📊 The Magic Number: $1.26 Million

The average American believes they’ll need $1.26 million to retire comfortably. That’s a lot of money — but here’s the interesting part: you can get there and Beanstox can help.

🧓 Younger vs. Older Generations

Different age groups feel very differently about retirement:

• Gen X (ages 45–60): Most don’t feel ready. Over 50% have no more than 3 years of income saved or invested for retirement.

• Gen Z (ages 20s): Surprisingly confident. They’re starting to save earlier — by age 24 on average — and many hope to retire by 61.

Source: This is America’s ‘magic number’ for retirement – and it’s lower this year 

📅 How Much to Invest Per Month?

Let’s say you want to hit that $1.26 million goal by age 65. How much should you invest each month?

Here are hypothetical examples assuming your investments earn 8% per year*:

• Start at age 20: Invest $239/month

• Start at age 30: Invest $549/month

• Start at age 40: Invest $1,325/month

• Start at age 50: Invest $3,641/month

The earlier you start, the easier it is — thanks to the power of compounding (that’s when income on your money also earns more income over time).

✅ What This Means for You

• Don’t be scared by the $1.26 million number

• It’s ok to start small, as long as you start

• Use Beanstox tools like IRAs to grow your savings over time

• The earlier you start, the better off you’ll be

You don’t need to be rich now to retire comfortably. You just need a plan — and a little consistency.

*Assumptions: These projections reflect hypothetical examples of compounding over time, with an assumed growth rate of 8%, compounded monthly and assuming the funds stay invested throughout the investment period. Returns are hypothetical annualized returns. The projection is provided for illustrative purposes, and it is not indicative of past performance of any Beanstox portfolio or any client’s experience using the Beanstox App. The hypothetical returns do not reflect fees or the cost associated with investing. Content is meant to provide education on the power of compound returns over time, and it is not intended to be taken as advice or a recommendation for any specific investment product or strategy.