Plan Your Retirement: How Much to Invest Monthly to Retire With $1 Million

Retirement Planning: How Much Should You Invest Monthly to Reach \$1 Million by 65? Financial security in retirement is a major concern for many. A recent short video has gone viral, offering a simplified guide on monthly investment amounts needed to achieve a \$1 million retirement nest egg by age 65. The video, created by Ava Yuergens, a real estate investor and businesswoman, uses a clear visual format to demonstrate the calculations for various age groups, assuming a conservative 7% annual return rate on investments in the S&P 500. For example, the video shows that a 24-year-old aiming for \$1 million by 65 would need to invest approximately \$264 a month. This amount increases significantly with age, reaching \$3,155 per month for a 50-year-old and a staggering \$13,968 for a 60-year-old. "It's important to start saving and investing early," says Yuergens in the video. "The power of compounding is significant, and the earlier you begin, the less you'll need to invest monthly." The video has sparked significant online discussion, highlighting the importance of long-term financial planning and the need for accessible financial literacy resources. While the video presents a simplified model, it serves as a valuable starting point for individuals to begin planning their retirement investments.