What's it take to be a 401k billionaire and how to make the most of your HSA?

You're listening to the Saturday personal finance edition of Mottesful Money.

I'm Robert Brokamp, but this week we talked to T. Roe Price's Roger Young about how to best use

your health savings account. But first, let's kick things off with last week at money. And despite a rocky

start, it's been a good year for investors, which means most people have more saved for retirement.

In fact, savings are at record levels. That's the takeaway

from Fidelity's recently released retirement analysis, which is based on the more than 50 million

retirement accounts of Fidelity as of the end of June. And here are some of the takeaways.

The average 401k balance increased 8% from a year ago to almost $138,000, the highest figure ever.

The average IRA balance rose 5% year over year to a bit more than $131,000.

And the average 401k contribution rate was 9.5% from the employee, 4.8% from the employer match

for a total savings rate of 14.2%, an all-time high and close to the 15% Fidelity and others recommend nowadays.

And the number of 401K accounts with a balance of $1 million or more jumped to $595,000, also a new record.

So what's it take to be a 401k millionaire?

A long career, decades of saving, and a high savings rate. According to Fidelity to be a 401k millionaire? Well, long career, decades of saving and a high savings rate.

According to Fidelity, the average 401k millionaire is around 59 years old,

has been contributing to their account for 25 years, and has a contribution rate of 25.9%.

And that includes the employer match. That rate is 10 percentage points higher than the average for all workers in the 50 to 59 age group.

Moving on to our next item, you know, we love to talk about the stock market here at the Bolly Fool,

but there's another even bigger market, and that is the bond market.

Not only is the bond market important for our portfolios,

it also influences the rates

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