Fidelity Investments said 401(k) accounts with balances of at least $1 million rose 19% in the second quarter of 2026 to a record 769,000, or about 3% of the 25.8 million accounts it manages, as average balances also reached new highs. The average 401(k) balance climbed 13.1% from a year earlier to $155,800, the average IRA reached $144,523, and the average 403(b) stood at $145,000, supported by a 15% second-quarter gain in the S&P 500 and a record 9.6% employee contribution rate that held firm despite higher costs for fuel, food, and utilities. Michael Shamrell of Fidelity said many millionaire savers built wealth through decades of consistent contributions and that the firm avoids treating $1 million as a universal goal because retirement needs vary. Investors largely looked past inflation and geopolitical tension toward corporate earnings, including artificial intelligence demand and recent Republican tax legislation. Even so, an NFP survey found 72% of workers lagging on retirement savings and nearly seven in 10 doubtful they will retire comfortably, highlighting a gap between rising balances and retirement confidence.