A record 769,000 Americans now have $1 million 401(k)s
The first half of 2026 has been very kind to those with retirement savings. Data shows that those with savings enjoyed gains across the board, marking the strongest quarterly growth since Dec. 2020.
A strong economy for those with retirement savings
Plenty of people are feeling the pinch in the economy right now, but that's not necessarily the case for those with retirement savings.
The average 401(k) account balance with Fidelity Investments increased by 10.5% in the second quarter of 2026. That wasn't all, though; as 403(b) accounts grew by almost 12%, and individual retirement account (IRA) balances grew by 10%.
Looking at the dollar amount, people with an IRA worth $131,400 saw it grow to $144,523 by the end of March.
A strong stock market and years of saving paid off
While a strong stock market certainly helped savings grow this year, that wasn't the only factor.
"Much of the strong retirement savings we saw this quarter didn't happen overnight," Mike Shamrell, vice president of workplace thought leadership at Fidelity Investments, told Yahoo Finance.
"They're often the result of years, and in many cases decades, of consistent saving and investing even during periods of economic uncertainty," said Shamrell.
These aren't casual savers seeing this kind of growth; it's the people who have been very strict about a savings plan and goal.
More millionaires were made
This kind of strong investment savings growth created more millionaires. There are 30% more accounts worth $1 million or more versus the second quarter of 2025.
In terms of demographics, Boomers made up 31% of the growth, Millennials 6% and Gen X 62%.
Investors are hoping for a strong second half of the year
With such huge gains in the first half of 2026, investors are now hoping for similar returns in the second half of the year.
Source: Yahoo!Finance
