Mon Dec 23 2024, by Tyler Gardner

Retirement PlanningInvestment AdviceFinancial IndependenceLow-Cost Index FundsWealth Management

Five Essential Tips for Retiring with Two Million Dollars

If you are 60 years old and you're about to retire with 2 million bucks, you might want to know these five things.

Number One: You should invest that money in low-cost index funds, which historically return an average of 7% annually. Untouched, that account might appreciate to $15 million within 30 years.

Number Two: If you invest that money through an advisor, and that advisor charges you 1% to manage the money, they might lose an additional 1% a year by placing you in expensive mutual funds and frequently trading your portfolio when unnecessary. This means you would most likely have closer to $8.5 million within the same period.

Number Three: Learning to invest on your own with low-cost index funds tailored for you and your family can genuinely save you millions of dollars—money that can be spent on your family instead of your advisor's.

If any of this is helpful, like and follow, and I'll keep trying to get you one step closer to where you need to be.

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