Investing in your 20s can let you take advantage of the power of compound interest for decades.
If you want to save $750,000 by age 40, you will need to start putting away a lot of money when your career is just starting.
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 $750,000 — 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.
