[Certified Financial Group]

Wealthy people usually aren�t born that way. Most spend their lives amassing their fortunes by working hard, spending little, saving a lot and investing wisely. It may sound like a simple strategy, but the fact that the vast majority of Americans fall short of millionaire status proves that it�s easier said than done.

Read the rest of the story.

[manaboutown]

Many if not most of my friends from high school and college have become millionaires and multimillionaires; several just by owning a couple of rental houses in California. Some came from well off or wealthy families but most did not.

A million dollars is simply not what it used to be. IMHO I consider a millionaire today one who earns $1M/year. Now that is an attainment!

[Topspinmo]

Another reason everybody trying to steal chunk of you hard earned savings. Most people live like millionaire but are deep in hock. And the ones that do save all their life has to find ways to keep the government (state and Feds) stealing it do to earned income if drawn out. BIG Racket, legalized stealing.

[rubicon]

i agree with topspinmo and manaboutown. First the scenarios laid out by investment people are simply not reliable. Many public sector pension funds discovered that the hard way and they are heavily underfunded.

For common folks like us despite what I am about to say it is crucial that people defer income in their earning years and invest, the more the better. However the investment scenario again are too optimistic and have been for decades . So projected wealth is overstated given the time value of money, inflation advisor fees, management fees, fees fees, the ups and downs of the market both equity and bond . Its why my wife and I increased our deferred income contributions to savings and investments

Then we have the government that feels entitled to dig deeper and deeper into our pockets so in the end as you liquidate your IRA, etc consider the government is going to take at least 1/3+

And if you were one of the top earners and accumulated in excess of 10 million + you are facing a federal and perhaps state death tax .

So the reality to save to become a millionaire is a bit deceiving and we haven't addressed those who will face immense medical bills in their declining years. despite whether you pay for long term care or not

[Topspinmo]

Another thing I think financial planners know you will never be millionaire due to the fees that over time steal upwards Of 50% or more year of the earnings, take that times 20 or 30 years and it's big bucks. Plus you don't have access to you own money without huge penalties.. Not me saying this investigating reports said it.