
Want to Retire a Millionaire? Here are Three Investing Tips You Should Live by Today

Retiring with millions in your savings and investment accounts is a dream that not many would get to live. That shouldn’t deter you from shooting for the stars though.
Take inspiration from writer Eric Rosenberg’s grandfather, a retired business school professor who put his learnings to work and retired with a portfolio balance of over $1 million.
Here are three things you can do today to boost your long-term investment results.
Do Your Research

Arhelaos/Shutterstock: Benjamin Graham’s ‘The Intelligent Investor’ remains to be one of the most popular guides on investing until today
Rosenberg learned from his grandfather how important it is to understand the companies behind the stocks he buys. Thus, he wouldn’t pick stocks based on just market trends.
While prices tend to go up and down often, it is a company’s total intrinsic value that determines its stock’s value. His grandfather made a habit of studying a company’s revenue and profit trends before buying into it.
The good news is that you don’t need a degree in business to do this, too. As long as you understand how a certain company has been performing or how it makes money, you can make informed decisions about your investment portfolio.
Monitor Your Investments

Bro Crock/Shutterstock: You can now easily check on your portfolio through your broker’s mobile app
Rosenberg shares memories of coming with grandfather to the bank so he could look up stock prices and track his portfolio’s performance.
While the Internet has made this task much easier these days, the thought behind it remains the same. Knowing the value of your holdings would help you make decisions about which stocks you might want to let go and which ones you need to hold onto.
This applies even if you’re practicing the buy and hold strategy as some stocks’ performance justify selling them earlier than you initially planned.
Keep Track of Your Spending

Rawpixel.com/Shutterstock: Being mindful of your spending would give you more money to invest
Investing more increases the returns you’ll get in the long run. Rosenberg’s grandfather certainly knew this and made it a mission to spend every dollar thoughtfully.
Even though he had the money to splurge on material things, he chose to build his wealth through investing his extra resources.
He encouraged Rosenberg to do the same by giving him an accounting ledger notebook when he was eight years old. Using the notebook, he taught the author to keep track of the money he made and spent, a lesson Rosenberg found handy when he started building his portfolio, too.
While not all of us are as lucky as the author to have a finance-savvy grandfather, you can take these investing lessons from Rosenberg’s grandfather and get on track to retire a millionaire someday.
More in Legal Advice
-
Highlighting Your Transferable Skills- The Sure-Fire Way to Improve Your Resume
Transferable skills are one’s capabilities beyond the qualifications and experience required for the job. For instance, the ability to work harmoniously...
October 23, 2020 -
Naomi Campbell is Still Battling it Out with an Ex-Boyfriend Years after Their Break up–Here’s Why
Naomi Campbell is no stranger to controversy whether it has something to do with her professional or personal life. And it...
October 22, 2020 -
The Retiree’s Guide to Getting and Recovering from a Divorce Later in Life
Divorce rates among couples who are in the 60 and over age group have notably risen in recent years. This is...
October 20, 2020 -
The First GMIT Virtual Career Fair- Why You Need to Invest Your Time in Career Fairs if You Want to Land a Job Anytime Soon
If you’re a college student or a recent graduate, you must be aware of all the career fairs taking place around...
October 14, 2020 -
Hitting Your Diamond Wedding Anniversary but Choosing to Part Ways? Follow These Tips For a Smooth Transition Into Single Life
Divorces tend to be messy affairs. They can be overwhelming both mentally and financially. To separate from a person you had...
October 13, 2020 -
Haven’t Received Your First Stimulus Check Yet? Here’s How You Can Find Out Why There’s a Holdup
Stimulus checks are checks sent to taxpayers to stimulate a sluggish economy. The U.S government provides some money to taxpayers to...
October 5, 2020 -
Are You a Lawyer Just Starting Out Their Career? Here Are a Few Expert Tips on How To Get Your Career Off to a Good Start
Your law degree has finally been completed. You’ve persevered through the daunting legal training. Your name is now signed on the...
October 5, 2020 -
Divorced or Separated? Know These Genius Hacks to Make Co-Parenting Easier and Better
Just imagine: you and your partner used to be head over heels with each other. Now, both of you want out...
September 30, 2020 -
Don’t Take it to The Court Immediately! Simple Tips to Prevent Your Marriage from Heading to Divorceville
When sparks no longer fly, married couples head to Splitsville. Divorce isn’t always expensive but depending on how you end things...
September 25, 2020