Sturdy Stock Market Mints a Record Number of 401(k) Millionaires
The average 401(k) balance rose 13.1% year over year to $155,800, but more workers also took loans and hardship withdrawals, Fidelity said.
- On Thursday, Fidelity Investments reported that retirement account balances hit record highs in the second quarter, with the average 401 balance rising 13.1% year-over-year to $155,800 as of June 30, 2026.
- Market gains and consistent employee contributions fueled these results, as 81.2% of 401 participants saved enough to capture employer matching, with contribution rates holding at a record 9.6%.
- Fidelity reported a record 769,000 accounts holding at least $1 million, a 19% jump from the first quarter, while average IRA balances gained 10% to a record $144,523.
- Despite record balances, persistent inflation and rising costs for necessities have driven financial strain, with hardship withdrawals climbing to 3% from 2.6% year over year and 19.5% of workers holding outstanding 401 loans.
- Accessing retirement funds early should be a last resort, cautioned certified financial planner Cathy Curtis, CEO of Curtis Financial Planning, who warned that early withdrawals jeopardize the power of compound interest.
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Your 401(k) may be at a record high. Think twice before making this money move
Even as they feel the squeeze from inflation, workers are saving more than ever. The average retirement account balance just hit a record high, according to a new report from Fidelity. The average IRA now sits at $144,523 and the average 401(k) holds $155,800—both totals up 10% from the first quarter of the year. The peak in retirement savings tracks with a winning streak for the stock market, which just experienced its strongest quarter of gro…
Average 401(k), IRA balances hit record highs — but more workers are raiding their accounts, Fidelity says
Retirement account balances rose in the second quarter amid market gains, according to Fidelity. At the same time, more savers tapped their accounts for cash.
There’s a new record number of 401(k) millionaires as retirement savings hold at all-time highs
Retirement savings hovered at record highs in the second quarter, pushing the number of 401(k) millionaires to a record as investors focused on their long-term goals despite persistent anxiety about the broader economy, Fidelity Investments said Thursday.
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