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About Retirement Calculator, Inc.

CBS The Early Show

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How to Become a Multibillionaire

How to Become a Multibillionaire

If you want to know how to become a multibillionaire, hopefully you recognize that there is going to be a great deal of hard work involved. There isn't any sure fire, well-documented how to become a multibillionaire guide and, well, not everyone is going to be the next Bill Gates, but that's okay: it's good to have goals and it is even better to be willing to make a commitment to reaching them. Still, there is a great deal involved in becoming a multibillionaire - for starters, you have to work your way up, first to millionaire, then to multimillionaire, then billionaire.

Of course, by then chances are pretty good that you've worked out a system and can write your own how to become a multibillionaire guide (which can only help when you're working towards achieving a goal), so rather than focusing on that, let's keep it simple.

In order to learn how to become a multibillionaire, you need to start out with an honest assessment of where you are. You need to know what your savings accounts look like, what your projected business path is going to be, and that you are willing to go out on a ledge when it comes to making investments. If you are unwilling to take big risks in order to achieve your goal, you may want to rethink things a bit.

Low risk investments are never going to have the huge payoffs of those with a high degree of risk. Saving or investing one or two or even five percent of your income - especially if your income is under $50,000 - is probably not going to help you to become a multibillionaire. Again, it's about two things: commitment and risk. Fortunately there are a couple of things available that can help you, both while you are first getting started on learning how to become a multibillionaire and once you have started down the path.

The first tool is the free retirement calculator that you can download from this page. With it, you will be able to track your savings accounts and your investments so that you can be sure that they are performing well and working to help you get closer to your goal. More importantly, you will be able to use it to help to research other accounts that may have a higher rate of return as well as other stocks that you are thinking about making an investment in.

Tracking what you have done and looking into the future of your investments is only a small part of the big picture; along with it, you're going to need to have great advice. That's why, when you download the free retirement calculator, your contact information will be forwarded to a financial advisor in your area who can help you to chart your course. Together, you can consider particular stocks that are projected to take off; you can look at ways of saving that will still give you access to your money when you need it - when a big investment opportunity comes along - and help you to avoid having to pay fees for early withdrawals from your retirement accounts.

The process of learning how to become a multibillionaire is not going to be easy; you don't just wake up one morning with that kind of money. But commitment, hard work, smart investments, good advice and knowing when to act can all help you to get there.

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Do You Know the Answers to These Important Retirement Questions?

• Are you retired or thinking about retiring?
• Do you have enough money to comfortably live throughout your retirement years?
• Would you like FREE face to face advice or retirement consulting from a trusted local financial advisor?
• Are you looking for help to achieve your long-term financial goals?
• Would you like to learn more about Annuities, 401's, Life Insurance and Long Term Care?

Would you like to retire, but aren't sure you can?

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Everyone who has thought about retirement has asked themselves these and other questions. Now you can get ALL the answers in Retire in a Weekend! This short, simple, humorous, easy-to-understand book answers the 10 most popular questions and addresses the 5 biggest concerns people have about retiring! So stop asking yourself IF you can retire ... with Retire in a Weekend! you'll learn HOW to actually do it.

For a limited time, purchase Retire In a Weekend for $29.95 and receive a free download of Retirement Calculator Premium.

Analysis of the Economics of Early Social Security Withdrawal

Robert J. Phillips
Chief Retirement Consultant

Deciding whether or not to take the early withdrawal of social security at age 62 can be difficult. If you need this income at 62 to fund your retirement the decision is fairly straightforward. Take it early! On the other hand, if you have another source of revenue to fund your retirement your decision will be primarily based on lifestyle, health and investment preferences.

Several factors can affect your decision. First is your life expectancy. If you are in good health and have a family history of living beyond 90 then waiting for full benefits may be best. Two other factors impact this decision. First and most important is the value of money or your expected return from your investments. If you are using other investments instead of social security to fund your retirement you should use the rate of return of these investments as your value of money. There is another way to look at the value of money. If you do not require the social security money to live, you can invest the distributions for the future. The rate of return of this investment is your value of money. If your investments will make larger returns such as stocks this would favor taking the early withdrawal.

The last factor impacting your decision is inflation. Social security includes an annual adjustment based on inflation. You cannot control this variable but you should be aware of its impact. If future inflation is significant it will favor a later full distribution

FREE Social Security Calculator:

We developed a calculator to assist in analyzing the impact of taking early benefits at age 62 or waiting for full benefits at age 66 to 67 depending on the year you were born...If you were born in 1960 or later your full benefits will begin at age 67 and your reduction for early benefits at age 62 will be 30%. If you were born between 1946 and 1960 your full benefits begin as early as age 66. We have included a chart that summarizes information.

To use the calculator you need to input your year of birth. You also need to input a value of money up to 10% and a projected inflation adjustment. The calculator analyzes income generated over time from both the early and full benefit investments. It calculates the age at which full social security will catch up and breakeven with the early withdrawal. If you were born before 1960 your breakeven age will be impacted by the year you were born. An early breakeven age favors waiting for full benefits.

The social security calculator is not the final answer whether to take an early withdrawal but it does give you additional economic data to assist in that decision. Ultimately you must balance income, investments and lifestyle to optimize your enjoyment during your retirement years.