Brad's Interview with WCCO's MoneyWatch

Brad was interviewed on WCCO's MoneyWatch about The Formula To Having $1 Million For Retirement. Journalist Jennifer Mayerle discussed with Brad that planning for your financial future should be a priority. In order to accumulate $1 million by age 65 (retirement age), the amount of monthly savings needed by age*:

 
  • Age 25 $419/month
  • Age 35 $876/month
  • Age 45 $2,000/month

*Assumes annual average rate of return of 6.66 percent
- So you’d need to save twice as much starting at age 35 and almost 5 times as much starting at age 45

 
 
  • A person who saves $419 per month starting at age 25 will accumulate $1 million by age 65
  • A person who saves that same $419 per month starting at age 35 will accumulate $478,000 by age 65
  • A person who saves that same $419 per month starting at age 45 will accumulate $209,000 by age 65
 
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