What does it take to become a millionaire?
Well, one thing is certain: You don't have to make a million dollars to have saved a million. (Tweet This)
The number of workers who have $1 million or more saved in 401(k) or other workplace retirement plans provided by Fidelity Investments nearly doubled from 2012 to 2014, according to the firm. In a separate study, Fidelity analyzed over 5,500 plan participants who made less than $150,000 a year, yet had amassed over $1 million in 401(k) assets by the end of 2012.
The success of these retirement savers wasn't purely based on the stock market's gains. Financial advisors say to become a 401(k) millionaire, you need to become a serious saver by doing three things: