At age 55, you've Saved: 0$
To reach $1 million by 65 you need to save $5,466 per month. (This assumes an 8% annual return, invested in stocks.)
If You've Saved: $50,000
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To reach one million by age 65 you need to save $4,859 per month.
If You've Saved: $100,000
To reach one million by age 65 you need to save $4,253 per month.
If You've Saved: $200,000
To reach one million by age 65 you need to save $3,040 per month.
Successful Savings Strategies
Take advantage of your peak earning years to top off your savings.
Add an extra $6,000 in catch-up contributions to your 401(k) savings and an extra $1,000 to your IRA.
As you near retirement, reallocate your portfolio to 70% stocks and 30% bonds.
Estimate your retirement expenses and your projected income. If you're coming up short, consider working a few more years.
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I'm 54 with a $320,000 IRA and will soon be self-employed, earning about $120,000 per year. How much should I be saving for retirement?We asked financial experts for advice.
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This High-Performance Investment Vehicle Can Pump Up WealthLeave online real estate investing to the beginners. Accredited investors who want real growth need the wealth-building potential of Delaware statutory trusts.
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Amazon Resale: Where Amazon Prime Returns Become Your Online BargainsFeature Amazon Resale products may have some imperfections, but that often leads to wildly discounted prices.
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457 Plan Contribution Limits for 2025Retirement plans There are higher 457 plan contribution limits for state and local government workers in 2025. That's good news for state and local government employees.
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Medicare Basics: 12 Things You Need to KnowMedicare There's Medicare Part A, Part B, Part D, Medigap plans, Medicare Advantage plans and so on. We sort out the confusion about signing up for Medicare — and much more.
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The Seven Worst Assets to Leave Your Kids or Grandkidsinheritance Leaving these assets to your loved ones may be more trouble than it’s worth. Here's how to avoid adding to their grief after you're gone.
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SEP IRA Contribution Limits for 2025SEP IRA A good option for small business owners, SEP IRAs allow individual annual contributions of as much as $70,000 in 2025, up from $69,000 in 2024.
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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 2024
retirement plans State and local government workers can contribute more to their 457 plans in 2024 than in 2023.
