No savings at 50? These tips could help you make a million and retire rich

first_img Enter Your Email Address I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Our 6 ‘Best Buys Now’ Shares No savings at 50? These tips could help you make a million and retire rich Having reached my 50s some time ago, I can tell you it’s a younger age than I imagined it to be when in my 20s!I used to believe 50-year-olds were knocking on the door of old age, but now realise they’ve ‘barely entered’ middle age. Luckily for me, I can still pursue strenuous activities such as backpacking, cycling, swimming and many others, just like I used to. And many people my age are in the same boat.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Put your energy to workIn short, we’ve all got bags of energy (at least after that essential afternoon nap every day). And with all that energy, I think you can do some great things to build up your finances so you can potentially make a million and retire wealthy.I’ll cut to the chase. I reckon the best way to compound your money is by investing and trading shares on the stock market. In fact, I like it so much, I’m building my own fortune that way. But to make your gains really take off, you’ve got to put some work in. And I’d start by getting interested in investing strategy and reading books about investing.To me, the process of investing started off as an absorbing hobby and I ended up building my working life around it. But you can make great progress by treating it as a serious, time-consuming hobby that you run alongside some other career or job.When you start diving into books about investing — often written by investors who have done very well themselves in the markets — you’ll notice that much of the advice conflicts. One guru will say one thing, and the next guru will say the opposite. But, with experience over time, and with the more reading you get under your belt, you’ll start to hone a personal strategy that suits your temperament.Eclectic parts make a greater and personal wholeIf my experience is typical, you’ll end up taking bits of advice from many different investors who’ve written books. As I said, their strategies will likely be totally different from each other’s, but somehow, you’ll make it all work for you. And I reckon the best way to accelerate the process of discovering what exactly it is that works well for you, is to be active in the markets the entire time you’re learning.And the learning never stops, by the way, not if you are determined to achieve out-performance. Here’s a list of some of the books that helped me the most:The Intelligent Investor by Benjamin GrahamOne Up on Wall Street and Beating the Street by Peter LynchBeyond the Zulu Principle by Jim SlaterTaming the Lion by Richard FarleighHow to Make a Million, Slowly by John LeeFree Capital by Guy ThomasBuffettology by Mary BuffettThat’s not an exhaustive list, by any means, but these books really did help me to invest better. Good luck in your own investing journey and your quest for a million before retirement. Simply click below to discover how you can take advantage of this.center_img “This Stock Could Be Like Buying Amazon in 1997” Kevin Godbold has no position in any share mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Image source: Getty Images. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Kevin Godbold | Monday, 17th February, 2020 See all posts by Kevin Godboldlast_img read more