Here's How Much You Should Aim to Invest Every Year if You Want to Retire Comfortably

Core Insights - Retirement planning is increasingly challenging due to inflation, with the average amount needed for a comfortable retirement now estimated at $1.26 million, up from the previous figure of around $1 million [1][6] Investment Strategy - Regular annual investments are essential to reach the retirement goal of $1.26 million, with the required annual investment varying based on the number of years until retirement and the expected average annual return [2][4] - A table illustrates the annual investment needed based on different growth rates (9% to 12%) and years until retirement, showing that the longer the investment period, the lower the annual contribution required [5] Growth Fund Recommendation - Investing in a top growth fund, such as the Invesco QQQ Trust, is suggested as a strategy to potentially achieve above-average market returns, aiding in reaching the retirement savings goal [6][8] Flexibility in Retirement Planning - If the required investment amounts appear high, one option is to consider delaying retirement or utilizing alternative income sources initially, allowing the investment portfolio to grow further [7]