It's easier than you think to retire rich.
You can be a millionaire by the time you retire! Sound like a get-rich-quick scheme? It's not, says Kay R. Shirley, owner of Atlanta-based investment advisory firm Financial Development Corp. and the author of Live Long & Profit (Dearborn Financial Publishing Inc.).
Shirley demonstrates how you can begin investing in your early 20s and end up with a million dollars by retirement age. The formula is relatively simple: "You need to invest 4 percent of your income in your 20s; 10 percent in your 30s; 12 percent in your 40s and 15 percent between ages 50 and 65 in mutual funds that return 12 percent or more even in bad times," explains Shirley. She also offers strategies for those who want to earn less than $1 million.
In the step-by-step guide, Shirley offers her take on how to pick the right mutual funds and what attributes each should have. In general, she believes funds must have been available for at least 25 years and return 12 percent or more annually after fees. The fund should also be managed by a team or a system as opposed to an individual.
Shirley helps busy entrepreneurs by dividing the book into chapters based on the age of the investor. And she targets all types of savers, from the compulsive to procrastinators.
Financial Development Corp., fax: (404) 261-1703, email@example.com
The Stewart Report, (800) 276-6786, http://www.stewartreport.com