Here's how much you need to save every month to earn $30,000 per year in interest for retirement
Publishing timestamp: 2023-02-14 07:58:58
Summary
Planning for retirement can be daunting, but if you start now you can have enough money to live comfortably. CNBC crunched the numbers and found that if you start saving now and retire at 65, you can have $30000 a year in retirement without taking a bite out of your principal. Financial advisors recommend a mix of investments in your portfolio that gradually become more conservative as you approach retirement. We assume a conservative annual 6% return when you are saving and a 3% rate during retirement.
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Keywords: business news, nerdwallet inc, generation y, millennials, personal saving, exchange-traded funds, retirement planning, investment strategy, personal finance,