had been with the same company for somewhere around 30 years. So stability at work is key.

But it’s not just one thing that these individuals did. It’s a lot of different things.
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Should you invest like a girl? Women investors may have natural advantages

Women investors may have some natural advantages over their male counterpartsLike almost every other aspect of a person’s life, gender exerts a powerful influence over the way we invest and the ultimately, the returns we achieve.

Numerous studies,  including one performed at UC Davis, indicate that “boys will be boys” when it comes to overconfidence in their abilities. On the other hand, women are more likely to make investing decisions that benefit them in the long run, although many women could stand to take on a little more risk.
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Are your genes influencing your investing decisions?

Is your DNA influencing your finances?We hear a lot about money personalities, and how they influence our financial decisions. But why do you have the money personality that shows through in your life? What’s behind it? The answer might be in your genes.

When it comes to the decisions you make with regard to financial risk, research shows that your genetic makeup can be a big influence.

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