How to All But Clinch a Millionaire Retirement
With the S&P 500 teetering on the edge of a bear market and some high-growth-prospect companies down more than 90%, reaching millionaire status by the time you retire may seem like a crazy goal. In reality, most bear markets plant the seeds of the next great recovery. Unless you believe that this crash will usher in the end of capitalism and the entrepreneurial spirit, it is very likely that this one will, too.
That makes now -- when the market is down sharply from its highs -- a great time to put your plan in place to reach millionaire status by the time you retire. After all, every dollar you invest today buys that many more shares of stock than it did near the market's highs. More shares translates directly to a larger base that participates in any recovery that follows. That can actually end up accelerating your path to millionaire status.
Still, building a nest egg that large is a journey that takes time. While there remain no guarantees in the market, there is a simple, four-step time-tested approach that can give you a great shot to all but clinch a millionaire retirement.
Source Fool.com
