Maximize Retirement Savings with IRAs

Discover the potential retirement savings from consistent IRA contributions! Starting at 27, maxing out $7,500 annually, and investing in an S&P 500 index fund, you could amass $1.38 million by 67. However, a 60/40 stock-bond portfolio might yield $882,000, assuming a 4.89% average annual return. These figures dont account for fees or future market performance. The four percent rule suggests you could withdraw $35,280 or $55,200 initially, depending on your nest egg. But remember, retirement comfort depends on your lifestyle and other income sources.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.