How much you'll need to invest each month to retire with $2 million at age 20, 30, 40 and beyond investinyou (In partnership with acorns.)
And for most of us, it is: A typical American household only has about $9,000 in savings.
But what if you could retire with $2 million by the time you were 67? Well, the good news is that it's possible with persistent monthly saving, and you can get there no matter your age. Reaching that milestone, however, takes determination, especially if you don't start until later in life. Personal finance site NerdWallet crunched the numbers, broken down by age group, to demonstrate how much you'll need to stash away on a month-to-month basis.
First, let's go over how they got there. The math assumes you are starting with no money in savings, that your investments will earn 6 percent in annually, and that you retire at 67. Saving programs to help you reach that mark could include your employer's 401, which is a tax-advantaged retirement savings account, or a Roth IRA or traditional IRA. Investment options include low-cost index funds.More from Invest in You:
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Box Office: 'Angry Birds Movie 2' Opens in Fifth Place With $2.6MThe animated pic took flight Tuesday ahead of the weekend in hopes of luring kids who haven't yet returned to school.
Baca lebih lajut »
Could tech be in for a 15% drop? One options trader is betting $2 million on itTech is under pressure, and one options trader is betting $2 million that the pain is just beginning
Baca lebih lajut »
‘Angry Birds Movie 2’ Hatching $2.5M Today Ahead Of Another Crowded, Downer August Weekend – Box OfficeSimilar to last weekend before everybody rushes back to school, studios and distributors are trying to grab as much cash as they can. Today, for example, in the wake of Paramount opening Dora and t…
Baca lebih lajut »
Could tech be in for a 15% drop? One options trader is betting $2 million on itTech is under pressure, and one options trader is betting $2 million that the pain is just beginning
Baca lebih lajut »
10 Ways Machine Learning Is Revolutionizing Manufacturing In 2019The leading growth strategy for manufacturers in 2019 is improving shop floor productivity by investing in machine learning platforms that deliver the insights needed to improve product quality and production yields.
Baca lebih lajut »