What Does It Take to Have a $1 Million 401(k)?
Saving a considerable amount for retirement might not be as hard as you think.
Let's say your goal is to save a million dollars by the time you retire. For many people, that sounds like a Herculean task.
What are you picturing right now? If you are imagining squirreling away money for decades and holding it in cash (which has returned 0.4% after inflation* over the past 90 years), you would need to sock away a lot of money to get to a million. And along the way, your budget could be really tight.