Are you on track? If you start in your 20s, you should aim to put away around $400 a month. But that's not possible for everyone.
CNBC Make It used CNN Money's helpful millionaire calculator to estimate when you would become a millionaire if you're able to contribute $300 to an investment account each month, assuming that you're starting from scratch with zero savings.
As these numbers show, depending on how old you are now, putting away only $300 a month may not be a reliable long-term plan for building wealth and .
Consider reworking your budget and trying to find areas where you can dedicate more to saving and investing. You want to start putting money away to take advantage of , in which any interest earned accrues interest on itself. That means a little money invested now can end up being more than a lot of money invested later.
You're not alone if even $300 is maxing out your finances: Even $2,100 a year, or $175 a month, is .
But if you're able to get started investing, here are a few simple, low-stress ways to begin:
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