"Retire with $2 Million: Monthly Savings Goals and Milestones"

Only about half of workers earning $100,000 or more feel they're saving enough for retirement, with the median retirement account balance for those earning between $100,000 and $149,000 at $104,155. Americans believe they'll need around $1.8 million saved by retirement. CNBC calculated how much you need to save each month if you earn $150,000 and want to retire with $2 million at 67, based on starting ages of 25, 30, and 35. The calculations range from $1,979 to $258 per month for a 25-year-old, $2,463 to $429 per month for a 30-year-old, and $3,108 to $718 per month for a 35-year-old. It's important to be aware of contribution and income limits for retirement accounts, and financial experts recommend a savings rate of 15% annually.
Reading Insights
0
1
3 min
vs 4 min read
82%
672 → 124 words
Want the full story? Read the original article
Read on CNBC