Hello and welcome to my review of Dr. David Eifrig’s Retirement Millionaire.
Retirement Millionaire is an investment subscription service headed up by Dr. Eifrig of Stansberry Research, that is all about helping subscribers create a prosperous retirement.
As a subscriber, you get monthly insights and stock ideas from Dr. Eifrig which, according to the website, could dramatically change your retirement and help you live a millionaire lifestyle.
Is it the real deal?
I wouldn’t expect to become a millionaire just by joining and following Dr. Eifrig’s stock picks, but this is a great service and it’s run by the best in the business. So it’s well worth checking out, especially if you’re looking for a more conservative investing strategy.
What Is Retirement Millionaire?
Retirement Millionaire is a monthly advisory service that’s all about helping subscribers create the richest retirement possible, and live a “millionaire lifestyle” on less money.
The service costs $199 per year and is headed up by Dr. David Eifrig (AKA Doc) of Stansberry Research, who’s an expert trader and investor of many years.
Anyone can benefit from the service, but Doc’s main focus is on helping subscribers of Retirement Millionaire create a prosperous retirement. So it’s more conservative than some of the other services I’ve reviewed over the years.
In any case, Doc shares his unique investing strategies, market insights and stock picks via his newsletter which is sent out to subscribers via email each month.
You don’t just get a bunch of stock picks though.
As a subscriber, Dr. David Eifrig shares his research and analysis of each stock pick with you in the newsletters each month. That way, you know why he’s recommending the stocks he is and can feel more confident about the decisions you make as a result.
For the most part, Doc recommends “buy and hold” stocks you can hold for two or more years and cites example of some of his winning picks over the years. Such as 3M Co., Walgreens, Medtronic and other well-established companies.
So, even though all types of investing are risky, this is not about taking wild gambles on “overlooked” stocks or short-term trading – it’s about strategic, longer term investing.
It doesn’t cost much to get started either.
All you really need is the $199 joining fee and $1,000 or so in capital to get started with. So the team at Stansberry Research have made this service available for virtually everyone.
How Does Retirement Millionaire Work?
The basic idea behind Retirement Millionaire is to signup to the service on the Stansberry Research website for $199, and use what you learn in the monthly newsletters to create a lucrative stock portfolio over time.
It’s not a get rich quick thing though.
The idea is to educate yourself through the monthly newsletters, and decide which stocks you like and which you don’t. From there, you can setup your own brokerage account and purchase the stocks you think are worth investing in.
Of course, you could just buy everything Doc recommends.
And I’m sure some people do that. But I think it’s wise to do your due diligence, regardless of who’s recommending a given stock, and make your own decisions.
That way, you can be confident about where you’re putting your money, and withstand the ups and downs that are common in the market with a much higher degree of conviction.
How much money can you make? Well, the truth is, nobody can promise you’ll make any amount of money at all. Because there are just too many variables.
How much you make from a service like Retirement Millionaire depends on a range of factors such as the individual stock, when you buy it, how many shares you buy, how long you hold it, market forces… and many other variables.
So, put simply, nothing is guranteed.
At the very least though, you’re likely going to learn a thing or two from Dr. David Eifrig, he’s an investing guru with many years experience, and he shares a lot of insight in the monthly newsletters. So even if the stock plays aren’t as lucrative as you’d hoped, I still think it’s worth checking out if you want to learn how to become a better investor.
Who’s Dr. David Eifrig – Real Trading Guru?
Dr. David Eifrig is the man behind Retirement Millionaire, and other services at Stansberry Research, such as Retirement Trader.
Doc started his career by obtaining an MBA from the Kellogg School of Management, where he majored in international business and finance. And soon after, started working as an elite investment trader for Goldman Sachs, as well as other financial institutions.
According to the Stansberry Research website, he grew tired of the greed and hypocrisy of Wall Street, so he decided to become a medical doctor. And during this time he helped start a small biotech company worth over $100 million.
In 2008, he decided to use his knowledge to help people take control of their wealth, and joined Stansberry Research, where he’s the editor of some of their most popular investment advisory services. Such as Retirement Millionaire and Retirement Millionaire.
He’s also published several popular, well-rated Amazon books.
So, long story short, he’s definitely a real investing guru. Not only does he have a remarkable and diverse background, but he shares a great deal of value with his followers.
Is Retirement Millionaire Worth It?
Retirement Millionaire is worth checking out if you’re interested in investing in long-term, buy and hold, stocks with the potential to help you create a more prosperous retirement.
It’s geared towards beginner investors and those who are either in or approaching retirement, but it would suit virtually anyone who likes the idea of value investing.
And at $199 per year, it’s quite an affordable service.
Especially considering the perks you get as a member such as the monthly newsletters, access to the members website, model portfolio, regular updates on the portfolio and so forth.
That said, I personally wouldn’t join expecting you’ll become a millionaire just by following Dr. Eifrig’s stock picks. Because even though it’s a great service, nobody can predict the future. So in reality anything could happen once you invest.
Of course, both Dr. David Eifrig and his service has an excellent track record of success, so you have every chance to be successful with it. I just think it’s important to set realistic expectations and carefully consider the risks of joining services like this before diving in.