Why Is It So Hard to Retire?

Only eight percent of Americans are millionaires. Three out of four millionaires said that regular, consistent investing over a long period of time is the key to their financial success. Eight out of ten millionaires invest in tax advantage retirement accounts. For 95 % of them, it took 28 years to reach millionaire status. When you have a long time horizon, it makes it much more likely that you'll become a millionaire. Even if you don't have a high income. If you invest 500 dollars per month, assuming a ten % average return with market matching index funds, over 30 years, you will be a millionaire. Only 31 % of millionaires averaged more than a hundred grand in salary earnings. One third didn