45 Years Old: Halfway Home
At 45, you're likely established in your career, with a decent salary. You may own a home, and the kids are thinking about college.
It's good you're making money, because you'll need to add $1,850 every month to that $10,000 base in order to reach $1 million in 20 years.
"There's a greater sense of urgency; your window for taking advantage of time is starting to close," Dungan said.
Yet one in four Americans between the ages of 46 and 64 have no retirement savings, the Harris Poll found. Another 22% have retirement savings mostly in bonds and savings accounts.
With so little saved at this point, you would do well to reevaluate your expectations for retirement. Are you saving and investing accordingly? You may have to weigh the purchases you make today versus a stable retirement.
"Now's your chance," Blayney said. "Don't blow it." Sourced By: Market Watch
At 45, you're likely established in your career, with a decent salary. You may own a home, and the kids are thinking about college.
It's good you're making money, because you'll need to add $1,850 every month to that $10,000 base in order to reach $1 million in 20 years.
"There's a greater sense of urgency; your window for taking advantage of time is starting to close," Dungan said.
Yet one in four Americans between the ages of 46 and 64 have no retirement savings, the Harris Poll found. Another 22% have retirement savings mostly in bonds and savings accounts.
With so little saved at this point, you would do well to reevaluate your expectations for retirement. Are you saving and investing accordingly? You may have to weigh the purchases you make today versus a stable retirement.
"Now's your chance," Blayney said. "Don't blow it." Sourced By: Market Watch
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