4 Sacrifices Super Savers Make on the Road to Getting Rich
Most of us occasionally — or even frequently — dream of getting rich. But “super savers” take the next step, turning such visions into reality.
Who are these folks? Principal Financial Group defines super savers as those who do one of the following:
Save at least 90% of the maximum allowed in retirement plans each year
Defer at least 15% of their salary into retirement accounts
Super savers are the famed “millionaires next door” who quietly and consistently build their nest eggs year after year. One day, they wake up rich.
While there is no single characteristic that defines every super saver, they tend to share some key traits — especially in terms of making sacrifices today so they can enjoy a brighter and wealthier tomorrow, according to Principal.
Sponsored: Add $1.7 million to your retirement
A recent Vanguard study revealed a self-managed $500,000 investment grows into an average $1.7 million in 25 years. But under the care of a pro, the average is $3.4 million. That’s an extra $1.7 million!
Maybe that’s why the wealthy use investment pros and why you should too. How? With SmartAsset’s free financial adviser matching tool. In five minutes you’ll have up to three qualified local pros, each legally required to act in your best interests. Most offer free first consultations. What have you got to lose? Click here to check it out right now.