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401(k) millionaires are on the rise after taking a hit last year. Boomers are leading the way (fortune.com)

submitted 1 year ago by [email protected] to c/[email protected]

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[–] [email protected] 10 points 1 year ago* (last edited 1 year ago)

This is kind of silly. Basically it's just saying that stocks have rallied this year. US stocks are up ~14% YTD, and international stocks are up ~5% YTD.

So the more you had invested, the more "dollars" you made this year.

Last year was net down, so it makes complete sense that people with more money lost more "dollars" last year.