9.3% of U.S. Households Have $500K for Retirement Savings

As of August 2026, about 9.3% of U.S. households possess at least $500,000 in retirement accounts, based on a Congressional Research Service analysis. For individuals approaching retirement age, the median retirement account balance is approximately $566,900. Moreover, nearly 21.9% of Americans have over $1 million in their 401(k) plans. This data indicates that a significant portion of older Americans is better financially prepared for retirement than commonly perceived. This matters for ordinary investors as it highlights the potential for growth in retirement savings, encouraging preparation and planning sooner in life.