How much does it cost to retire peacefully?0 steps to save from 100 to 7 million in the U.S.

OnRetireGuru©️ Retirement ColumnWhere we usually say that we want to maintainDecent retirement, Including future inflation, you may need to prepare at least $100 million.Many people find it very difficult to earn $100 million. Maybe they win a lottery or go to Las Vegas because of luck.Such thinking, ignoring the factors of accumulation and time, is tantamount to gambling.

For people who have developed good financial management habits since childhood, becoming a millionaire is the ultimate inevitable result.No matter how old you are, you can do this in accordance with some basic common sense principles.The following are the 100 essential steps that "Money" magazine shared to save $7 and finish the dollar at the time of retirement.

100 steps to deposit $7 million USD:

1. Make a financial plan and write it down
2. Save money, save money, save money again
3. Consumption downgrade
4. Don't owe credit card debt
5. Choose a method that suits you for investment and financial management
6. Start a business of your own
7. Seek professional financial planning

"Debt prevents people from moving forward," said Jason Flori, a registered financial adviser from Georgia, CFP®️. "People buy debts and pay them off for the rest of their lives."

This is a question of "choice"

This is not to say that we have to cut down on food and clothing every day. The house is full of cheap furniture, and we have to cut down on food and eat hamburgers every day.But before you want to buy a luxury car, ask yourself, do you really need it?Does our living room really need a 60-inch high-definition TV?

This is oftenhow to chooseThe problem.Many people who choose to accumulate "wealth" and develop "habits" but do not choose "materials" will never spend their money on things like "latest models".Because these people know that our money can be used in better places.

Spending money to buy "liabilities" may put pressure on us, and it is best to spend money on buying "assets"-over time, "assets" will gradually appreciate and give us returns.

1. Make a financial plan and write it down

It is not enough to just say that you want to be "rich".We need a practical plan, and then put it down.

"The written plan will force you to implement it," said Steward from Alabama.