Fact-checking Trump's claims about 401(k) gains during his second term
Summary
President Donald Trump said that the typical 401(k) retirement account increased by almost $30,000 in 13 months during his second term. However, data from Fidelity Investments shows the average increase was about $9,454, much less than Trump’s claim.Key Facts
- President Trump stated a typical 401(k) balance grew by nearly $30,000 in 13 months.
- The S&P 500 stock index rose about 24% between January 2025 and June 2026.
- Fidelity Investments analyzed 401(k) accounts for 25 million people across 26,000 plans.
- The average 401(k) increase across age groups was around $9,454, about one-third of Trump’s figure.
- The highest average increase by age group was about $16,000 for people aged 55 to 59.
- Many 401(k) balances are affected by contributions as well as stock market gains.
- Median gains (middle value) may be lower than the average because large accounts raise the average.
- Only 10% to 20% of Americans have 401(k) balances as large as $200,000, which would be needed for a $30,000 gain.
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