I’m 55 with $500K in my 401(k) and hope to retire with $1M in 10 years. Is that realistic?
Yahoo Finance·2025-12-27 03:30

For many Americans, hitting the 1millionmarkmayfeellikeakindofretirementsummit—atidy,roundnumberthatpromisescomfortandsecurity.Butisitarealisticsavingsgoalforsomeonealreadyintheirmid−50s?Let’ssayyou’re55,debt−free,andsittingon1 million mark may feel like a kind of retirement summit — a tidy, round number that promises comfort and security. But is it a realistic savings goal for someone already in their mid-50s? Let’s say you’re 55, debt-free, and sitting on 500,000 in a 401(k). You own your home outright, which is valued around 400,000,andyou’recontributing10400,000, and you’re contributing 10% of your income toward retirement. You plan to call it quits at 65 with a 1 million nest egg. The question is, can you get there i ...