Future Millionaires Need Help to Make That Milestone

I borrowed the title from an article in Financial Advisor magazine.

Research from Fidelity on the money habits and attitudes of people with an average of $800,000 in investable assets and annual income averaging $150,000 shows that these “millionaires of tomorrow” want to get wealthier. But they’re more focused on managing their debt and controlling their spending than on boosting investment returns. They’re less comfortable with risk than millionaires. And 77% of the almost-millionaires whom Fidelity polled lack a written financial plan.

Maybe you are one of those “millionaires of tomorrow” who are relatively skeptical about the value of financial-advice relationships.  You should know that while about half of you work with an advisor, roughly three-quarters of millionaires do.  I have always advised people that if you want to be rich, do what rich people did to get there.

We recently developed an easy to use analytical tool that uses your age and your current investable assets and calculates how much you need to save each year and the rate of return you will need to achieve your financial goal by the time you retire.  If you want to see what your “magic numbers” are, give us a call at 757-638-5490 or you can reach us via our website. 

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