💰 Stat of the Day: A record 50% of private-sector workers are saving in 401(k)s, according to the US Labor Department. Lil Dicky would be proud ($ave Dat Money!).

That figure is up from 43% a decade ago. And, as policy makers work to broaden access and automatic enrollment in employer plans (now mandated by federal law) increases, 401(k) usage is only expected to rise further.

401(k)s, a brief history: Congress opened the door to 401(k)s with a provision in The Revenue Act of 1978. Before that, retirement plans were ruled by the almighty pension – once a staple of mid-20th-century employment.

Big picture: Even though retirement plan adoption has picked up, ~40% of the working population isn’t saving enough to maintain their lifestyle throughout retirement, according to Boston College’s Center for Retirement Research.

🤔 Did You Know? Famed French general Napoleon Bonaparte was a fan of Breguet watches – a timepiece brand that still exists today.

📰 Worth a Read: ‘Be Cruel’: Inside Russia’s Torture System for Ukrainian POWs → (Wall Street Journal)