The Retire on Rewards System
That's it. Simple enough and it beats saving money every paycheck that you could be spending on living big. Follow my progress on as I (slowly) march toward $1 million.
Questions? Comments? Tweet me @RetireOnRewards.
- Set up an IRA (preferably a Roth IRA) and a taxable trading account with a discount brokerage. I use Schwab and Fidelity. This was my selection process.
- Accumulate reward points via credit card spend, hotel stays and airline flights. Here's my guide to accumulating points.
- Redeem points from your reward accounts. Deposit the cash value of those rewards into the taxable brokerage account. At the end of the year, transfer that money into the IRA. Here's my strategy for maximizing redemption and how I track rewards.
- Invest the money in your IRA into low cost ETFs that track the broad market. Here is my investing philosophy, strategy and tactics for achieving safe, consistent returns with minimal effort.
- Retire with $1 million dollars!
That's it. Simple enough and it beats saving money every paycheck that you could be spending on living big. Follow my progress on as I (slowly) march toward $1 million.
Questions? Comments? Tweet me @RetireOnRewards.