Want to Retire a Millionaire? Make the Most of Your 401k with This Genius Tool

Want to Retire a Millionaire? Make the Most of Your 401k with This Genius Tool

We’ve all done it – wasting $1 every week, praying that we score the jackpot. But actually, you’re 45 times more likely to die from flesh-eating bacteria than winning the lottery – so have a little faith in yourself instead. Trust in your retirement plan. Ok, I know what you’re thinking “I’m far too young to be thinking about retirement strategies…”

You might think so. But, luckily for you, there is a money-saving tool ready to figure out your financial future.


Blooom is dedicated to managing your 401(k) in a simple, affordable way. All you need to do is connect your 401(k) account to Blooom and a group of dedicated experts will do the rest!



How Can Blooom Save You Money?


There’s a big chance you’ve been missing out on financial help, and Blooom is the best service to change that.


Setting up an account with Blooom is super easy. All you need to do is enter your information: name, age and when you hope to retire. Then, you can connect your 401(k) account to receive a free “health report”.



This free report tells you what’s going on with your retirement plan, and what you can do to improve it. Blooom finds out if you’re paying any hidden fees, and checks to see if your mix of bonds and stocks is invest-appropriate for your age.


If you want Blooom to do the hard work for you, simply opt-in for $10 per month. The company’s professionals will reconfigure your 401(k), and keep an eye on it without you having to lift a finger.




Sit Back, Relax, and Become a Millionaire


Seriously, saving one million dollars doesn’t have to be a pipe dream. If you start young and have a smart plan it’s very achievable.


According to Blooom, a 30-year old with $25,000 can retire at age 59 with $1 million in their retirement account. It’s as simple as contributing $5,000 per year, with a 5% annual increase and an average return rate of 7%.


This is a pretty sweet deal, considering that the average retirement age in the U.S is 63.


But, what if you don’t have $25,000 in your nest egg?


Instead, let’s figure out a different path to achieving your millionaire dream. With $1,000 in savings at 30, you could retire with $1 million dollars in your 401(k). Again, you’d need to contribute $5,000 per year, with a 6% annual increase and an average 7% return rate and you could retire at 60 instead of 65.


What’s great about Blooom is how easy it to find a savings strategy that’ll allow you to meet your retirement goals. You can even adjust how aggressive your investing preferences are, changing your strategy as you age.


Can’t wait to put your hard-earned dollars in good hands? Start the sign-up process here.



Dream of becoming a millionaire?

Share this article with your friends!



Disclosure: CheapGenius team writes about stuff we think you’ll like. Some of the links in this post are from our sponsors and we may receive compensation for it. However, we would never recommend something we don’t believe in.