Canada Saskatchewan’s newest millionaire eyes early retirement

06:52  09 august  2018
06:52  09 august  2018 Source:   globalnews.ca

Here's how much you have to save per paycheck to be a millionaire by 67

  Here's how much you have to save per paycheck to be a millionaire by 67 If you start saving in your 20s, it may be less than you think.To show you just how attainable the dream of becoming a millionaire could be, personal finance site NerdWallet created a chart showing the percentage of each biweekly paycheck you'd need to set aside to have $1 million saved by the time you're 67. As you'll see below, you may not have to set aside as much as you think — if you start early, that is, since compound interest can cause your wealth to snowball over time.

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Almost anyone can become a millionaire if they make a commitment to save early in their career and stick with it over several decades. Her best retirement tips are collected in the new book “Pensionless: The 10-Step Solution for a Stress-Free Retirement ”.

Sandra Lee Frank is eyeing an early retirement after winning the $1 million guaranteed prize in the July 28 Lotto 6-49 draw.© Tyler Schroeder / Global News Sandra Lee Frank is eyeing an early retirement after winning the $1 million guaranteed prize in the July 28 Lotto 6-49 draw.

Saskatchewan’s newest millionaire said she will be taking her time deciding what to do with her windfall, but does have one goal already.

“I was looking at being able to retire in eight or nine years,” Sandra Lee Frank said.

“It’s going to be a lot sooner now.”

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It was the first one in the pack, lottery officials announced. After taxes, the net prize is ,130,000. The new millionaire plans to take early retirement from his bottle manufacturing job and may take time off during the holidays.

Learn from our experience. With time, and a bit of luck, someday you can also be a 401(k) millionaire ! Fritz is a commodity trader with a large multinational corporation, with his eyes on achieving an early retirement in 2018.

Frank, who is from North Battleford, won the $1 million guaranteed prize in the July 28 Lotto 6-49 draw, but wasn’t sure at first she had won that big.

“I scanned it at the ticket checker in the store, and I saw a one with a bunch of zeroes,” Frank said.

“I couldn’t tell right away how much it was. I was pretty sure it was more than $10,000, but I was pretty flustered.

“I just put the ticket right back in my purse.”

Frank went to her mother’s for a coffee and visit, but said her mind was elsewhere and she left early.

“I wanted to get home to tell my husband,” she said, calling the win “surreal.”

“You always hope for it, but you never think in a million years it will ever happen to you.”

Frank is the eighth person in Saskatchewan this year to claim at least a million dollars in a lottery draw – a number that is expected to rise with three unclaimed tickets sold in the province.

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29 Comments on " Retirement Millionaire ". Notify of. new follow-up comments new replies to my comments. I’ve gotten more from the free Gumshoe stuff than anything. OK. I will join and pay (after I get my money back from the Retirement Millionaire !)

Retire Early Lifestyle Retirement ; like your parents, but way cooler. I thoroughly enjoyed your personal story and it along with the other stories, opened my eyes to the range of ideas on possible retirement lifestyles.

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Four $1M winning lottery tickets unclaimed in Saskatchewan

Two of the prizes are $1 million Lotto 6-49 tickets – one from the May 16 draw and the other from the June 16 draw – that were sold somewhere in Saskatchewan, but not Regina or Saskatoon.

The other unclaimed ticket, sold in Saskatoon, is for $1 million in the June 8 Western Max draw.

Winners have one year from the date of the draw to claim their prize.

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