Retire a Millionaire: The $1 Million Plan That Starts With Just One Change

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[[{“value”:”Image source: Getty Images
My wife and I became millionaires fairly early in life. And while you might think we won the lottery or were early crypto adopters, the truth is painfully unsexy…Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. We just started automatically investing a portion of every paycheck, stuck with it, and let time do the rest.That one habit changed everything for us. And it’s the exact same step I recommend to literally anyone who wants to retire wealthy.How a tiny investment grows into $1 millionOne of the biggest complaints I hear people saying is, “I can’t save very much.”But what they don’t realize is how little amounts can grow to massive numbers over time. It’s all due to compound interest.Here’s an example using $300 per month. If you invested each month with an 8% average annual return (a common long-term stock market estimate), here’s how it would grow over time:YearsFuture Portfolio Value10 years$52,15120 years$164,74330 years$407,81940 years$932,60350 years$2,065,572Data source: Author’s calculations.That’s just ten bucks a day. And if you can double that savings to $600 per month, you will double all those future values.You can start with even less. The habit matters more than the amount. Over time, as you earn more or have more breathing room, you can increase your contributions.Even better, automate your investments. If money goes straight from your paycheck to your 401(k), you’ll never have a chance to spend it — and you probably won’t miss it.Not sure how to get started? With our partner, SmartAsset, you can get matched with up to three fiduciary advisors so you can get professional advice.Best “set-and-forget” investing accountsIf you want to build wealth on autopilot, these accounts make it easy to invest consistently and forget about it until retirement.401(k): Invest straight from your paycheckIf your job offers a 401(k), that’s usually the easiest place to start. Money gets taken out of each paycheck and invested before it even hits your bank account. Plus, many employers offer a match — and that’s free money.A Roth or traditional IRAA Roth IRA is great if you’re still in a lower tax bracket, because withdrawals in retirement are tax-free. A traditional IRA gives you a tax deduction now, but you’ll pay income tax on your withdrawals later.Either way, IRAs are simple to set up and perfect for building that automatic investing habit. Open your first IRA with one of these top-rated brokers.A regular brokerage accountI encourage everyone to prioritize their 401(k)s and IRAs, because they have tax advantages and are built for retirement saving. But if you’ve already maxed those out, go with a standard brokerage account.No matter what account you invest in, make sure to set up those recurring transfers.If you’re consistent, the wealth will show up. Maybe not tomorrow, maybe not next year. But eventually compound interest will kick in and take over — just like it did for me and my wife.Want to talk with a professional? A short questionnaire from our partner, SmartAsset, helps match you with up to three fiduciary financial advisors, each legally bound to work in your best interest.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.”}]] [[{“value”:”

My wife and I became millionaires fairly early in life. And while you might think we won the lottery or were early crypto adopters, the truth is painfully unsexy…

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We just started automatically investing a portion of every paycheck, stuck with it, and let time do the rest.

That one habit changed everything for us. And it’s the exact same step I recommend to literally anyone who wants to retire wealthy.

How a tiny investment grows into $1 million

One of the biggest complaints I hear people saying is, “I can’t save very much.”

But what they don’t realize is how little amounts can grow to massive numbers over time. It’s all due to compound interest.

Here’s an example using $300 per month. If you invested each month with an 8% average annual return (a common long-term stock market estimate), here’s how it would grow over time:

That’s just ten bucks a day. And if you can double that savings to $600 per month, you will double all those future values.

You can start with even less. The habit matters more than the amount. Over time, as you earn more or have more breathing room, you can increase your contributions.

Even better, automate your investments. If money goes straight from your paycheck to your 401(k), you’ll never have a chance to spend it — and you probably won’t miss it.

Not sure how to get started? With our partner, SmartAsset, you can get matched with up to three fiduciary advisors so you can get professional advice.

Best “set-and-forget” investing accounts

If you want to build wealth on autopilot, these accounts make it easy to invest consistently and forget about it until retirement.

401(k): Invest straight from your paycheck

If your job offers a 401(k), that’s usually the easiest place to start. Money gets taken out of each paycheck and invested before it even hits your bank account. Plus, many employers offer a match — and that’s free money.

A Roth or traditional IRA

A Roth IRA is great if you’re still in a lower tax bracket, because withdrawals in retirement are tax-free. A traditional IRA gives you a tax deduction now, but you’ll pay income tax on your withdrawals later.

Either way, IRAs are simple to set up and perfect for building that automatic investing habit. Open your first IRA with one of these top-rated brokers.

A regular brokerage account

I encourage everyone to prioritize their 401(k)s and IRAs, because they have tax advantages and are built for retirement saving. But if you’ve already maxed those out, go with a standard brokerage account.

No matter what account you invest in, make sure to set up those recurring transfers.

If you’re consistent, the wealth will show up. Maybe not tomorrow, maybe not next year. But eventually compound interest will kick in and take over — just like it did for me and my wife.

Want to talk with a professional? A short questionnaire from our partner, SmartAsset, helps match you with up to three fiduciary financial advisors, each legally bound to work in your best interest.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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