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How to save $1 Million if you’re 25, 35, 45 or 55.

May 21, 2008

If you’re 25 years-old, how much do you have to save per month to have $1 Million when you retire? What about if you’re 35? Or 45? Or 55?

Well, if you’d like to know the answers to the above questions, check out this cool piece on Kiplingers.com.

The calulations assume that you’ll put these monthly savings in a retirement account that gets at least an 8% return. That’s a pretty fair assumption.

But the big question is: How much do you have to save per month?

Well, the answer is $671.

But I won’t tell you what age that starts at. For that, you’ll have to check out the article.

Written by Bill · Filed Under Retirement 

Comments

One Response to “How to save $1 Million if you’re 25, 35, 45 or 55.”

  1. Dan on May 22nd, 2008 12:18 am

    That’s all I got to save? I can do that. But how am I going to get 8 percent in this market? That’s what I really need to know. Good post. Keep posting.

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