How to save $1 million for retirement on an annual salary of $70,000
Consistently saving a small percentage of your salary is a simple way to ensure you're prepared for retirement.As a rule of thumb, most financial advisors suggest you save 10% to 15% of your earnings. Here's a case study assuming you start with no savings, plan to retire at 65 and have investments that earn 6% annually.If you want to retire with $1 million, you'll need to invest about 9% of a salary of $70,000 starting in your 20s. Waiting until you're older will require a larger portion of your pay. If you wait until…