How much money a 30-year-old has to save to be a millionaire by 67
Retiring with $1 million or more in the bank could be more doable than you think, especially if you start saving as soon as you enter the workforce. In a perfect world, you'll start putting your money to work in your 20s in order to reap the full benefits of compound interest . Even if you don't get started until you hit 30, it's still more than possible to build a million-dollar portfolio by the time you're ready to stop working. Personal finance site NerdWallet created a chart showing the percentage of each biweekly paycheck you'd need to set aside to have $1 million saved by the time you're 67. The chart assumes you're starting at age 30 with zero dollars invested. It also assumes a six percent average annual investment return and various annual salaries. Scroll over the chart to see the exact numbers. Here's how much a 30-year old would have to set aside if she earns: $40,000: 18.3 percent of each paycheck $60