Now, let's say that between employer matching dollars and your own contributions, you have $1,000 a month going into your 401(k). If you have a 30-year savings window and score an average annual 8% return, you'll wind up with about $1.36 million to your name. But if you play it safe in your 401(k) and load up on bonds over stocks, you might see much lower returns -- and a much lower total balance. Amassing $1 million or more in your 401(k) won't happen overnight. While there's no rule stating that you must retire with $1 million or more in savings, reaching that goal certainly isn't a bad thing to do.

Source: Daily Sun September 11, 2021 11:03 UTC