The $68,000 Milestone: A Reality Check on Retirement Savings The idea that saving 15% of one's income can lead to a million dollar retirement fund has been touted by financial experts and influencers.
However, this benchmark may not be attainable for the average American. Multimillionaire investor Kevin O'Leary recently shared an example involving an individual making $68,000 per year who saves 15% of their income.
This translates to approximately $10,200 per year invested at a 7% annual return. By age 65, this person's portfolio could be around $2. 2 million.