The road to $1 million starts early, but there's hope, and help, for late bloomers.
Choose your age category below to see how much you need to save each month to accumulate $1 million by age 65. You'll also find strategies to fit retirement saving into the rest of your life.
At age 25, you're starting from scratch. At ages 35, 45 and 55, we assume you already have money in savings on which you're earning 8% annually. Even if you can't save quite this much now, our step-by-step guide will help you set priorities for every stage of life.
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Twentysomethings
You're just starting your career, so this is your chance to build a solid financial foundation.
Thirtysomethings
You may be starting a family or preparing to buy a home. Balance you short-term needs with long-term savings goals.
Fortysomethings
You may be juggling the needs of a growing family and aging parents, but don't take a break from retirement savings.
Fiftysomethings
Take advantage of your peak earning years to top off your savings.
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SEP IRA Contribution Limits for 2026SEP IRA A good option for small business owners, SEP IRAs allow individual annual contributions of as much as $70,000 in 2025, and up to $72,000 in 2026.
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Roth IRA Contribution Limits for 2026Roth IRAs Roth IRAs allow you to save for retirement with after-tax dollars while you're working, and then withdraw those contributions and earnings tax-free when you retire. Here's a look at 2026 limits and income-based phaseouts.
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SIMPLE IRA Contribution Limits for 2026simple IRA For 2026, the SIMPLE IRA contribution limit rises to $17,000, with a $4,000 catch-up for those 50 and over, totaling $21,000.
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457 Contribution Limits for 2024retirement plans State and local government workers can contribute more to their 457 plans in 2024 than in 2023.
