Local financial expert says becoming a millionaire retiree is possible

-
4:34
Racine County calendar fills with music, fishing and food events...
-
4:49
Dora returns with live-action quest on Paramount+
-
2:22
A warm but slightly dry June comes to an end as we look ahead...
-
2:35
Meet CBS 58’s Pet of the Week: Midnight
-
2:35
Natalie’s Everyday Heroes: Camp Caring shows kids how to lend...
-
3:42
‘He had a pure heart’: Fallen MPD Officer Kendall Corder’s...
-
2:20
Before Officer Kendall Corder worked for the Milwaukee Police...
-
1:05
’I believe in the power of this city’: Mayor Johnson kicks...
-
0:53
Mount Pleasant hosts time trials for USA Cycling Masters and...
-
4:57
Fallen Heroes Fund supports families of Milwaukee police officers...
-
1:50
Memorial grows for fallen Officer Corder outside Milwaukee Police...
-
1:27
5 teens charged after fire at former industrial building in Kenosha
MILWAUKEE (CBS 58) -- Those dreaming of retiring with a million dollars in the bank may have a path towards reaching that goal. Brad Allen, a financial expert from Drake and Associates, joined us on Thursday, May 25 to discuss details.
This advice comes right after National Be a Millionaire Day on May 20. While that may be a day with a fun title, it also carries a serious message: with the rising cost of living, a million dollars is what most individuals might need to retire comfortably.
How can people work towards that million-dollar goal? Allen gave a few tips.
First, take any free money from your job. If they match your retirement savings, be sure to max it out. Second, save money automatically from each paycheck. Third, find other ways to make money, like investing in real estate. Lastly, start saving early to take advantage of compound interest, which lets your money grow faster.
More information can be found by visiting DrakeAndAssociates.net.