How Many Years of Maxing Out a 401(k) Does It Take to Become a Millionaire?

Your 401(k) can be an incredibly powerful tool when it comes to building a comfortable nest egg for your retirement. Once you sign up, money gets automatically invested, directly from your paycheck. While in the account, the money compounds in a tax advantaged way for your retirement. In addition, contribution limits are large enough that becoming a millionaire just from your 401(k) is a feasible goal for folks who start early enough in their careers.

Indeed, when it comes down to it, if you're willing to max out your 401(k) early enough in your career, there may even be a path to become a millionaire from the compounding of a single year's contribution. Of course, while that's mathematically possible, there are other ways to get there that don't rely on being able to be super aggressive with your investing quite that early in your career.

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Source Fool.com