Overview

• Fidelity data shows 497,000 401(k) millionaires, a 2.5% increase from the previous quarter.
• IRA millionaires also reached a record high of 398,594, up nearly 6%.
• Average 401(k) balance rose to $127,100; IRA balances increased to $129,200.
• Despite market gains, many Americans worry about outliving their retirement savings.
• Economic pressures like inflation and high household debt continue to impact savings rates.