Your retirement story
Based on historical market growth , retiring at 67 with a target income of $6000/mo may require a nest egg of $3,234,567. If that seems like a lot, don’t worry. We can help you work toward your goal.
Based on your savings and age, you should save about $1,234.00 a month (about 13% of your salary) to hit your goal of $3,234,567.
Start small, start today
If you can’t save $1,234.00/mo a month, its ok to start small. Start saving 1% of your salary and increase that amount each year until you reach your target. Focus on any high interest debts first like credit cards, and take advantage of 401k matching if your employer offers that benefit.
Limit expenses where your can
Swearing off avocado toast and cutting ties with your favorite barista aren’t the only ways to cut costs. Large recurring monthly bills like car payments and housing can significantly impact how much you have to save. Also, avoiding lifestyle creep once you start making money can be really effective in freeing up more funds.
Optimize your retirement plan
Lastly, one of the easiest ways to work towards your goal is to make the most of the savings your already have in your retirement fund. Intelligent401k uses human expertise, aggregated research, and responsive AI to respond to market fluctuations. Our personalized assessment takes in account your risk tolerance, goals, and financial situation to offer recommendations the same way a financial advisor would. Except here at Intelligent401k, we have no capital minimums, no commissions, and no hidden fees.