Want to Get Your Portfolio to $1 Million by Retirement? Here's How Much You Should Aim to Invest Based on Your Age.
Planning to grow your portfolio to $1 million by the time you retire can be a great goal. And while it can seem like a daunting one, it's easier to accomplish that target if you start your investing journey early. Conversely, the later you start, you'd need to invest more to reach the same objective in order to make up for lost time.
With many good exchange-traded funds (ETFs) focused on growth and which can generate strong long-run returns, picking a place to invest your money doesn't have to be difficult, either. Here's a look at how much you will want to aim to invest in the stock market based on your age, and where you may want to invest your money as well.
Determining how much you will need to invest is based on two factors: investing years left and the anticipated average rate of return.
Source Fool.com
