“HOW DO WE GET from here to retirement? Amid the financial markets’ daily turmoil, it might seem like one big crapshoot.”
“But in truth, navigating this journey is pretty straightforward, because there are just five key variables—our time horizon, current nest egg, savings rate, target nest egg and investment return.”
Jonathan Clements (https://humbledollar.com/)provides solid, easy to implement strategies for retirement investing for people at various ages. Sign up for his weekly emails and read his Humble Dollar blog.
Starting with this example he illustrates how one can achieve a secure retirement based on current age: “We begin investing for retirement at age 25 with a mix of 60% stocks and 40% bonds. We sock away a little over $15,000 a year, with that sum rising each year with inflation. If all goes well, our nest egg should—in today’s dollars—be worth some $169,000 at age 35, $384,000 at age 45, $655,000 at 55 and our coveted $1 million at 65.”
OK. So you’re not longer age 25. Check out his variations based on your current age.
Source: Financial Planning for Women