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| Two Different Contribution Strategies. How much retirement savings are enough? The answer depends, of course, on how much you can comfortably afford to invest. In the table below, Investor D's goal is to retire at age 65 with over $4 million in IRA savings, which means he will have to fund it more aggressively—$110,750 over 57 years. Investor D's strategy, on the other hand, is to retire with $1.25 million in retirement savings at age 65. To reach his goal, Investor D funds his IRA for only six years, an investment of only $6,750. While both investors will reach their goals, Investor D will enjoy a 188-fold return on his investment, while Investor E will receive only a 38-fold return. |
Example A: Who Wants To Be A Millionaire Example B: Who Wants To Be A Millionaire Summary |
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