Many people think they have to have a entourage of investment advisors and have all of the hot stock picks and a bunch of luck in order to retire rich. In reality, all you need is discipline and hard work to retire rich. It won't happen overnight but if you are consistent with your plan and implement some of the tips I am about to share with you then there is a great chance that you will one day retire to a life of comfort and look back and thank yourself for remaining so discplined. Read on to learn how to retire rich.

1. The most important aspect to becoming rich one day is eliminating any debt that you may be saddled with. If you plan on retiring rich to a comfortable lifestyle then you need to start viewing most types of debt as the black plague. Mind you, there is a such thing as "good debt" but that will be saved for a future article. Make it a plan to eliminate any debt you may have whether its student loans, credit car debt, or a car debt. You cannot progress to the next stages in your plan to retire rich if you are drowning in debt.

2. Next, its important to have an emergency savings for times when emergencies or life unexpected events occur. You want to ideally aim to have 3-6 months worth of living expenses saved up just in case you lose your job or you have to care for a dying relative. In some instances its wiser to have a year's worth of emergency savings or around $5,000-$25,000 saved in a safe or bank account that you don't touch except in extreme emergencies, whichever helps you sleep at night. Although you may be thinking this will be nearly impossible to accomplish, you must make the first two tips the first steps in your plan to retire. There is no way you can save and invest money for retirement if you have a lot of debt or if everytime an emergency occurs, you have to dip into your retirement nest egg or use credit in order to pay for those emergencies. Please take a moment to let these first two steps sink in before reading on.

3. Next, it's imperative that you learn to live below your means. I know you are thinking "This is hard to do. I have to keep up with the Jones." But are the "Jones" going to provide you with a comfortable retirement and pay your bills? Absolutely not! Therefore, you should aim to live below your means, never spend more money than you make in a given year, and to save at least 12-40% of your annual income.

4. Now that you have completed the first three steps, its time to start actually putting your money to work for you and start saving and investing for retirement. The easiest way to start saving for retirement is to open a Roth IRA or traditional IRA (individual retirement account) at a bank and/or if your employer offers a 401k program with a match to start contributing to the plan. These programs are designed to help people save for retirement and offer a excellent opportunity for people wishing to retire rich. Make it a point to max out how much you're allowed to contribute to these accounts each year. The more you save and invest your money, the more it will compound over time and help you amass that much of a bigger nest egg that will help you retire rich.

5. If you want to take it a step farther and amass even more fortunes to help you retire even richer, then make it a point to invest on your own in the stock market. The stock market on average has brought investor the most return on their money for many years. This is one of the most popular investment vehicles the rich use to increase their wealth and to make them even more millions. Therefore you want to own stocks as well. I personally have a online brokerage account at that I use to invest in stocks. I prefer companies that have been around for a long time and pay their shareholders a hefty dividend every year. As of today, I own stocks in McDonald, Altria Group, General Electric, Walmart, Proctor and Gamble, and Johnson and Johnson in my portfolio. I encourage you to read all of the personal finance and investing books and magazines you can before you actually start investing in stocks and other assets.

6. And finally, it's important that if you are going to retire rich that you do all you can to protect your wealth and money. This means having adequate health, car, home, and life insurance. This means having policies that will protect your and your loved one's should you be unable to work or have an untimely death. An annuity may also be another option you should consider if you wish to generate a monthly check even when you stop working and are in retirement. Annuities are a type of investment that if utilized properly, can help ensure you never run out of money in retirement.

In conclusion, I am confident that if you implement the tips mentioned above in your personal finance strategy, that you will without a doubt be able to retire to a life of abundance and wealth in the future. Stay disciplined, live below your means, save and invest as much money as you can, and good luck!