How to Retire With $2.1 Million on a $50,000 Salary

·3 min read
How to Retire With $2.1 Million on a $50,000 Salary

Saving enough for retirement can be challenging, but making regular contributions from an early age can make the task much easier. If you make $50,000 per year and stash 15%, or $625 per month, in a retirement account every year that earns a 10% average annual rate of return, you'll have close to $1.3 million after 30 years of savings. Your nest egg is able to grow so quickly in these final five years because you're earning a 10% annual return on a much larger sum.

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