401(k) Retirement Savings

Fidelity Investments analysis shows rise in number of 401(k) accounts with balances over $1 million, average balance of $1.616 million. Gen Xers saving for at least 15 years have an average balance of under $600,000. Auto-portability feature introduced to help those with small balances preserve retirement savings.

Market Volatility and Brokerage Outages

Major brokerages like Charles Schwab and Fidelity Investments experienced outages on Monday, leaving users frustrated amidst market volatility. The issues coincided with a sell-off in stocks and cryptocurrencies fueled by fears of a potential U.S. recession.