Can the strategy advocated by www.armchairmillionaire.com be considered a foolish idea? You think there is a better approach?

There's nothing wrong with it -- it's pretty basic stuff, actually. Fund your retirement plan. Save money. Take advantage of compounding. Etc.

Their advice stops where TMF is just starting. Their investment choices are limited to index funds, which are a good start, but you're already planning to go farther with F4. IMHO, you'd do better reading up on the Fool's advice. First, read their 13 steps to investing at http://www.fool.com/School/13Steps/13Steps.htm, which already gets you farther than your armchair millionaire's advice. Follow this up with our own TMF Pixy's retirement planning advice at http://www.fool.com/retirement/retirement.htm, and, with an hour or so of reading, you'll be light years ahead of the site you found. IMHO, of course.

Bob H, aka Blues