Retire

How to retire with $750,000 on a $35,000 salary, broken down by age – CNBC

Summary

As a rule of thumb, most financial advisors suggest that you save 10% to 15% of your salary.

And if your goal is to get to $750,000, the percentage you need to invest will vary drastically based on how old you are when you start.  

Here’s a case study.

Starting to invest when you turn 25 means that saving 13% of your $35,000 income, more than $375 every month, will put you on track to retire with $750,000.

Check out this video to see a full breakdown for different ti…….

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As a rule of thumb, most financial advisors suggest that you save 10% to 15% of your salary.

And if your goal is to get to $750,000, the percentage you need to invest will vary drastically based on how old you are when you start.  

Here’s a case study.

Starting to invest when you turn 25 means that saving 13% of your $35,000 income, more than $375 every month, will put you on track to retire with $750,000.

Check out this video to see a full breakdown for different timelines.

More from Invest in You:
Americans are more in debt than ever and experts say ‘money disorders’ may be to blame
How much money do you need to retire? Start with $1.7 million

Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.

Source: https://www.cnbc.com/2021/11/05/how-to-retire-with-750000-on-a-35000-salary-broken-down-by-age.html