The Magic Three: Tips to Pursue and Preserve Your Middle-Class Millionaire Status

Achieving “millionaire status” is the financial aspiration of many. However, when we do the math in 2018, we realize that for most of us accumulating a million dollars for the future is just step one. With the disappearance of pensions and escalating costs for health care as we age, we need to have multi-millions set aside for our retirement. After all, we do not want our style of living to diminish down the road; if anything, we want it to improve. And with today’s longevity, that takes money. We can help you learn the tips to achieving and maintaining your millionaire status.

The good news is we can all relax. With The Magic Three Tips working for us, it is possible to aim for the millions we need accumulated when we retire. In fact, these three tips will likely continue to serve well during retirement, too. Let us begin by taking a look at The Magic Three Tips, to be followed by a real-life illustration of the tips in action:

  1. Determine your future (retirement) income goal and the portfolio “number” you will need to generate that income when you retire.
  2. Fund your retirement savings plan each year, as you aim to accumulate what you will need.
  3. Adopt the portfolio asset allocation that may help you achieve your retirement accumulation goals.

Real-life illustration

We received an impassioned call from a long-time client, Melissa, wanting to know how soon she could walk away from her high-stress but lucrative job. She knew she had not yet achieved her “number” of a minimum of $4M before retiring.

Step one, in response to Melissa’s interest in moving her retirement date forward, was to compare her stated retirement income goal of $15,000/month to the amount of income she might withdraw annually from her portfolio if she stopped working right now. It would mean a retirement “pay cut,” complete with a change in her style of living.

Step two was to look at her retirement savings plan. Melissa decided she was not interested in diminishing her lifestyle in the years ahead; that meant continuing to work for now but preparing to retire at an earlier date than previously planned. To do this, she would have to boost her savings for the next several years. This savings increase would support her aim to achieve her goal of $4M sooner than originally planned.

Step three was to evaluate her portfolio asset allocation. For instance, if she was willing to assume more risk—in tandem with increasing her savings—she might achieve her retirement portfolio goal in less time.

You, too, like Melissa, can pursue and preserve your middle-class millionaire status by honoring The Magic Three. Our Entrust team is ready to help you.

Reach out and schedule a meeting today: or 610-687-3515.

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