Americans' 401(k) Balances Hit Record $155,800 in Q2 as Millennials Gain 14.3%
Updated
Updated · Newsweek · Sep 15
Americans' 401(k) Balances Hit Record $155,800 in Q2 as Millennials Gain 14.3%
3 articles · Updated · Newsweek · Sep 15
Summary
$155,800 was the average Fidelity 401(k) balance in Q2 2026, up 10.5% from the prior quarter in the biggest quarterly gain since late 2020.
Fidelity attributed the jump to strong investment performance and steady saving, with workers and employers contributing a combined 14.4% of pay and 81.2% of participants capturing the full employer match.
Baby boomers held the largest average balance at $283,200 and contributed 12.2% of pay, while millennials' average balance climbed 14.3% to $94,300, about 26% above a year earlier.
Rising costs still cloud the picture: consumer prices were up 3.4% in August, and advisers cautioned that record balances do not necessarily mean households are better prepared for retirement.
Fidelity's data covers 25.8 million participants in 27,300 plans, while Federal Reserve survey data shows only 35% of nonretired adults said their retirement savings were on track in 2025.