"Surge in 401(K) Millionaires: Stock Market Rally Boosts Retirement Balances by 25%"

The number of 401(K) savers with seven-figure balances has increased by 25% this year, thanks to a stock market rally. More than 700,000 retirement accounts now hold $1 million or more, according to investment firm Fidelity. However, this figure is still below the peak in 2021. Experts caution that $1 million may not be a strong benchmark for a comfortable retirement, as rising living costs may require savers to have more. The average 401(K) account has just $112,400, highlighting concerns about a retirement crisis in America.