Fidelity Says 401(k) Millionaires Rose to 769,000 as Average Balances Jumped 10.5% in Q2
Updated
Updated · Detroit Free Press · Sep 2
Fidelity Says 401(k) Millionaires Rose to 769,000 as Average Balances Jumped 10.5% in Q2
3 articles · Updated · Detroit Free Press · Sep 2
Summary
769,000 Fidelity 401(k) participants held at least $1 million by June 30, up more than 19% from 645,000 in the first quarter and marking a record high.
Average 401(k) balances climbed 10.5% in the second quarter to a record $155,800, the strongest quarterly gain since late 2020, helped by market gains, steady contributions and employer matches.
Millennials posted some of the biggest gains, with average balances up 14.2% from the prior quarter and 26.1% from a year earlier.
Saving behavior stayed resilient despite cost-of-living worries: total average savings rates held at a record 14.4%, 80% of plans offered employer contributions, and only 5.5% of savers changed allocations.
Fidelity’s data from 27,300 plans covering 25.8 million participants suggests workers largely stayed invested through early-2026 market swings rather than trying to time the market.