How to Retire a Millionaire by Age 45

Sure, you want to be a millionaire, but your chances of doing it on national TV are slim. If you want to retire at 45, count on making (and saving) a lot of money.

Difficulty: Challenging

Instructions

Things You'll Need:

• Financial Calculator
• Bank Account
• Brokerage Accounts
• Personal Financial Software

1. Start at age 21.

2. Invest $20,000 now at a 29 percent return rate until you are 45.

3. Or, invest $118,336 now at a 15 percent return rate until you are 45.

4. Or, invest the $20,000 now, plus $782 per month, at a 15 percent return rate until you are 45.

Tips & Warnings

• If you are older or younger than 21, but still want to retire as a millionaire at 45, see the Financenter.com Related Site, left, to calculate the numbers for someone of your age.
• Financial calculations are not an exact science. You must also consider federal and state taxes, inflation, account management fees and other factors.
• Sadly, $1 million does not go as far as it used to, especially if you are only 45 when you retire. Better get some financial advice before planning on that million to carry you through.

[CCrock]

on 5/30/2009 Where do you get a 29% return on your money! That's what I would like to know! :)

[zemzem82]

on 1/31/2009 Great investment plans.-zemzem.ecrater.com

[justbrandon]

on 6/3/2007 Millionaire Dating - Maybe a faster way to become a millionaire is to marry one? At least that is what websites such as www.SeekingMillionaire.com are proposing.

[question]

on 1/2/2007 I have recently had a chance of using a Personal Finance Software package by Australian business Parcus Group - Personal Finance Associate.
The product is very good. For the AU$29 it costs, you get budgeting, financial planning templates as well as advanced features that typically cost loads more as separate software packages such as investment real estate calculations (mainly based on rental cash-flow analysis) as well as some value based shares valuations (based on Warren Buffet's stock valuation methodology)
Their website is www.parcusgroup.com
For anyone interested in their own wealth creation this product is definitely worth looking at.

on 8/8/2006 We all know that we would adore that million dollars if we had it, but how could we ever obtain it? When you're on a diet, you try the best to restrain yourself from eating sweets, or at least I hope so! I guess to make money, you need to save as much as you can, even if it means buying the cheapest, thinnest toilet paper at the 99 cent store! All the money that you save should be put to the side. Along with real-estate properties, these formulas could go together pretty nicely. I found the needle!