Wed Apr 02 2025, by Tyler Gardner

3 Things Retired Millionaires Wish They Knew Sooner

Here are three things retired millionaires wish they knew sooner. If any of this is helpful, join the 50,000 other readers who are already getting smarter with their money by signing up for my free newsletter by clicking the link in my bio.

1. Millionaire Status is Not Enough

First, being a millionaire is often not enough these days. I hate to say it, but with inflation, taxes, healthcare, and longevity, what might have once felt like plenty in your 50s can suddenly feel ridiculously tight in your 70s. Instead of focusing on the number, concentrate on your annual cash flow.

2. Playing It Too Safe Too Soon

Second, many retirees, through no fault of their own, are taught to become more conservative as they age. This often leads to dumping stocks for bonds, but the truth is that low returns and inflation erode the purchasing power of those bond payouts. A 30-year retirement requires a focus on growth—period.

3. Retirement as an End Game

Lastly, they spent their lives thinking of retirement as an end game. Retirement isn’t just about not working; it’s about not working on things you didn’t want to work on. Many retirees struggle with finding purpose because they no longer identify with their previous careers. The happiest retirees have a plan for their time.

So stop wasting your life running away from something and start thinking daily about what you’re running towards.

If any of this is helpful, go check out my podcast, where we dive deeper into these topics—it's more than just 60 seconds of insight!

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