Among investors with at least $5 million in investible assets, saving early and regularly is the most important action that has contributed to their financial success, according to a PNC Wealth Management survey. 

Making smart investment choices came in second, earning a lot of money a distant third and controlling spending fourth, CNBC reports.

Asked which of the following factors was the top facilitator of their success, 63 percent of the millionaires cited hard work, 16 percent listed good decisions and 9 percent identified luck.

Editor’s Note: 18.79% Annual Returns . . . for Life?

"Most of the millionaires surveyed have controlled their own destiny by working hard and saving early and regularly," said Joseph Jennings, director of investments for PNC Wealth Management.

"These are personal choices over which we all have control. This indicates that the 'American Dream' is still very much alive."

Various other answers indicate the respondents are now more worried about their quality of life than quantity of wealth.

Asked what drives their daily decisions, 25 percent of them said "enjoying life more." That compares with only 9 percent 10 years ago.

Patrick Morris of The Motley Fool notes that while becoming a millionaire is very difficult, "with hard work, patience and intelligent spending and savings habits, it is a reality that can be had by all."

Dividend stocks can help you get there, he explains. "Over the long term, the compounding effect of the quarterly payouts, as well as their growth, adds up faster than most investors imagine."

Editor’s Note: 18.79% Annual Returns . . . for Life?

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