Record number of 401(k) millionaires in the U.S. average holdings hit record too

401k Trends - Record high of 595,000 401k millionaires in the second quarter [1] - Average 401k balance increased by 8% from the previous quarter, reaching $137,000 [1] - 95% of 401k investors made no changes to their portfolios [1] Investment Behavior - Potential issue of "stuck money" in 401ks, either in suboptimal investments or forgotten accounts [2] - Some individuals may hoard cash or sell investments into cash outside of 401k accounts [5] - Savings rate remained steady at close to 15%, including employer contributions [4] Market Reaction - Markets experienced a 20% fall due to tariff news [3] - Investors generally avoided panic selling during market downturns [4] Long-Term Strategy - Importance of considering long-term goals when making 401k investment decisions [5] - Ensuring investments align with long-term financial objectives [5]