What percentage of Americans retire with $1,000,000?

Only 3.2% of American retirees have $1 million or more saved in their dedicated retirement accounts.

While a million-dollar nest egg is a common financial milestone, data from the Federal Reserve’s Survey of Consumer Finances highlights how rare seven-figure accounts actually are:

• All Americans: Only 2.5% of all U.S. adults hold $1 million or more in dedicated retirement accounts like 401(k)s and IRAs.
• People with active accounts: If you only look at the 54.3% of Americans who actually own a retirement account, only 4.7% have reached the $1 million threshold.
• Total Assets (including home equity): If you expand the definition of a "millionaire" to include all household net worth—such as real estate, businesses, and non-retirement investments—about 14% to 18% of retirement-aged households cross the $1 million mark.

The Average vs. Median Reality

The reason the percentage is so low becomes clearer when looking at what the typical older household actually has saved:

Note: The massive gap between the average and the median is because a small percentage of wealthy savers with multimillion-dollar accounts heavily skew the average upward. The median represents the true midpoint, meaning half of Americans in those age brackets have less than that amount saved.