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About Retirement Calculator, Inc.

CBS The Early Show

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How to Become a Multimillionaire

How to Become a Multimillionaire

When anyone starts looking for a quick guide on how to become a multimillionaire there are a few things that are certain:

1. Unless you are already a multimillionaire, in order to become one you're going to have do some research and hard work;
   
2. If you're committed and make the right choices, it will be possible to make the dream come true - but know that it is not going to happen overnight;
   
3. You have big dreams and you want to make a commitment to achieving them; and,
   
4. You'd better start getting to work.

Now, if you came here looking for information about how to become a multimillionaire and you are looking for a quick fix, you may have read the words "commitment" and "hard work" and started to think that you're not going to find exactly the information that you are looking for. However, rest assured, if you are looking for information on how to become a multimillionaire, we're going to offer a couple of tools that can help you to make it happen.

First, we are going to suggest that you download the free retirement calculator by following the link on this page. When you do, you will be able to download the first tool that will help you to become a multimillionaire; you will also set things into motion for the second tool.

With the retirement calculator, you will be able to take a look at where you are at now in comparison to where you want to be. Obviously, if you want to learn how to become a multimillionaire, you have a sense of where you want to be already. By entering information about your current savings accounts, you will be able to see how quickly your money is accumulating and helping you to reach multimillionaire status. By going a step further and entering the information about stocks that you have invested in and the mutual funds that you have, you can also see whether or not your current investments are going to help to get you to where you want to be.

While you are entering information, your contact information will be sent to a financial advisor in your area who will follow up with a phone call. You will be able to discuss your current situation, your desire to learn how to become a multimillionaire and the savings and investment strategy that you currently have in place. You'll be able to ask questions, and the financial advisor will be able to start talking with you about the options that you have.

You are likely to hear the phrase "high risk investing" at some point during that conversation; however, if you are looking for information about how to become a multimillionaire, chances are good that you know that low risk investments are going to come with lower results. Still, before you act on the financial advisor's suggestions, you will be able to check them all out with the retirement calculator to see exactly how they stand to benefit you and help you to reach your goals.

Planning ahead. Taking risks. Listening to the right advice and knowing when to jump. These are the things that will help you learn how to become a multimillionaire. Are you ready to get started?

Find a Qualified Financial Planner in Your Area

Do You Know the Answers to These Important Retirement Questions?

• Are you retired or thinking about retiring?
• Do you have enough money to comfortably live throughout your retirement years?
• Would you like FREE face to face advice or retirement consulting from a trusted local financial advisor?
• Are you looking for help to achieve your long-term financial goals?
• Would you like to learn more about Annuities, 401's, Life Insurance and Long Term Care?

Would you like to retire, but aren't sure you can?

Have you wondered if you have enough money to retire, how long it will last, how much you can take out, and the best way to invest?

Everyone who has thought about retirement has asked themselves these and other questions. Now you can get ALL the answers in Retire in a Weekend! This short, simple, humorous, easy-to-understand book answers the 10 most popular questions and addresses the 5 biggest concerns people have about retiring! So stop asking yourself IF you can retire ... with Retire in a Weekend! you'll learn HOW to actually do it.

For a limited time, purchase Retire In a Weekend for $29.95 and receive a free download of Retirement Calculator Premium.

Analysis of the Economics of Early Social Security Withdrawal

Robert J. Phillips
Chief Retirement Consultant

Deciding whether or not to take the early withdrawal of social security at age 62 can be difficult. If you need this income at 62 to fund your retirement the decision is fairly straightforward. Take it early! On the other hand, if you have another source of revenue to fund your retirement your decision will be primarily based on lifestyle, health and investment preferences.

Several factors can affect your decision. First is your life expectancy. If you are in good health and have a family history of living beyond 90 then waiting for full benefits may be best. Two other factors impact this decision. First and most important is the value of money or your expected return from your investments. If you are using other investments instead of social security to fund your retirement you should use the rate of return of these investments as your value of money. There is another way to look at the value of money. If you do not require the social security money to live, you can invest the distributions for the future. The rate of return of this investment is your value of money. If your investments will make larger returns such as stocks this would favor taking the early withdrawal.

The last factor impacting your decision is inflation. Social security includes an annual adjustment based on inflation. You cannot control this variable but you should be aware of its impact. If future inflation is significant it will favor a later full distribution

FREE Social Security Calculator:

We developed a calculator to assist in analyzing the impact of taking early benefits at age 62 or waiting for full benefits at age 66 to 67 depending on the year you were born...If you were born in 1960 or later your full benefits will begin at age 67 and your reduction for early benefits at age 62 will be 30%. If you were born between 1946 and 1960 your full benefits begin as early as age 66. We have included a chart that summarizes information.

To use the calculator you need to input your year of birth. You also need to input a value of money up to 10% and a projected inflation adjustment. The calculator analyzes income generated over time from both the early and full benefit investments. It calculates the age at which full social security will catch up and breakeven with the early withdrawal. If you were born before 1960 your breakeven age will be impacted by the year you were born. An early breakeven age favors waiting for full benefits.

The social security calculator is not the final answer whether to take an early withdrawal but it does give you additional economic data to assist in that decision. Ultimately you must balance income, investments and lifestyle to optimize your enjoyment during your retirement years.