Number of Fidelity 401(k) millionaires hits record high

Fidelity Investments reported the number of customers with at least $1 million in their accounts totaled 168,000 at the end of the second quarter.

The means a record number of 401(k) millionaires were made this spring, according to USA Today.

"Individuals are increasing their savings rates, they're taking advantage of their company match and they're keeping a healthy percentage of stocks in their account," said Jeanne Thompson, senior vice president at Fidelity Investments. "It takes many years of consistent saving and investing, but following these steps as part of a long-term retirement strategy can put an individual in a good position to eventually reach this savings milestone."

Read more from USA Today.