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Chart of the Day: How Much to Save

Bar graph showing how much, by age, one would have to save per month in order to be a millionaire at age 65.

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Today’s Chart of the Day from @PeterMallouk is a good one to share with the friends and family who are still working and saving. It shows the annual savings needed to become a millionaire by age 65.

What is the lesson we can take from this? Start early—at just 20 years old, it could take only $115 saved per month but wait until 40, and it jumps to having to save $850 per month!