They trust the market
Fidelity reports that the vast majority of gains in the past year — 66 percent — were the result of market gains. Just 34 percent of the increase was due to employee and employer contributions.
When the stock market is stagnant or falling — as it was for much of the first half of 2018 — it’s easy to get discouraged. But America has been through the Great Depression, the Great Recession and countless financial crises in between. From time to time, the ship that is the U.S. economy takes on water and begins to list a bit. But it always rights itself and moves full steam ahead.
Those who become 401(k) millionaires trust the process, believing that market gains will return. And to date, the market has always richly rewarded their faith.
