Record 769,000 Americans Hold $1 Million in 401(k)
As of late June, 769,000 people had more than $1 million in their workplace retirement accounts. The average 401(k) balance was $155,800, while the median was far lower at $35,800. Fidelity shared these figures, which show how wide the gap between savers can be.
Context
Context: A 401(k) is a US employer-sponsored retirement savings plan. The average and median differ because a few very large balances pull the average up, so the median is often a better guide to a typical saver.
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