Can You Retire a Millionaire Saving $500 per Month?

There are more retirement millionaires than ever before. In the third quarter of 2020, approximately 262,000 people had at least $1 million in their 401(k), according to research from Fidelity Investments, a record high.

Reaching $1 million in retirement savings may sound like a goal that's only achievable for those who are already wealthy. However, it is possible to retire a millionaire on a modest salary -- as long as you start saving early enough.

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Source Fool.com