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investing / pre-retirement; retirement

How much to invest to have $1 million by retirement

Start early to attain your goal.

Starting at age 20:
  • Assuming a 6% return, compounded monthly, you should aim to invest $364 a month toward retirement to reach $1 million in savings by age 65.
Starting at age 30:
  • Assuming a 6% return, compounded monthly, you should aim to invest $704 a month toward retirement to reach $1 million in savings by age 65.
Starting at age 40:
  • Assuming a 6% return, compounded monthly, you should aim to invest $1,444 a month toward retirement to reach $1 million in savings by age 65.
Starting at age 50:
  • Assuming a 6% return, compounded monthly, you should aim to invest $3,439 a month toward retirement to reach $1 million in savings by age 65.

    How to retire a millionaire

Invest wisely. Check out other blog posts on index investing and investing.
Source: Financial Planning for Women