Many surveys show that Americans think they need more than $1 million to retire, including the latest Northwestern Mutual 2024 Planning & Progress Study, which reveals that Americans now believe they need $1.46 million to retire comfortably. This might sound like a lofty goal, especially considering that American workers aged 65 and older had an average of only $232,710 saved in a 401(k) in 2022, according to a Vanguard analysis. But if you still want to take a shot at the million-dollar mark, which isn't impossible, we've outlined seven key moves you can make in 2024 to ensure you're on the right path.

Image source: Getty Images.

You're probably watching your paycheck every month, but if you want to make real progress on your financial goals, you need to calculate your net worth. It's essentially the total of all your assets, such as cash savings, retirement accounts, and regular investment accounts, minus your liabilities, such as student loan debt or car loans. Checking your net worth frequently, ideally every month, will give you a better idea of your financial health and how you can improve it.

Continue reading

Source Fool.com