Proper format of BufferTempStoragePath

Hello, I have one package that seems to have continuous problems with memory. As of right now it loads a little over 1 million records. I tried leveraging the property, BufferTempStoragePath, but I don't seem to have the right path name. What sort of path do you put there? File? Folder? If it is a file, what sort of file should it be... text, dat, xml? If someone could point me in the right direction it would be greatly appreciated. Thanks.

PS: Below are the error messages I am getting:
[DTS.Pipeline] Information: The buffer manager detected that the system was low on virtual memory, but was unable to swap out any buffers. 4 buffers were considered and 4 were locked. Either not enough memory is available to the pipeline because not enough is installed, other processes are using it, or too many buffers are locked.

[DTS.Pipeline] Error: The buffer manager cannot create a temporary storage file on any path in the BufferTempStoragePath property. There is an incorrect file name or no permission.

It should be a folder.

-Jamie

|||Thank you. Unfortunately I set the property to be a folder but it doesn't seem to be using the swap location. I still receive the following error messages and a lot of them...

[DTS.Pipeline] Information: The buffer manager detected that the system was low on virtual memory, but was unable to swap out any buffers. 4 buffers were considered and 4 were locked. Either not enough memory is available to the pipeline because not enough is installed, other processes are using it, or too many buffers are locked.

I am running the package by itself with nothing other than Sql Server running. Any ideas what I might be missing here? I don't believe it is a security problem as I am setup as a local admin on this development box. Any further assistance would be greatly appreciated.