The third lesson from The Wealthy Barber is to make sure to take care of retirement. This is separate from paying yourself first. This is making sure that you’re able to afford your desired lifetime upon retirement.
David Chilton says it best in this quote:
Your years in retirement should be among the best years of your life, so you owe it to yourself to do everything possible now, without crippling your current standard of living, to enable you to enjoy them to the fullest.”
Chilton advises using IRAs, CDs, and 401k as vehicles in the financial planning for a wealthy retirement.