Have $100,000? Here Are 3 Ways to Grow That Money Into $1 Million for Retirement Savings
Despite America being one of the world's best economies, the typical person living in the United States falls woefully short of saving for a comfortable retirement. According to studies, the median retirement savings across all U.S. families is $87,000. So, if you're at or around $100,000 today, I have two crucial nuggets of good news for you.
First, you're doing better than you might give yourself credit for, so give yourself some love. Second, the next $100,000 will feel much easier, thanks to the power of compounding.
Yes, retiring with $1 million or more in savings is attainable. However, the work to get there may depend on your life circumstances once you hit that first $100,000 milestone.
Source Fool.com
