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The study, by Spectrem Group, the Chicago-based wealth-research firm, found that households with a net worth of $1 million or more say their assets have declined 30% or more. Nearly one-fifth of millionaires have experienced declines of more than 40%.

Nearly all the millionaires surveyed (90%) fear a prolonged economic downturn. Altogether, they believe it will last for another 22 months, and more than half (55%) are concerned they will not have sufficient assets to maintain their present lifestyles.

“The current financial crisis has had a dramatic impact on America?s millionaires, reducing their net worth substantially and threatening their ability to maintain both lifestyles and retirement plans,” said Catherine S. McBreen, Managing Director of Spectrem Group.

Spectrem?s measure of household assets doesn?t include primary real-estate but does include other real-estate, which has dropped precipitously. But for the households in Middle and Upper Richistan, where houses account for a smaller share of net worth, investment losses have been the main wealth killer. In keeping with my theme of the rich-investor revolt, many of the wealthy are blaming their wealth advisers.

According to the Spectrem study, just 36% of millionaires feel their adviser performed well during the crisis and only 14% say they will increase their use of financial advisers in the future.

There are many ways for a person to become wealthy in America today, however by following these 12 anchors of building wealth, you are increasing your chances of success. Here is a brief summary of the 12 anchors that will lead you on a path to prosperity.

Establish Your Financial Blueprint. This identifies where your finances are today: your income, expenses (and net income), and your net worth (i.e. your assets minus your liabilities). It’s surprising how many people can not tell you their net worth, or really don’t want to.

Establish Your Financial Independence Day. This is your goal – the result you will obtain by following the Wealth Cycle. You identify your expected net monthly income and net worth within a particular time frame. This is the lighthouse that guides you through the investment seas.

Conduct a Gap Analysis. What’s the gap between your destination and your starting point? The Gap Analysis helps you to determine which of the remaining nine building blocks you’ll do next. The process varies from individual to individual, so your sequence may differ from what I show here.

Create Multiple Streams of Income. This is not necessarily including your main job. Ideally, this is a business you created (possibly in addition to your job) that will produce additional cash flow for your future investments.

Entity structuring. To increase and sustain your wealth You’ll need to protect your assets and reduce your taxes by creating tax shelters. For example, entities like LLC’s and S Corporations protect you and your money in the long run.

Build a Wealth Account. You will purchase new assets and start new businesses from the money you have saved in your wealth account. You can manage your debt with other funds, but your wealth account money will be strictly used to buy assets. This will increase your monthly cash flow and your net worth.

Buy assets. Become an asset junkie. Invest directly in real estate, businesses, and even oil wells if possible. By doing so, you’ll increase your monthly cash flow and/or your net worth.

Forecasting. Start living and treating your life like a business. Properly forecasting your financial career will increse your wealth account exponentially.

Manage your debt. Reduce your debt(especially your consumer debt) – not first, but along with building your wealth account and buying assets. Often, your debt payments can be made from the money you earn on your assets, instead of from your paycheck.

Lead your wealth team. Work on your leadership skills so that you are leading your accountant, real estate agent, attorney, assistants, and others. Building your wealth is up to you, so don’t leave it in the hands of others.

Develope a strong mental muscle. All wealthy and successful people have developed a strong mental and emotional muscle. Basically, what keeps most people from becoming wealthy isn’t a lack of opportunity or time– it’s how they think and perceive things. Start thinking like a millionaire, and you’ll soon find yourself acting like a millionaire. Before long, you will BE a millionaire.

Work and Build a team. There is no such thing as a “Self-Made Millionaire.” There are only Team-Made millionaires. All the Donald Trump’s, Oprah’s of the world could not do it alone. They needed a team to get to where they are today.. So go out and build your team of investors, accountants, agents, mentors, and professionals. They will undoubtly get you to where you want to go financially.