How Dividends Can Help Boost You to Millionaire Status in Record Time

A retirement rule of thumb is to aim to have at least 80% of your preretirement annual income to keep your current lifestyle. So, if you currently make $100,000, your goal should be at least $80,000 in yearly retirement income. Even if you managed to save $1 million for retirement, at $80,000 annually, your savings would be gone in 12.5 years.

Here's how you can use dividends to boost yourself to millionaire status earlier and increase your retirement savings.

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Source Fool.com