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Millennials account for more 401(k) millionaires as balances rise
Fidelity data cited in the story shows 645,000 Americans are 401(k) millionaires, up 26% year over year, while millennials average $82,600 in their accounts.
Yahoo Finance highlights a shift in retirement outcomes, saying more millennials are joining the 401(k) millionaire group than ever. The article attributes the trend to steadier worker contribution rates and years of market gains, pointing to a Fidelity Investments report.
The piece says the number of 401(k) millionaires reached 645,000, a 26% increase from the prior year. It also notes that Americans hit record savings rates in 2025, according to Fidelity’s latest retirement analysis.
The article adds that employer contribution rates reached a record $2,080 and that nearly one in five millennial 401(k) savers increased their savings rate last year. It further states that millennials now hold an average of $82,600 in their 401(k)s.
On longer funding streaks, the story says balances are especially higher for workers who have continuously funded their accounts for many years. It cites Fidelity data showing the average balance for millennials saving in a 401(k) for 15 years grew to $391,300.