There are nearly 500,000 401(k) millionaires in the U.S., according to Fidelity. Yet the average 401(k) balance remains far lower at $127,100. If you hope to join the former group, you'll need the right investment strategy. Here are five things that could help you join the 401(k) millionaires club by retirement. Image source: Getty Images. 1. Contribute early and often Set up regular paycheck deferrals to your 401(k) as soon as you're eligible and can afford to do so. Traditional advice says to save 10% to 15% of your income for retirement each year, but it's fine if you start with less.
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