If your goal is to be a millionaire when you retire, how much should you save and invest each month? It might be less than you think. In this video, Certified Financial Planner® Matt Frankel gives investors a guideline of how much they should aim to put in their retirement accounts, depending on when they're starting.
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How Much Do You Need to Save Each Month to Retire With $1 Million?
While there's no way to accurately predict market performance, here's an overview of how much you should aim to save.
About the Author
Matt Frankel, CFP, is a contributing Motley Fool Personal Finance Expert and Stock Market Analyst covering financial and real estate sectors, plus personal finance. Prior to The Motley Fool, Matt was a high school and collegiate mathematics instructor. He holds a B.S. in Physics from University of South Carolina, an M.S. in Mathematics from Nova Southeastern University, and a graduate certificate in financial planning from Florida State University. Fun fact: Matt won a SABEW award for coverage of the 2017 Tax Cuts and Jobs Act.
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Matthew Frankel is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
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