Want a $1 Million Nest Egg? Here's the Monthly Retirement Plan Contribution That Could Pull It Off
Many people dream of retiring with $1 million or more to their name. Now the reality is that you don't really have to fixate on a $1 million nest egg. You may be able to do just fine in retirement with less savings, or you might need a lot more. But if you do want to hit that $1 million goal, then it'll help to know how much money you need to sock away each month in a retirement savings plan to make that happen.
Of course, there's no easy answer to that question, as it will depend on variables such as the length of your savings window and the way you actually invest your money. But you may be pleasantly surprised to learn that it's possible to retire with a $1 million nest egg by setting aside just $300 a month in your IRA or 401(k) plan. Here's how.
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Source Fool.com
