In Continuation (Retiring a Millionaire)

The previous article simply discussed one way of retiring with a cool million bucks, instead of foreclosure. If one is 26 years old now, he needs to save 1,667 a month to be able to generate 20,000 annually. While that may be difficult on the initial years, the increase in earning capacity as time goes by will make a 20k annual savings a lot easier. And since a million bucks will not be as valuable after 40 years, as it is now, it would be wise to throw as much money as possible into savings accounts to be able to end with more money come retirement age.

In some of the next articles, we shall be discussing diversifying assets (savings) in order to safeguard oneself..