Young Americans have mixed feelings about their ability to reach their retirement savings goals.
However, about half of both groups feel they're slightly or significantly behind where they should be, per the survey.
When you start saving for retirement early, you give your funds more time to grow through the power of compounding interest.
On average, Americans think they'll need over $1 million to retire comfortably, according to Bankrate.
With that in mind, CNBC calculated how much you would need to set aside each month in order to retire with $2 million at 65, starting at ages 21, 25 and 30.
Persons:
Zers
Organizations:
CNBC
Locations:
Northwestern