How to save $1 million before you turn 40

Saving $1 million when you’ve just graduated college might sound impossible, yet you can get there with time and dedication.

How much you’ll need to save every month, however, will depend on how fast you plan to reach your goal.

Luckily, CNBC crunched a range of numbers to give you some options.

Here’s how much you will need to start investing every month to reach one million dollars — broken down by your target age.

First, let’s go over how we got the numbers. The math assumes you are starting with no money in savings, that your investments will earn 4% in annual returns, and that you start saving at 22 and fresh out of college.

Check out this video to dive into the figures.

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[domenican]

This is why reddit is coming after all of you... It's BS things like this

[Pledditor]

If you make 100k a year and invest most of your income, sure. Most people don't earn 100k and don't have this opportunity.

[bennguyen]

lol the nerve to post this video at this time lol

[alexlau]

Why would I invest in the long run when I can become a millionaire off game stop in a matter of hours.

[abuhajara]

I already did the math for my 5 years old daughter. By the time she is 40 she will have $400 million. This is not good enough. I want her to have few billion dollars by the time she is 40. Why do not you show me how my daughter will have few billions by the time she is 40 years old, and then I can compare your approach with mine.

[penrodautorepair]

Stop giving these people a pipe dream.

[BitsOfInterest]

Where did you guys pull that 4% from? Long term returns for the S&P are closer to 10%. If you want to get to $1M quickly you should have 100% equity and no bonds if you can stomach the draw downs that will inevitably happen.

[itrthho]

How many times is this network going to re-uploadi this video?

[felixf]

For those of you saying "okay boomer" or "this is stupid." No it's not stupid. I'm 24 years old and there is nothing wrong with investing this way. Just because GME or AMC blew up 300% in a few days that doesn't mean that will always happen. If you keep investing like that you will end up blowing your account within a year.

[VoltageLP]

Why have 4% annual returns if you can have 1000% weekly returns? And where do you get $4000 a month?

[-zq]

Yeh, start saving every doller from 22 until you are 50. Who want to enjoy the best years anyway?🤦‍♂️

[feriafyre]

Easy to tell whos corrupt and whos not. The WORLD looks on.

[drawingyourdreams]

4% annual interest on your investment is pretty terrible. Just sticking to the boring old S&P500 can easily double that 4 to an 8% quite comfortably

[cutehumor]

they do that 4% annual return crap so we have low expectations and will hold stocks when the market drops -20%. but "I made 16 percent the year before"

[kingbruno]

No thanks, I'd rather jump on short

[jiridvorak]

its simple...every month buy few TESLA stock..and yuo bilionare in just few years..

[oladimejiolaolorun]

video says 30, title says 40, BUY GME

[harrisonwintergreen]

Why assume 4%? Market average is closer to 8% after inflation