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The Cost of Procrastination
How much do you have to save to have $1,000,000
at Retirement?
Assuming 7% return, tax deferred investment and reticent at age 65
Let me show you why it’s important to not waste another minute.
This chart compares the total out of pocket cost per year to have $1,000,000 at age 65
for retirement.
So, A 25 year old would need to save approximately $5000/yr or $400 dollars per
month to have $1,000,000,
a 35 year old would need to save $10,500 dollars per year or almost $900 dollars per
month and
a 45 year old would have to save approximately $24,500 per year or a little over $2
thousand dollars per month.
If you cannot afford to save that much now, then you need to reduce your expenses.
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© 2020 Hilton Financial Group, LLC
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