May the Fourth Be With You When You Claim Your Millionaire Retirement

By Newsfeedback@Fool Com (Chuck Saletta)5 days ago

If you want to retire a millionaire, the Star Wars saga can provide a surprising amount of useful guidance. In honor of this Star Wars Day (May the Fourth, get it?), take this opportunity to learn some investing wisdom so valuable that it has survived the journey from a long time ago and a galaxy far, far away.

With some wisdom passed down through the ages, you can find yourself on the path toward the light side of personal finance, and well on your way to a financially comfortable retirement. With that in mind, May the Fourth be with you when you claim your millionaire retirement.


Image source: Getty Images

Do. Or do not. There is no try.

Yoda's guidance to Luke Skywalker as the great master starts training his apprentice on Dagobah fits in incredibly well when it comes to investing successfully. There are numerous paths to successful investing, but they all have one simple set of steps in common:

  • Spend less than you earn
  • Invest the rest
  • Repeat

If you combine those steps with a reasonably good investing strategy over a long enough period of time, amassing a decent pot of money in the market becomes a pretty straightforward task. On the flip side, not taking those steps is a surefire way of ending up with nothing by the time you retire. The difference is as clear and stark as Yoda's Do. Or do not. There is no try. So take the simple steps needed to get yourself able to invest. It is the difference-maker when it comes to retiring a millionaire.

He is too old. Yes. Too old to begin the training.

Continue read on