The stock market surge has boosted 401(k) account balances to record levels, according to Fidelity Investments. As of September 30, there are now 544,000 millionaire accounts at the company, a 9.5% increase from the previous quarter. This marks a fresh record for the number of millionaire Fidelity clients. Additionally, average retirement savings balances have risen, with $132,300 in 401(k) and $119,300 in 403(b) accounts, both up 4% from the prior quarter and 23% from last year.
Source: https://www.bloomberg.com/news/articles/2024-12-05/there-are-more-401-k-millionaires-than-ever-before-fidelity-says