🎙️ The Apple Car Is Dead

[5 minutes to read] Plus: Private credit's boom

AuthorAuthor

Shawn O'Malley & Matthew Gutierrez
February 28, 2024

By Matthew Gutierrez and Shawn O’Malley

Sometimes, the good old-fashioned 401(k) saves the day. As any 401(k) millionaire will tell you, contributing just a fraction of each paycheck can work wonders over time.

💰 And there are a lot of 401(k) millionaires out there. The number of seven-figure 401(k) accounts at Fidelity jumped 20% last quarter to 422,000, near an all-time high. The average age of a 401(k) millionaire? 59 years old.

Rest assured if you’re not a 401(k) millionaire, though: Fidelity’s average retirement balance among all investors is $118,600.

— Matthew & Shawn

Here’s today’s rundown:

 💭 Bitcoin’s price was all over the place today, surging to nearly $64k before losing $100 billion of market value in fifteen minutes following a Coinbase outage.

Today, we'll discuss the biggest stories in markets:

  • Private credit’s takeover of Wall Street

  • Apple ends EV quest, focuses on AI and headset bets

This, and more, in just 5 minutes to read.

POP QUIZ

What is the average credit card debt among American cardholders with unpaid balances? (Scroll to the bottom to find out)

Chart of the Day

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