401(k) Retirement Savings

Fidelity Investments analysis shows rise in number of 401(k) accounts with balances over $1 million, average balance of $1.616 million. Gen Xers saving for at least 15 years have an average balance of under $600,000. Auto-portability feature introduced to help those with small balances preserve retirement savings.

Record Number of $1 Million 401(k) and IRA Accounts in Q2 2024

A record number of 401(k) and IRA accounts contained $1 million or more in the second quarter of 2024, with significant increases from the previous quarter. Average retirement account balances have also seen growth over the last year.