Fidelity Reports 769,000 401(k) Millionaires in Q2 as Total Jumps 19%
Updated
Updated · The Washington Post · Sep 16
Fidelity Reports 769,000 401(k) Millionaires in Q2 as Total Jumps 19%
1 articles · Updated · The Washington Post · Sep 16
Summary
769,000 Fidelity-managed 401(k) accounts held at least $1 million in the second quarter, the highest level the firm has recorded.
That total rose from 646,000 in the first quarter, a 19% quarterly increase, and was up 30% from a year earlier.
Fidelity said the figures cover only the retirement plans it manages, but they offer a snapshot of how U.S. workers are accumulating retirement wealth.
The report underscores that reaching seven figures in a 401(k) typically depends more on time, disciplined saving and patience than on cutting small daily expenses.
With hardship withdrawals rising alongside record millionaire balances, is the traditional retirement system quietly leaving the average worker behind?
How could looming market volatility and AI stock corrections suddenly threaten the retirement dreams of newly minted 401(k) millionaires?
If skipping coffee doesn't build wealth, what hidden financial habits actually separate the new wave of 401(k) millionaires from the rest?