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Fund Spy

How to Reach the $1 Million 401(k) Milestone

Patience and good funds go a long way in getting you there.

This article was originally published in the September 2018 issue of Morningstar FundInvestor. Download a complimentary copy of FundInvestor by visiting the website.

Crossing the $1 million threshold in your 401(k) is a satisfying landmark, even if it is just a round number of no actual importance. I crossed the line last year, and I wasn't alone. The strong rally in equities in 2017 led to a 45% increase in investors above the $1 million balance line in Fidelity 401(k) accounts. That total of 157,000 at the end of the first quarter of 2018 shows that many can do it.