Wealth is piling up in retirement portfolios at a pace nobody expected.

Look at the numbers: 401(k) millionaires hit 654,000 last quarter—that's a 10% jump from the previous three months. Not to be outdone, IRA accounts crossing the seven-figure mark surged even harder, climbing 12% to reach 559,000.

Both figures? Record territory.

What's driving this? Market performance, obviously. But also steady contributions and compound growth doing its thing over time. The trend since early this year has been relentless upward momentum.

For context, these aren't institutional whales or hedge fund managers. These are everyday retirement savers watching their balances break into territory most people only dream about.

The takeaway: traditional markets are rewarding patience right now. Whether that continues is anyone's guess, but the current trajectory is undeniable.