How many of you hope to retire as a millionaire?
Well, if you are reading this, chances are that you do aspire to become a millionaire and retire in comfort. You really wish that you would not have to worry about money at a time that you may be unable to work, if needed. I have discussed how simple money saving techniques like owning just one car instead of two or stretching the life of your cell phone can add up to tens of thousands of dollars over time, but there is one thing that has the most profound impact on you retiring as a millionaire but so many people don't do it.
Get married but have the simplest wedding
If you were to ask me, well, in addition to saving diligently through 401(k) and IRA, investing extra money in another brokerage account, owning a home, and living modestly, you can add one big contributor: my wife of over 20 years and I simply went to an office in Las Vegas and walked out with our marriage license. We had a nice meal later that night. And by the way, that trip to the Sin City was paid for by our employers since both of us were attending trade shows.
According to some data that I looked up, the average cost of a wedding is $28,000 and most people are marrying in their early 30s. Now look at the calculation below that you marry at 32 and then retire at 70. Instead of blowing those twenty eight grands at a party, dress, flowers, cake, hair, makeup, drinks, etc., you simply invested it in the stock market -- and this is the best part -- never saved or invested another penny in your whole life, you will retire a millionaire.
So is it really worth pretending to be a princess and prince for a day?
Most likely not. My wife and I are a happy couple and never regret that we did not have a stupid wedding. Most guests forget soon after that they came to your wedding or that you looked great or the cake was delicious. However, you will be guaranteed to retire as a millionaire as long as you get this idea out of your head that a dreamy wedding will make you happy.