14 Myths About Becoming a Millionaire Some of what you believe about becoming a millionaire may be all wrong. Editor's Note: This story originally appeared on NewRetirement. A lot of retirement planning articles suggest that you “need” a million bucks to retire securely. We know that is not true. There are as many different ways to retire with confidence as there are people. However, getting to a million dollars is a big and often desirable milestone. And, depending on your goals, retirement can indeed require sizable savings. Here are 14 myths and a few hints about becoming a millionaire. Millionaire Myth: You Need to Be Born Into Money