How To Retire A Millionaire At Any Age

Growing up as a child, one day, I asked my mother if we were rich.  She said no.  I felt rich.  I couldn't understand why we weren't rich.  So, I asked her:  "What do rich people have, that we don't have?"  She thought about it for a moment and she said:  "Well, rich people have two or three bathrooms in their house."  I thought about that for a moment and I said:  "How many bathrooms can you use at one time?"  My mother looked perplexed and she said:  "Rich people have very large homes, with swimming pools and tennis courts."  I thought about that for a moment and I said:  "Do you really need lots of rooms that you probably won't even use to live in to feel rich?  Is it better to have your own swimming pool or go swimming with your friends at the YWCA or go swimming in nature, can rich people own nature too?  What's better than a secret swimming hole with your friends?"  My mother looked at me and just shook her head, giving up trying to explain it to me.  I still felt rich!
 
Did you know that some money can be cursed and it gets people into a lot of trouble?  I don't define my happiness by fortune or fame.  I define my happiness by doing what I love ... but money helps.  Did you know most lottery winners are poor again in a few years because they never learned to manage their money.  Did you know that a lot of lottery winners consider the money cursed because so many bad things happen to them after they received it.
 
There is a safe way to grow your money at almost any age and retire a millionaire.  Many people may not need a million dollars to retire, they may be content with half a million dollars.  With this plan, you can aim at what feels comfortable to you and plan to retire ... comfortably ... one day.  I don't expect I will ever retire as long as I love what I do and I do what I love.

Find out how much you need to save each month to reach $500,000, $1 million or $2 million by age 65.

The road to $1 million starts early, but if you're a late bloomer, help is at hand. The information below shows how much you need to save each month to accumulate $500,000, $1 million or $2 million by age 65, along with strategies for achieving that goal. At age 25, you're starting from scratch. At ages 35, 45 and 55, we assume you already have money in savings, on which you're earning 5 to 8 percent annually.

Find your age bracket below to see the "retire a millionaire" strategy:
 

How to Retire a Millionaire If You're 25




Age 25

You've saved: $0

To reach $500,000, what you need to save per month: $143
To reach $1 million, what you need to save per month: $286
To reach $2 million, what you need to save per month: $573


Get help from Uncle Sam:
You may qualify for a retirement-savings tax credit of 10% to 50% of the amount you contribute to an IRA, 401(k) or other retirement account. The credit can reduce your tax bill by up to $1,000. To qualify, your income must be $25,000 or less if you're single, $37,500 or less if you're a head of household or $50,000 or less if you're married.


How to Retire a Millionaire If You're 35



 
 
Age 35

You've saved: $0

To reach $500,000, what you need to save per month: $335
To reach $1 million, what you need to save per month: $671
To reach $2 million, what you need to save per month: $1,342

You've saved: $25,000

To reach $500,000, what you need to save per month: $152
To reach $1 million, what you need to save per month: $488
To reach $2 million, what you need to save per month: $1,159


Get help from Your Boss:
If your employer offers a matching contribution, contribute at least enough to your 401(k) to capture the full match. Otherwise, you're walking away from free money. Try to save 15% of your gross income for retirement, including your employer match.



How to Retire a Millionaire If You're 45




 
Age 45

You've saved: $0
To reach $500,000, what you need to save per month: $849
To reach $1 million, what you need to save per month: $1,698
To reach $2 million, what you need to save per month: $3,395

You've saved: $25,000
To reach $500,000, what you need to save per month: $640
To reach $1 million, what you need to save per month: $1,489
To reach $2 million, what you need to save per month: $3,186

You've saved: $50,000
To reach $500,000, what you need to save per month: $431
To reach $1 million, what you need to save per month: $1,280
To reach $2 million, what you need to save per month: $2,977

You've saved: $100,000
To reach $500,000, what you need to save per month: $12
To reach $1 million, what you need to save per month: $861
To reach $2 million, what you need to save per month: $2,559


Play Catch-Up: Aim to contribute the maximum $15,500 to your 401(k) this year or $4,000 to your traditional or Roth IRA. Once you turn 50, you can contribute an additional $5,000 in catch-up contributions to your 401(k) and an extra $1,000 to your IRA.


How to Retire a Millionaire If You're 55




 
Age 55

Here's your wake-up call to start saving now ...

You've saved: $0
To reach $500,000, what you need to save per month: $2,733
To reach $1 million, what you need to save per month: $5,466
To reach $2 million, what you need to save per month: $10,932

You've saved: $25,000
To reach $500,000, what you need to save per month: $2,430
To reach $1 million, what you need to save per month: $5,163
To reach $2 million, what you need to save per month: $10,629

You've saved: $50,000
To reach $500,000, what you need to save per month: $2,126
To reach $1 million, what you need to save per month: $4,859
To reach $2 million, what you need to save per month: $10,326

You've saved: $100,000
To reach $500,000, what you need to save per month: $1,520
To reach $1 million, what you need to save per month: $4,253
To reach $2 million, what you need to save per month: $9,719

You've saved: $200,000
To reach $500,000, what you need to save per month: $306
To reach $1 million, what you need to save per month: $3,040
To reach $2 million, what you need to save per month: $8,506


Stay on the Job: Working a few years longer can boost your savings.
 
Don' feel bad about what little nest egg you have.  Be thankful for whatever you have.  The question that matters most is how happy are you in your life?  Focus on getting more joy and happiness in your life and money is not the deciding factor for your being happy.  Save what you can save for you future but don't neglect to live for today as well.  The angels will bless you in your own time, some of you will win a lottery, some of you will inherit money, some of you will work and save money, some of you will find money.  The angels have a plan to help you ... have a little faith in that. 
 
Do what you've got to do ... baby that's enough!
 
 
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 The angels have a modus operandi for your love life and happiness. Keep the faith. Call me for any concerns that you have: Love & Relationships, Mysteries, Dreams, Career or Life Questions.

Have faith and hope, because there is something positive and new on the horizon that you can't yet see.

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