You could become a millionaire, by saving just a few bucks a day and invest it

But many people will find that with dedication and consistency, they'll be able to get to their goal by a typical retirement age

Try to keep things you value most while cutting things you spend on but receive minimal value from. Even if it's just a few bucks a day, it can add up

If you're in your 20s, you won't have to set aside much each month to reach millionaire status by retirement age

You will not find a bank account offering 7% interest on your deposits. To earn those kinds of returns or higher, you will need to invest your money

But even using a simple approach like investing in a low-fee broad-market index fund will earn you solid returns over the long term

If you don't invest your money for long enough, you're not giving compounding the chance to work its full magic

And you can't control the returns you get from the stock market. But you can plan to work, save, and invest for longer if you have to