Save early and often to build a seven-figure nest egg. By the editors of Kiplinger's Personal Finance March 13, 2017 What’s the secret to retiring with $1 million? It’s simple: Save early and often.See Also: 10 Reasons You Will Never Be a Millionaire The sooner you start to save, the easier it will be to amass a comfortable nest egg thanks to the power of time and the magic of compounding. A 25-year-old who saves $450 a month in a tax-deferred retirement account and earns an average yearly return of 7% will have about $1.1 million by age 65. The same investor who waits until age 35 to start saving would have to sock away $950 a month to reach roughly the same balance by age 65. The amount that needs to be saved every month shoots up to $2,200 for those who delay getting started until age 45. Advertisement Try to save 15% of your income, including any employer match for your retirement plan. If that’s not doable, put away as much as you can and increase the percentage as your income and budget allow. Learn more wealth-building secrets of millionaires. Take the Quiz: Are You Saving Enough for Your Retirement?