I’m Retiring a Multimillionaire: Here Are 3 Money Moves I Didn’t Make, Which Saved Me a Ton
Written by
Cindy Lamothe
Edited by
Zuri Anderson
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Most people think becoming a multimillionaire is about one lucky break or a flashy investment win. In reality, it’s usually the result of a handful of decisions made quietly, consistently and often years before the payoff shows up.
The path to retiring wealthy isn’t mysterious — it’s shaped by the choices you make along the way. Michelle Goth, creator of Blackberry Babe, is one such example.
“I am a multimillionaire on track to retire before 50,” she said.
GOBankingRates spoke with Goth to discuss her most important financial decisions and how they led her to lifelong financial security.
Pay Yourself First — Early
Goth committed to the “paying yourself first” mindset, which turns saving from a goal into a system. By committing to a percentage early on, investing becomes nonnegotiable — it happens before spending ever gets a say. That single decision removes a lot of day-to-day friction and guesswork around money.
“Contributing 10% or more of my income to my 401(k) beginning at the age of 21. I pay myself first, then figure out how to live on what’s left,” she said.
What makes this approach so powerful is its simplicity. You adjust your lifestyle to fit what remains, not the other way around. Over time, that constraint encourages smarter choices and keeps spending in check, even as income grows.
Starting at 21 gives those contributions a huge advantage: time.
Years of compounding do far more work than larger contributions made later. The result isn’t just a healthier retirement account — it’s the quiet comfort of knowing your future is being funded automatically, month after month.
Avoid the Car Payment Trap
“I have always driven good quality, used cars,” Goth noted. “My current car is 11 years old, and I will drive it until it dies. Not having car payments frees up so much space in your cash flow.”
Choosing quality used cars isn’t just about frugality — it’s about freedom. Every month without a car payment is money that can go toward investments, savings or experiences instead of sitting in a loan.
Over time, those payments — or the lack of them — add up to a significant financial advantage.
Get a Trusted Guide Sooner, Not Later
“Hire a financial advisor who is also a fiduciary,” Goth advised. “This means they are ethically bound to only provide advice that serves your best interests, even if it makes them less money. Don’t wait until you’re nearing retirement to hire one — the earlier, the better.”
Having a fiduciary advisor early on changes the way you approach money. They can help you build a solid foundation, spot opportunities and avoid costly mistakes before they snowball.
Waiting until retirement to get guidance often means playing catch-up, whereas starting early gives your strategy time to grow and compound — just like your investments.
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