Building a million-dollar portfolio may not be as hard as you think. If you start saving early, you can even reach seven figures by age 50 and consider settling down early.
Personal finance site NerdWallet created a chart showing just how much you need to save each month to have $1 million in the bank by 50. It assumes you start with zero dollars at various ages and also assumes a 6 percent annual investment return.
While $1 million is the oft-cited amount needed to retire comfortably, depending on when you retire and what you want your lifestyle to look like in your golden years, you may need more or less than that. To help you figure out the right amount to fund your retirement, check out NerdWallet's retirement calculator.
If you're aiming for the $1 million mark, here's how much you have to save per month to reach that goal. Scroll over the chart to see the exact numbers.