YOUR RETIREMENT
PLAN, SAVE & MAKE YOUR MONEY LAST
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You've Saved: 0$
To reach one million by age 65 you need to save $5,466 per month.
If You've Saved: $50,000
To reach one million by age 65 you need to save $4,859 per month.
If You've Saved: $100,000
To reach one million by age 65 you need to save $4,253 per month.
If You've Saved: $200,000
To reach one million by age 65 you need to save $3,040 per month.
Successful Savings Strategies
Take advantage of your peak earning years to top off your savings.
Add an extra $5,000 in catch-up contributions to your 401(k) savings and an extra $1,000 to your IRA.
As you near retirement, reallocate your portfolio to 70% stocks and 30% bonds.
Estimate your retirement expenses and your projected income. If you're coming up short, consider working a few more years.
SEE ALSO:
HOW TO SAVE A MILLION AT AGE 25
HOW TO SAVE A MILLION AT AGE 35
HOW TO SAVE A MILLION AT AGE 45
BACK TO:
HOW TO MAKE A MILLION
Have more retirement questions? Find the answers at Jumpstart Your Retirement.
POSTED BY: Bill (July 14, 2008 06:09 PM)
Guess I'll keep playing the market, the puppies and the ponies.
POSTED BY: charles w. coates (July 19, 2008 10:27 AM)
thanks for the information.
POSTED BY: Cindi (August 13, 2008 11:58 AM)
I've been saving for over 20 yrs and I see my investments go down monthly I have been putting $5000 yrly for several of those yrs and I'm not seeing 8% that's really bs with the recent economy. Seems futile to me!
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