How much money do Americans have in their 401(k)?

The latest Fidelity retirement study shows that the number of retirement millionaires jumped in the second quarter of 2023. There was a 10% increase in individuals holding 401(k) accounts, with over a million compared to the previous quarter. However, the average American has a significantly smaller 401(k) account balance. Who Are the Retirement Millionaires? Although the Fidelity…