Investing in your 20s can let you take advantage of the power of compound interest for decades.
If you want to save $750,000 by age 40, you will need to start putting away a lot of money when your career is just starting.
First, let’s go over how we got the numbers. The math assumes you are starting with no money in savings, that your investments will earn 4% in annual returns, and that you begin saving at 22 and fresh out of college.
CNBC crunched a range of data to give you some options.
Here’s how much you will need to start investing every month to reach $750,000 — broken down by your target age.
Check out this video to dive into the figures.
More from Invest in You:
How Walmart and other big companies are trying to recruit more teenage employees
Americans are more in debt than ever and experts say ‘money disorders’ may be to blame
How much money do you need to retire? Start with $1.7 million
Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.