More millennials are breaking their way into the 401(k) millionaire club than ever. How you can steal their strategy

Millennials are making strides toward reaching the 401(k) millionaire milestone, according to recent reports. In 2025, there were 645,000 401(k) millionaires, marking a 26% increase from the previous year, attributed to steadier worker contributions and market gains. While any millennials have achieved millionaire status in their 30s and 40s is impressive, experts recommend saving 15% of pre-tax income annually, which millennial savers are nearing.

Consistency in saving and starting early are crucial, as even modest contributions can grow significantly over time due to compound returns. Contributing to a 401(k) match, increasing savings with raises, and considering alternative investment options like S&P 500 index funds can also boost savings. However, building wealth is a long-term process, and patience is key.