Two habits that lead to successful retirement

  • Stay focused: If you want to be a millionaire by the time you retire, you have to maintain a millionaire mindset, says Chris Hogan (File photograph)

    Stay focused: If you want to be a millionaire by the time you retire, you have to maintain a millionaire mindset, says Chris Hogan (File photograph)

What do you picture when you hear the word retirement?

You might have a vague plan of travelling around the country visiting grandkids. Or maybe you long for the day when you’ve saved up enough money to quit a job you hate. Some of you might feel anxious because you’re not prepared. Now, hear me out: it’s never too late to start saving for retirement. And if you feel behind, don’t panic! Getting ready for retirement will take planning and sacrifice, but you can do it.

To get you started, here are the two most important habits you can form as you plan for your dream retirement.

Dream in high definition

If you haven’t already, the first step is to schedule some time to dream. Yes, you heard me. I want you to daydream. And if you already have a vision for retirement, this is a great time to check in on those dreams.

Retirement is about so much more than math — it’s about enjoying the things that make you come alive. Do you want to travel? Do you want to spend time with the love of your life, your children and grandchildren? Or do you finally want to start that non-profit you’ve had on your mind? Be specific! In fact, I want you to know the exact dollar amount you’ll need. I have a free tool on my website called the Retire Inspired Quotient (R: IQ) that will determine the amount of money you’ll need for your dream retirement.

Make a plan, and stick to it

A dream without a plan is simply a wish. Your retirement depends 100 per cent on what you do today. In my book Everyday Millionaires, we explore the research from the largest millionaire study ever conducted — we interviewed over 10,000 of them. And we found that 79 per cent of millionaires reached millionaire status by investing in their employer-sponsored retirement plans, building wealth over time.

If you want to be a millionaire by the time you retire, you have to maintain a millionaire mindset. Stay allergic to debt and live on less than you make. Also, get help from a financial expert to simplify your investments and keep them on track. But remember: never go on autopilot! Stay focused and engaged with the process.

Keep in mind that your retirement is bigger than you. It’s about the people you love and the purpose you have on this earth. It’s about taking control of your future and leaving a legacy.

I’ll sum it up here in the wise words of Mama Hogan: “If it’s meant to be, it’s up to me.” Remember, you can’t delegate your dreams. Take charge, work hard, and have fun.

Chris Hogan is a two-time #1 national bestselling author, financial expert and host of The Chris Hogan Show. For more than a decade, Hogan has served at Ramsey Solutions, equipping and challenging people to take control of their money and reach their financial goals. His second book, Everyday Millionaires: How Ordinary People Built Extraordinary Wealth — And How You Can, Too released in January 2019. You can follow Chris Hogan on Twitter and Instagram at @ChrisHogan360 and online at or

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Published Oct 19, 2019 at 8:00 am (Updated Oct 18, 2019 at 6:18 pm)

Two habits that lead to successful retirement

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