How much money you need to save every day to become a millionaire

Millionare status is something we only ever dare to dream about when we pick up a lottery ticket or come up with a genius business idea while falling asleep, only to wake up and realise that no one would buy a combined pizza cutter and toy car.

But Bright Side has devised a chart showing how anyone can have $1m in their account by the age of 65, based on the advice of financial adviser David Bach in his book Smart Couples Finish Rich.

Bach writes in his book:

Becoming rich is nothing more than a matter of committing and sticking to a systematic savings and investment plan.

You don't need to have money to make money. You just need to make the right decisions — and act on them.

This chart, based on advice in Bach’s book, shows that daily savings from as little as $2 per day, if you start at the age of 20, can build up to $1m by the age of 65 – although the data doesn’t account for taxes.

How to be a millionaire by 65

Starting AgeDaily savingsMonthly savingsYearly savings
20$2.00$61$730
25$3.57$109$1,304
30$6.35$193$2,317
35$11.35$345$4,144
40$20.55$625$7,500
45$38.02$1,157$13,879
50$73.49$2,235$26,824
55$156.12$4,749$56,984

Enjoy that retirement in the Bahamas.

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