{"id":659137,"date":"2026-10-28T01:46:13","date_gmt":"2026-10-28T01:46:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/659137\/"},"modified":"2026-10-28T01:46:13","modified_gmt":"2026-10-28T01:46:13","slug":"how-many-us-families-have-1-million-in-retirement-accounts","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/659137\/","title":{"rendered":"How Many US Families Have $1 Million in Retirement Accounts?"},"content":{"rendered":"

\"About<\/a> About 7% of U.S. families now hold $1 million or more in retirement accounts, up from 5% in 2022, new Fed data shows. Here’s who’s gaining.
Credit: bbbrrn \/ Getty Images Key Takeaways <\/p>\n

About 7% of U.S. families, 9.4 million in all, held at least $1 million in retirement accounts in 2025, up from 5% in 2022. <\/p>\n

Among families with retirement accounts, the median balance for those 75 and older rose, while the median for those under 35 barely moved. <\/p>\n

Just over half of families have anything in a retirement account. <\/p>\n

Having a million dollars or more in your retirement accounts still puts you in a small club, but membership is growing fast. <\/p>\n

That’s among the findings of an Investopedia analysis of the Federal Reserve’s Survey of Consumer Finances, released earlier this month<\/a>. About 7% of U.S. families, 9.4 million in all, held at least $1 million in retirement accounts in 2025, up from 5% three years earlier. All figures are in 2025 dollars. <\/p>\n

Among families headed by someone 65 or older, the share climbs to 11%. The typical balance for savers under 35 has barely moved since 2022, while the median balance for families 75 and older has grown. <\/p>\n

The Million-Dollar Minority <\/p>\n

Just over half of families (55%) have a retirement account<\/a>, little changed since 2022. Among those account holders, about 13% have crossed $1 million, up from 9% three years earlier. <\/p>\n

The typical family isn’t even close. The median balance is $106,000, up 11% from 2022. The mean, pulled up by the biggest accounts, is $451,000, up 23%. <\/p>\n

\"\"<\/a> <\/p>\n

But count everything a family owns, including home equity, and the share of millionaires triples: about 22% of families had a net worth of $1 million or more in 2025, up from about 20% in 2022. <\/p>\n

Fidelity’s own 401(k) data points in the same direction. The number of ‘millionaire’ accounts on its platform reached a record 769,000 at the end of June, up 19% from March and about 30% from a year earlier, amid the stock market’s rally. That’s about 3% of its 26 million plan participants. <\/p>\n

Advisors are spotting the same thing at ground level. Autumn Knutson, a certified financial planner and founder of Styled Wealth, said market returns<\/a>, not larger deposits or paying off debt, have been doing most of the work. <\/p>\n

“I’ve seen a lot of clients who already had meaningful investments see their net worth notably increase over the last three years due to market return,” she said. <\/p>\n

The Oldest Savers Are Pulling Ahead <\/p>\n

Families 75 and older with retirement accounts had a median<\/a> balance of $257,000 in 2025, up 79% from $143,400 in 2022. That matches the median for 65- to 74-year-olds, whose balances rose by a more modest 17%. <\/p>\n

The Fed noticed, too. Its summary report says families 75 and older now have the highest median net worth of any age group, about $505,000, up 37% from 2022. The Fed attributes the rise mostly to gains in their retirement accounts. <\/p>\n

\"\"<\/a> <\/p>\n

The number of 75-and-older families with accounts also grew, from 6.6 million to 8.1 million. Families now 75 and older are the first cohort that could have held a 401(k) through most of their working years. <\/p>\n

Still, the youngest savers went nowhere. The median balance for account holders under 35 rose from $20,700 to $21,000, about $300 in three years. <\/p>\n

For those savers, getting within reach comes down to starting habits, when possible, said David Tenerelli, a certified financial planner at Values Added Financial. <\/p>\n

“Pay yourself first and automate,” he said. “Commit a portion of each paycheck to your future self by contributing it to your company’s retirement plan, or an IRA or Roth IRA, and set those contributions on autopilot.” <\/p>\n

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