Kiplinger's report, part of the series 'My First $1 Million,' shares insights from over 100 millionaires about their wealth-building habits. The first lesson highlights that time and compounding are essential; many millionaires began investing early to allow their money to grow. Regular savings are emphasized, with many utilizing retirement accounts like 401(k)s and IRAs, and automating their investments to ensure consistency. Additionally, millionaires tend to live below their means, avoiding unnecessary expenses and credit card debt. They advocate for self-education in financial matters, often recommending low-cost index funds over risky stock picking. Ultimately, these individuals value financial security and peace of mind more than a luxurious lifestyle, indicating that true wealth brings stability and reduces stress.