(NAPSA)—You wantto retire a millionaire. However, some finan- cial experts are saying having a million dollars saved the day you get the gold watch may not be enough. For a whole swath of middleand upper-middle-class Americans, seven-figure savings may soon be routine. They will also be essential. If you had $25,000 15 years ago, had been reasonably diligent about keeping that money invested and addingto it through a 401(k) plan, and then avoided the worst of the past couple of years, turning the $25,000 into $300,000 would have required returns of only about 60 percent of what the stock market delivered during that time. So how do you take the leap from $300,000 to $1 million? Or maybe just $30,000 to $100,000? What should would-be millionaires worry about? Here are some surprising tips for planning your retirement: To become a millionaire, do nothing. At least, do nothing dif- ferently. Whatever strategy has been working for you so far is a successful one—afterall, it’s been working for you so far—so your best bet may well be to keep doing it. * Don’t diversify. Financial planners say diversification more often lowers your return than raises it. While it’s probably a bad idea to put all your nest egg in one basket, a concentrated fund, or a relatively small portfolio of stocks and notes if you’re investing on your own, is probably a better way to go. Smart investment decisions are key to a comfortable retirement. * You only need five percent to make your money last forever. Paying yourself five percent of a million dollar endowment annually gives you a comfortable $50,000 per year. As long as your return is more than five percent, you can be confident the money will be there. Retirement won’t be cheap. The idea that retirees live on less is predicated on you living out your days in a rocking chair. Senior citizens’ discounts are offered for a reason. And if you’re now making more than the $50,000 mentioned above, you’re going to have to make some lifestyle changes when youretire. * You're never too rich to save. Even if you’ve got $500,000 squirreled away, you’re 40 and you’re planning to work another 20 years, you still need to save. For more information, visit CNBC on MSN Money’s Retirement Planner at http://moneycen tral.msn.com/retire/planner.asp or use the planning tools in the Microsoft Moneysoftware.
