Having $1 million in a 401(k), IRA, or other retirement account is still relatively uncommon in the U.S. According to an analysis of Federal Reserve data, about 5% of U.S. households that have retirement accounts have $1 million or more saved in those accounts.

The Federal Reserve's 2022 Survey of Consumer Finances found that 54.3% of U.S. families had retirement accounts.

There is also a more recent snapshot from Fidelity. In Q2 2026, Fidelity reported a record 769,000 401(k) accounts with balances of at least $1 million.

That represented about 3% of the 25.8 million 401(k) accounts Fidelity manages. It's important to remember that 769,000 is not the total number of Americans with $1 million in retirement savings.

A person can have multiple retirement accounts, and Fidelity does not manage every U.S. retirement account.

The Bottom Line A reasonable way to look at the numbers is: About 5% of households with retirement accounts have $1 million or more, based on Federal Reserve data. 769,000 Fidelity 401(k) accounts had at least $1 million in Q2 2026.

The actual number of Americans with $1 million+ across 401(k)s, IRAs, Roth IRAs and other retirement accounts is higher than Fidelity's 401(k) figure. Most Americans have substantially less saved for retirement.

Interestingly, the Federal Reserve's latest 2025 household survey found that 61% of U.S. adults had a tax-preferred retirement account, such as a 401(k), IRA or Roth IRA.

So, if someone asks “How many Americans have $1 million in retirement accounts?”, the safest answer is that it's a relatively small minority—roughly around 5% of households with retirement accounts—while Fidelity alone has 769,000 million-dollar 401(k) accounts.