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

How to Read a Fund Fact-Sheet

Investment Outlook For 2018

Tax Free Savings Plans for Australians?

Dollar Cost Averaging

Inflation, Compound Growth, and the Time Value of Money

Warren Buffet on Hamburgers

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

Your First Meeting With A Financial Adviser – What To Expect

UK Inheritance Tax Rules for British Expats - What You Need to Know