8 Things You Can Do to Become a Millionaire in Retirement

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One of the most common financial mistakes is not saving any money or not saving enough. Fellowes said that increasing your savings rate is “the single biggest thing you can do to increase the size of your nest egg in retirement.”

Many factors can determine how much you should be saving, but it should be a significant amount if you expect to retire comfortably.

Fellowes said that the “optimal savings rates vary depending on your income, expected returns, retirement date, and desired lifestyle in retirement, but most people need to save 10-20% of their income for a comfortable retirement.”

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