There's Now a Record Number of 401(k) Millionaires — But Can You Guess the Average Balance? Hint: It's Nowhere Near $1 Million

Millionaires are multiplying inside America's 401(k)s, and headlines are throwing a party. But buried beneath the celebration is a less glamorous stat: the average balance is still barely over six figures. Fidelity's latest report, released in September, shows a record-breaking 654,000 accounts now hold over $1 million, a nearly 10% jump from the previous quarter. It's the highest number ever recorded. Yet despite the surge, the average 401(k) balance sits at just $144,400—a record in its own right, but ...