Most Millionaires Don’t Plan to Retire

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Your comments come solely from lack of initiative and determination on your part, if not the bitterness and distain towards those that have it. It is the norm for distaste of the haves from the have nots. Heck, I would be in the same camp, if I had not done something about it. Which leads me to this question: are you a spend thrift or spender? If you are the latter, seek to change your ways. You are the sole controller of your destiny.
Sitting around on your butt counting money? I like to think of it more as actively monitoring a growing asset. I use to work hard, but my savings/investments overtook me by working even harder- at least in the annual earning potential. Now I work because I like and enjoy what I do. The key to long term saving is to start early, having little to no unsecured debt, not wanting to seek immediate gratification at every turn, and using the element of time coupled with compounding rates of return.
Anyone can do it, but it requires some discipline. I use to tell myself that this savings didn't exist, therefore never touched it, even in emergencies. It was strictly for retirement purposes and nothing else. Trying to share this information with family fell on deaf ears as they purchased new cars every few years, big screen TVs in more than one room, replacing furniture on whim, taking cruises throughout the year, and repaying the minimum on their credit cards at exorbitant rates. Some might call this living the dream. I call it living beyond your means or a train wreck waiting to happen. Consumer debt can definitely be more crippling than a savings- even a savings that can't be touched. The odd thing, both are gradual with completely different outcomes. Sad part is, no one can do this but you.
Mark, your perception of "Most people who have saved more than a million are probably used to a comfortable lifestyle - a nice house, decent car, holidays abroad, no worries about healthcare" is skewed as well, but look at the bright side- at least you have a nice savings. Hey, wait a minute, you fit into that description of someone with "a million or more". Why are you planning on working for another decade or so? Read the book, "The Millionaire Next Door". You might see yourself.
Well, I am already sitting on my butt. Might as well count my money. Best of luck to all.

Craig of CA 4:16PM December 29, 2010

I have retired last year and i confirm the statement that a million bucks ain't enough to make anyone rich,get working as economies are doing their thing otherwise you will end up begging on the streets. Standards of living are rising and affect everyone alive.

HAMILTON of NV 11:48AM October 17, 2010

My wife and I fit the category they are discussing - we have well over 1.5 million in our investments. And we still both work full time, in regular jobs, just like we have all our lives - and plan to do so for another decade or so.
Most people who have saved more than a million are probably used to a comfortable lifestyle - a nice house, decent car, holidays abroad, no worries about healthcare. Then do the math. After tax, you're likely getting about 45K per year from your 1.5 million, before you start cutting into your capital. That's less than your average household earns in the US. It might be fine if you live in a small town, but I can promise you that if you live in a large city like DC, San Francisco or New York, that 45K is not going to finance a comfortable lifestyle.
Sad to say, but a million bucks ain't enough to make you rich anymore.

Mark 7:52AM October 14, 2010