401(k) millionaires reaches record high: Fidelity

A record number of 401(k) accounts contained $1 million or more during the second quarter of 2024, according to a new analysis from Fidelity Investments.

There were around 497,000 so-called 401(k) “millionaires” last quarter, a 2.5 percent increase from 485,000 during the first quarter, according to Fidelity's analysis of 24 million 401(k) accounts across 26,000 employer-sponsored plans.

The number of IRA participants carrying balances of $1 million or more also hit a record high last quarter...