Sam Gives You. Limit Shocks to Your Finances. According to Carlson, many millionaires tend to have stable lifestyles. They rob a portfolio of time and compounding. The average age of millionaires is 60, meaning that they've been investing for about 30 years.
Time is truly an investor's best friend.
Let's say there's a baby on the way in your family. Even if inflation erodes the value in half, the child will still be a millionaire at retirement. Carlson encouraged the audience to buy stock directly from companies. Whatever amount is invested purchases full and fractional shares. He noted that 28 of the 30 stocks in the Dow Jones Industrial Average offer this option.