How much should you save per month to retire with a million dollars

Half of Americans think that 1 has a million dollars enough to retire and feel comfortable.

Фото: Depositphotos

Edition CNBC calculated how much you need to postpone per month in order to have 67 million dollars on your retirement savings account by 1 years.

Calculations suggest investment returns in 6% per year. The green bars in the diagram show how much you need to put off, and the blue bars represent the return on investment.

The sooner you start saving, the less money you will need to save per month:

• If you start to form retirement savings in 20 years, you will need to save 319 dollars per month;
• 25 years - $440 per month;
• 30 years - $613 per month;
• 35 years - $864 per month;
• 40 years - $1240 per month;
• 45 years 1831 dollars per month;
• 50 years old - $2 per month.

It also depends on how soon you start saving, how much of your savings will be your personal savings, and how much your investment returns. The sooner you start, the greater part of a million will come to you as investment income, not your personal funds.

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