15. Using the data in graphs II and III, how much will most millennials need to begin investing, per month, in order to have $1M in retirement? Explain your answer. 16. Now that you've analyzed these three graphs, list at least 4 things you have learned about investing for retirement. www.neof.org Last updated: 6/13/19 II - How Much You Need to Save Per Month to Have $1 Million at Retire HOW MUCH YOU NEED TO SAVE PER MONTH TO HAVE 1 MILLION AT RETIREMENT (6% RETURN RATE) $14,261 $16000 $14000 $12000 $10000 MONTHLY SAVINGS TO GET TO SIM $6071 $8000 Steen Sole NEP $6000 $3421 $2153 $4000 51435 $2000 $360 $500 $700 5990 55 60 20 25 30 35 40 45 50 AGE WHEN YOU BEGIN SAVING Graph III - How Much You Need to Save Per Month to Have $1 Million at Retirement HOW MUCH YOU NEED TO SAVE PER MONTH TO HAVE 1 MILLION AT RETIREMENT STUE $16000 $14,201 $14000 $12000 $10000 MONTHLY SAVINGS TO GET TO SIM $8000 SOT $6000 RIO SAN $4000 ROT 53421 $2153 31035 $2000 $360 $500 5700 5990 20 25 30 35 40 45 50 55 60 AGE WHEN YOU BEGIN SAVING Graph II - How Much Millennials, Gen X, and Boomers Have Saved for Retirement How Much Millennials, Gen X and Boomers Have Saved for Retirement MILLENNIALS (18-34) 6.3" 2.2 42.2" 29.8 11.2" 3.5 4.9 GENX (35-54) 29.8 21.9 11.2 10.3 8.8 12.1 6.2 5.8 BOOMERS & SENIORS (55) 28.0 17.3 8.7" 7.1" 10.3 22.4 Don't have retirement saving Have saved S1054 Hoeve $100K - 5101 COOK Have saved less than STOK Have saved 5509 53006523