Investment
What Monthly Investment Do You Need to Save $1 Million by Retirement?
The Answer
$671/month
The Full Picture
To accumulate $1 million by retirement, starting at age 30 with 35 years to invest, you need to save just $671/month at an average 8% return. Wait until age 40 and that monthly requirement nearly triples to $1,820/month. The earlier you start, the cheaper the million.
By the Numbers
Monthly savings needed (age 30)$671
Monthly savings needed (age 40)$1,820
Monthly savings needed (age 50)$5,466
Change the numbers
These numbers are just a scenario. Use our Compound Interest Calculator to see what your specific situation looks like.