4 Ways to Grow $100,000 Into a $1 Million Retirement Nest Egg
If you've already managed to build up a $100,000 retirement nest egg, you should pat yourself on the back. After all, that's not an insignificant sum. But you shouldn't rest easy.
That's because you'll need to grow that money considerably more if you want a comfortable lifestyle in your golden years. A common rule of thumb is that you'll need 80% of your pre-retirement income, and it will require a big portfolio to generate that kind of cash flow. For instance, Fidelity Investments recommends having the equivalent to your annual salary set aside by age 30, and steadily adding more so that you'll have 10 times your annual salary in your retirement stash when you turn 67.
So if you're earning around $100,000 a year, and that matches what you have saved, you'll need a strategy that can grow that money tenfold. These tips can help you can get there.
Source Fool.com
