Want to Become a Millionaire Well Before Retirement? 3 Key Moves to Make
Many people save and invest all of their lives so that by the time they're set to retire, they have $1 million or more in their 401(k) or IRA. But while attaining millionaire status in time for retirement is a noble goal, what if you'd rather get there sooner? With the right strategy, it's more than possible. Here's what you'll need to do.
For growing wealth, time is an extremely valuable weapon. In fact, one reason so many people retire as millionaires is that they give themselves 40 years or more to hit that goal. If you want to become a millionaire by, say, your 40s, you'll need to get into the habit of saving from an early age -- ideally, as early as your first paycheck. But if you start working in your early 20s and want to reach millionaire status by your late 40s, that still gives you a good 25 years to invest.
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Source Fool.com
