It’s the happiest retirement place on earth. The Walt Disney Company launched a new business called “Storyliving by Disney” to develop master-planned residential communities that will feature areas exclusively for residents 55 and up.
Managing Editor Brian Anderson reports that the first community will be in Rancho Mirage, near Palm Springs—a location where Walt Disney himself owned a home and would spend leisure time with his family. With Mickey Mouse now 93 he’ll probably reserve a unit for himself as well.
Fidelity is reporting record 401k balances, contributions, and 401k millionaires. Account balances average $130,700. 401k millionaires top 442,000 and nearly 40% of plan participants increased their 401k contributions in 2021. And it all happened during the “Great Resignation,” according to Fidelity’s year-end analysis.
Lastly, the nonpartisan Congressional Research Service is out with a look at just how far DC plans have come in recent decades. In the 1970s, private-sector defined benefit plans had 27.2 million active participants, and defined contribution plans had 11.2 million.
Fast forward to 2019, the most recent year for data, and private-sector DB plans had 12.6 million active participants, and private sector DC plans had 85.5 million active participants.
It’s all happening this week.
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With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots.
