You’ll need a plan to save $500,000 by the time you turn 40.
First, let’s go over how we got the numbers. The math assumes you are starting with no money in savings, that your investments will earn 4% in annual returns, and that you begin saving at 22 and fresh out of college.
CNBC crunched a range of data to give you some options.
Here’s how much you will need to start investing every month to reach $500,000 — broken down by your target age.
Check out this video to dive into the figures.
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Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.
