Stocks fell sharply on Thursday as U.S.-China trade worries persisted with more companies suspending business with Chinese telecom giant Huawei.Marketsread more
A Ministry of Commerce spokesperson does not single out any U.S. action, but it's been a tense couple of weeks for the trade war.World Politicsread more
The e-mail's optimistic tone helped Tesla shares turn positive for the first time in seven days.Technologyread more
In a four-page letter sent Thursday morning, Warren and Ocasio-Cortez asked Mnuchin a series of questions about his advisory role in former Sears CEO Eddie Lampert's...Politicsread more
"For them to say that they don't work with the Chinese government is false," Secretary of State Mike Pompeo tells CNBC.Politicsread more
Facebook has stopped paying commission to staff for selling political advertisements on its platform, The Wall Street Journal reported.Technologyread more
The yield on the 10-year Treasury note fell to its lowest level since 2017 as more traders grew confident in a longer U.S.-China conflict.Bondsread more
Prosecutors allege Stephen Calk, former president of Chicago-based Federal Savings Bank, loaned former Trump campaign chair Paul Manafort as much as $16 million in exchange...Politicsread more
At McDonald's annual shareholder meeting Thursday, executives said that the company is still monitoring plant-based meat substitutes.Restaurantsread more
Oil prices tumble as the market braces for a prolonged U.S.-China trade war and on signs the U.S. is willing to negotiate with Iran.Energy Commoditiesread more
U.S. manufacturer growth hit new lows in May, the latest sign that the economic slowdown accelerated amid the ongoing trade war.Economyread more
It is certainly not an easy feat. Only a tiny fraction of American workers have been able to amass $1 million or more in their 401(k)s and employer-sponsored retirement plans, according to the Employee Benefits Research Institute.
The average 401(k) account balance is just shy of $59,000. Yet whether you have saved $50,000 or $5 million, some secrets of the rich can be very instructive when it comes to building your own retirement fund.
(Read more: Questions to help protect your retirement savings)
Fidelity, the nation's largest retirement plan provider, surveyed wealthy investors whose assets totaled more than $5 million on average, including at least $2 million from employer-sponsored retirement plans. Here are some common trends:
There is often another simple strategy at work too: Don't spend more than you can afford.
(Read more: What you should be asking your financial advisor)
"Most millionaires accumulate their wealth because they didn't spend it," said certified financial planner Barry Glassman, founder and president of Glassman Wealth Services in McLean, Va. "Given the fact that they're able to plan, think longer-term and live within the means—and that's the most important thing—they're able to accumulate more wealth over time."
There are some differences, though, between older millionaires and younger generations.
Fidelity found boomer millionaires, who are 49 years old and older, are more likely to stick with the same old investment strategy. Four out of 10 boomer millionaires did not add any asset classes in the past year. Meanwhile Gen X and Gen Y millionaires, who are 48 years old and younger, are more willing to make changes and add more complex investments, such as foreign currency, international individual securities, venture capital and derivatives, to their portfolios.
(Read more: Retiring with more: Don't wing it on your 401(k))
Still, careful planning comes first. It is an essential building block at any age.
That's what younger millionaires do—even though retirement may be decades away. "Because they're planning, they're diversifying, they're thinking long-term," Glassman said. "And that's what's allowing them to take additional risk in places where it's prudent."
—By CNBC's Sharon Epperson. Follow her on Twitter . See more Money News from The TODAY Show at ourFacebook and pages.