Here's how much you will need to save to retire with $1 million if you're making $65,000 a year
Publishing timestamp: 2023-09-29 08:00:02
Summary
The article discusses how much someone earning $65,000 per year would need to save in order to reach a retirement goal of $1 million. It mentions that financial advisors typically recommend saving 10-15% of your salary for retirement, but the percentage needed to reach $1 million will vary depending on the age at which you start investing. The article provides calculations and assumptions for reaching this goal, but advises readers to consider other factors such as inflation, taxes, and pay increases.
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Keywords: retiree finances, personal finance, millennials, income tax, business news, labor economy, federal reserve system, generation y, interest rate spread, investment strategy, retired, retirees, retirement planning, family finances, fixed income funds, nerdwallet inc, video first, interest rates, personnel, personal saving, personal income,
Source: https://www.cnbc.com/2023/09/29/how-to-retire-with-1-million-if-you-make-65000-a-year.html