No, the millionaires on the Merrill Lynch list are the real deal. They have liquid assets (stocks, bonds, and mutual funds) totaling over $1 million. That means nearly 1% of the population has over $1 million in cash or cash equivalents.

While a million dollars doesn't go as far as it used to, it's still the benchmark of real success in the U.S. How did these millionaires do it? Some of them inherited it. Others are bigwigs in major corporations who climbed the ladder through the ranks. A large number of them started their own businesses and developed them into successful ventures.

But guess how the vast majority of these millionaires made their money? They saved it! And most of them started saving early in life. Some of them never made a hefty salary. They were just very frugal.

Legend has it that John Wesley, the great Methodist preacher, never made a lot of money, but was worth over a million dollars when he died. How did he do it? He lived very frugally. And any money he didn't give away, he saved.

You can also watch your savings grow larger than you ever imagined. All you have to do is begin today saving at least 10% of your income, invest those savings in conservative investments, and maximize your retirement investing. Controlling your spending and staying out of debt are vital, as well.

While making a million dollars is an arbitrary number that really doesn't mean anything, it is a good financial goal. Don't let your drive to be a millionaire consume you, though, as there are a lot of things that are much more important. And make sure you're giving as much as you can along the way.

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