How to Build $1 Million by Age 55

Suppose you wanted to build a retirement fund of $1 million by the time you’re 55. If you were starting from scratch, how much must you save each month?

monthly-amount-to-save

It goes without saying that the two important factors are the rate of return on your money, and the time it has to grow.

(Note that the annual growth rates used in the above table are net - i.e. they are after any investment charges or costs of any savings product.)

To see more detail about how your savings might grow, take a look at the following:


pdf-icon-60Retirement contribution calculator table (6%)


pdf-icon-60Retirement contribution calculator table (7%)


pdf-icon-60Retirement contribution calculator table (8%)

Popular Posts

Understanding Compound and Annualised Growth

Mobile Phone Screens Are Getting SMALLER!

How to Read a Fund Fact-Sheet

How to Manage Currency Risk in your Investment Portfolio

What Can Bitcoin Teach Us About Retirement Planning?

Dollar Cost Averaging

Should UK Expats Pay National Insurance Contributions?

British Expat? Here are the Huge UK Tax Benefits of an Offshore Investment Plan...

Stroke Victim Trapped in UAE Four YEARS Because of Debts