When you get your goals in place and decide that you're ready to take action, it can be intimidating. How are you supposed to save a number that's ten times what you make each year? That's more money than you've had pass through your hands in your lifetime and now you're supposed to save that much? Like it's extra? Huh?
Some people will look at that number, decide they can't do it, and give up. They'll also miss out on some amazing things in life and will probably always be pissed off.
Video of the Day
A wise man, I believe it was Kermit the Frog, once said that the journey of 1,000 miles begins with just one step. How do you save that much money? You just start. That's it! You don't have to put $50,000 in a savings account tomorrow. $5 works for now. Just get started.
Once you're comfortable with the idea of saving a little you can set up a small goal for yourself. Once you meet that goal, set another, then another. Then saving will be second nature to you and look! You're already doing it, so why stop now?
If you need to put $750,000 into your retirement account to meet you goal and stop working in 40 years then you'll need to save about $375 per month. That's not so scary! Focus on that much smaller, less terrifying number.
The only way to do something is to do it. You can do it!