How to retire a millionaire at any age

  • 25 year olds have to save a little over $300 a month. That's just $10 a day for the rest of their working lifetime.
  • 35 year olds have to save $775 a month.
  • 45 year olds have to save $1,850 a month.
  • 55 year olds have to save $5,700 a month.

The point is the earlier you start, the easier it is. But it's never hopeless at any age. If you're getting a late start, it just means you may have to delay your retirement.

One key to making the math work is to delay taking Social Security as long as you can. If possible, don't jump at the opportunity to take it at 62 like most people do. Working until 70 and taking Social Security at that age too is a great formula for success.

Maybe you don't care about retirement, in which case saving money never becomes something you're about. But if the goal is financial independence, you should start young and save every day. See my chart below, coupled with my investment guide, and you'll be on your way.

For further reading:

Support real journalism. Support local journalism. Subscribe to The Atlanta Journal-Constitution today. See offers.

Your subscription to the Atlanta Journal-Constitution funds in-depth reporting and investigations that keep you informed. Thank you for supporting real journalism.

Clark Howard is a nationally syndicated consumer advice expert