When you were a little kid, did you dream of being a millionaire? Did it sound like a magical fantasy that would allow you to live a luxurious life?
Well… experts are now warning that one million dollars may no longer be enough savings to fund your retirement, depending on your personal circumstances.
Meeting your long-term investment goal is dependent on a number of factors. This not only includes your investment capital and rate of return, but inflation, taxes and your time horizon. Your annual savings, expected rate of return and your current age all have an impact on your retirement’s monthly income.
Open a Kasasa Saver and watch your savings grow faster! This savings account offers a higher interest rate than a typical account. Kasasa Saver is available with a Kasasa Cash or Kasasa Cash Back checking account.
As an MVCU member, you have access to free budgeting tools right inside your online banking! Explore these features in online banking: Creating Budgets and Creating Savings Goals.