Reaching 1 million dollars in retirement savings is relatively uncommon. According to analysis of Federal Reserve data, only about 4.7 percent of Americans have at least 1 million dollars held specifically in retirement accounts such as 401(k)s and IRAs, and the share with 2 million or more drops to under 2 percent. So while a million-dollar nest egg is a widely cited goal, the large majority of households fall well short of it. At the same time, the number of so-called retirement millionaires has been climbing, helped by strong markets and consistent saving. Fidelity, which tracks tens of millions of accounts, reported a record number of 401(k) millionaires in 2025, reaching well over half a million individuals, with hundreds of thousands more reaching the mark in IRAs. The common thread among these savers is time and consistency, with many having contributed steadily for around 25 years or more. It is worth noting these figures count retirement accounts only, so total net worth including home equity and other assets can paint a somewhat different picture.