how many americans actually retire as millionaires

Only about 3.2% of American retirees have $1 million or more in their retirement accounts. This percentage is slightly higher than the general population, where about 2.5% have reached this milestone. When looking beyond just retirement accounts to include all assets like real estate and other savings, around 18% of U.S. households can be considered millionaires. However, retirement accounts alone paint a modest picture, with the average retiree aged 65-74 having around $609,000 saved, and the median being about $200,000. The number of "401(k) millionaires" reached a record of around 497,000 as of 2024. Thus, retiring as a millionaire strictly through retirement accounts is relatively rare, achieved by only about 3 out of every 100 retirees. Including all assets, a larger proportion, roughly one in five households, are millionaires at retirement. Factors such as income, education, and homeownership heavily influence the likelihood of retiring as a millionaire.