Want to Be a Millionaire by 60? Here's How Your 401(k) Can Get You There

Early retirement can be a dream come true, but it's also an expensive goal. The earlier you retire, the more you'll need in savings to live comfortably -- and the less time you'll have to prepare.

Retirement could easily cost at least $1 million, especially if you plan to retire early at age 60. While it's not easy to become a millionaire at a relatively young age, it is possible. And the good news is that you don't need to be an expert investor to achieve this goal. All you need is a 401(k) and the right strategy.

The 401(k) is a powerful investing tool, and there are a few ways to maximize it so that you can reach millionaire status.

Source Fool.com