How to Turn $100,000 Into $1 Million By the Time You Retire
According to a recent report from Fidelity Investments, the average 401(k) balance in the second quarter of 2022 was $103,800. Because of a tough market, that average is down 17% from the prior year.
Occasional backward momentum is a normal occurrence for investors. But knowing the stock market has downturns doesn't make it easier to manage. Most savers (including me) see their retirement balances dip and wonder if they'll ever catch up.
To quiet those nervous thoughts, let's walk through what it takes to turn your $100,000 balance into $1 million by the time you retire.
Source Fool.com
