Although the thought of saving $1 million or more by the time you reach retirement age may seem overwhelming, the process doesn't have to be — especially if you start early.
Instead of focusing on the total, try paying attention to your savings rate, which is the percentage of your annual pre-tax income you're contributing to your retirement investment account.
But your savings rate is something you can control.
Fidelity recommends a savings rate of at least 15%, inclusive of any employer match.
To that point, you can begin your retirement savings journey by setting aside just $10 a day, or $70 a week.
Persons:
it's, James Royal
Organizations:
Fidelity, CNBC