Retirement Savings on Steroids: What's Behind the Surge? The latest quarterly analysis from Fidelity Investments reveals that 769,000 workers have surpassed $1 million in their 401(k) accounts.
Average balances grew at a staggering 10. 5% in the second quarter, their strongest quarterly growth since Q4 of 2020. This surge is not solely the result of individual thriftiness or financial acumen.
One key factor contributing to this growth is the continued stock market gains, which have undoubtedly played a significant role in boosting average balances. According to Fidelity's data, 12.