Are we talking any and all wealth/asset millionaires? A good portion of them aren't the superrich on yachts and private planes some imagine. Most are long-term savers with a lot of real estate equity and retirement savings. They drive used cars and keep no debts. They had a long term vision and executed the plan over decades. Maxed out the IRS 401k limit of 17+k a year and restricted to living on the rest, rather than what many do of deciding what they "need" to live on and work backwards until they are putting 5% into retirement and hoping for the best. The people above don't hope. They run the math and stick to it the best they can with discipline. Btw not speaking of myself, I am only half-disciplined...and half-YOLO.
Also, and this surprises many, but military retirees in there 40s or 50s can also have assets with present values over 1 million. Those retirement benefits are worth a ton. Even just 40k a year annuity for that many decades is valued at ~1 million+. Police in specific areas can get similar. I've heard of upstate NY cops getting some amazing packages. People that risk their lives earn a premium future value, as they should.
