Here's How Much You Should Have Invested for Retirement at Age 60

How much money do you need to ensure a nice retirement? Data gathered by insurer Northwestern Mutual suggests that most people think the magic number is $1.46 million. That's an average based on a wide range of estimates from ordinary investors, though. You could be just fine with less. Or you might end up needing considerably more. Your spending plans and habits have a great deal to do with your future need.There is one thing almost every investor understands, however. That is, you don't amass your retirement savings overnight. You do it over time through a combination of contributions of new money and the growth of your previously contributed money, meeting financial milestones en route to retirement.This not-so-small detail raises an important question: How much should you have invested at age 60, when you're not quite ready to retire, but when that day is within sight?Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool