The sooner you start putting your money to work, the better. If you start at age 22, for example, you may only have to set aside 4-10 percent of your salary to accumulate a million dollars.
But the longer you wait to start saving, the more catching up you'll have to do. To illustrate this, personal finance site NerdWallet created a chart showing the percentage of each biweekly paycheck you'd need to set aside to have $1 million saved by the time you're 67.
The chart assumes you're starting at age 40 with zero dollars invested. It also assumes a six percent average annual investment return and various annual salaries.
Depending on how much you earn, you'll have to save 13-to-37 percent of your income to reach millionaire status by age 67. Scroll over the chart to see the exact numbers.