Business Transformation | 09.03.26

America’s Population of 401(k) Millionaires Keeps Growing

by: Sarah Foster; Michelle Amponsah

The number of millionaire 401(k) accounts at Fidelity rose 19% to a record 769,000 in the second quarter, helped by strong stock-market gains and consistent retirement contributions. The S&P 500 gained about 15% during the quarter, lifting average 401(k), 403(b) and IRA balances to record levels. Despite this growth, many Americans remain concerned about retirement readiness because of inflation, debt, housing and healthcare costs and uncertainty surrounding Social Security. Northwestern Mutual’s 2026 survey found Americans estimate they need $1.46 million to retire comfortably. Financial advisors note that even $1 million may provide limited purchasing power, particularly in high-cost areas, and tax considerations can affect how much retirement savings ultimately provide.

Read the full article on Bloomberg