Many people who choose wealth over stuff wouldn't consider spending money on the "latest and greatest" because they know their money can be put to better use elsewhere.
Buying a "liability" would probably cause them stress because they'd rather buy an asset — something that will appreciate over time and give them a return on their investment.
Flurry says he has a hard time getting some of his older clients to spend their money.
"They've been savers all their lives and the thought of spending $5,000 or $10,000 on a vacation is ridiculous," he says. "It doesn't matter that they're worth $3 million."
With help from those who advise people already at or over the million mark, we've come up with these seven steps to becoming wealthy.
1. Develop a written financial plan
Saying you want to be wealthy isn't good enough. You need to come up with a workable plan and put it on paper.
"The written plan forces you to do something," says Stewart Welch of The Welch Group in Birmingham, Alabama.
"Calculate what you need to earn and how to invest. The plan isn't just the goal, it's the whole thing — the dream, the goals, the options."
The options, he adds, are "scenario planning" — all the ways you can accomplish that goal, such as opening a Roth IRA or contributing to a 401(k).
2. Save, save, save
The end result of your financial plan should be systematic investment. Get in the habit of saving money. Build an emergency fund in a money market account so you don't have to raid the rest of your savings and investments when an unexpected major expense arises.
Make a point of saving at least half of every pay raise.
3. Live below your means
Don't be a walking billboard for overpriced designer clothes, shoes, sunglasses or jewelry.
And, don't allow your house or car payments to be budget-busters. Use Bankrate's mortgage calculator to determine how much house you can really afford.
4. Lay off the credit
Some people say that if you can eat it or wear it, don't put it on your credit card. That's good advice, but take it further. Try not to put anything on your cards that you can't pay off in two or three months.
You need only one or two credit cards. If you have a fistful, pay them off. Remember, debt holds you back.
"It reduces cash flow for other things, including investing," Welch says. "If no one gave you money to borrow, you'd be better off."
5. Make your money work for you
It takes money to make money, but that doesn't mean you need a lot to invest.
Open an account with a mutual fund company that has no-load funds and low expense ratios. Build a diverse portfolio, and you can reasonably expect to earn 8 percent to 10 percent annually on your investments over the long haul.
6. Start your own business
In their book "The Millionaire Next Door: The Surprising Secrets of America's Wealthy," authors Thomas Stanley and William Danko say that two-thirds of millionaires are self-employed, and that entrepreneurs represent the majority of that group. The rest are professionals, such as doctors and accountants.
Entrepreneurs create most of the country's wealth. Most millionaires in the making — 8 out of 10 — earned or increased their assets on their own, a survey by Fidelity Investments found. That holds true for actual millionaires as well.
7. Get professional advice
A good financial planner can help you fill your portfolio with the right investments and dump the wrong ones. You don't need to relinquish control, but you do need to form a good relationship with an expert in this complicated area.
According to another Fidelity survey, more than 6 out of 10 millionaire investors use financial advisers to help manage and protect their wealth.
Maybe finding the right adviser could tip the scales toward the seven-figure milestone. If you can't afford to have a financial planner manage your money, many will review your portfolio and make recommendations for a one-time fee.
Bankrate's "Save a million dollars calculator" can show how long it will take for you to reach your big goal.