How Middle-Aged Americans Could End Up With an Extra $73,000 for Retirement
Building up a large retirement nest egg can be a challenge, but you may be surprised at how easy it is to supercharge your savings and end up with a lot of extra money in your later years.
In fact, by making one simple move, you could end up with an extra $73,000 in retirement savings if you're currently middle-aged and you don't plan to retire until you're in your 60s.
So, how can you add an extra $73,000 to your retirement nest egg? It's simple -- increase the amount you're saving by just $1,000 annually. If you do that and earn an average annual return of 8% per year (a reasonable rate of return to expect if you invest in an S&P 500 index fund), you'll end up with around $73,105 extra in your retirement savings accounts after 25 years.
Source Fool.com
