401(k) Stats Suggest Americans Still Confident

This hasn't been a banner year for 401(k) balances, but people evidently aren't panicking about it, according to new data from Fidelity:

• The dip: The investment firm's latest report says the average 401(k) balance slipped 3% in the first quarter of 2025, landing at $127,100, reports Quartz. That tracks with the market's mood: The S&P 500 dropped 4.3% during the same stretch, thanks to economic jitters and tariff drama.

• Confidence: But even with the dip, people aren't shying away from contributing. The opposite, in fact. The average contribution rate (including what bosses contribute) hit a record high 14.3%, per CNBC, just a hair below Fidelity's suggested rate of 15%. Nearly one in five savers increased their contribution rate, which Fidelity says is a sign that people aren't losing faith in the long game.
• Millionaires: The ranks of 401(k) millionaires dipped slightly, dropping 4.6% to about 512,000, per the Detroit Free Press. That's also down from the record figure of 544,000 in last year's third quarter. Still, Fidelity says those who've stuck with it for five years or more are still seeing major gains.

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