Saving Just $300 a Month Could Make You a Retirement Millionaire, but Only If You Follow These 2 Rules

Maurie Backman, The Motley Fool
·3 min read
Saving Just $300 a Month Could Make You a Retirement Millionaire, but Only If You Follow These 2 Rules
Saving Just $300 a Month Could Make You a Retirement Millionaire, but Only If You Follow These 2 Rules

To retire a millionaire by contributing just $300 to your retirement savings plan, you'll need to follow these two rules. Many people get their first job in their early 20s, only they don't start funding a retirement plan until many years after. Imagine you sock away $300 a month in an IRA or 401(k) starting at age 22, all the way until age 67, which is full retirement age for Social Security purposes for anyone born in 1960 or later.