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If someone has an income of one million dollars or more, that does NOT make them a millionaire.It doesn't matter how much money you earn, it matters how much money you KEEP. If someone makes a million dollars per year, but they're drowning in debt payments each month, they're not necessarily a millionaire. People who make a lot of money just have more room to make bigger mistakes... be wise with what you have, no matter what that amount is."Millionaire" status is measured by a person's net worth which is determined by his or her network. That's the value of what they own, minus what they owe. (assets - liabilities)