Seven-figure savings strategies for fortysomethings. Thinkstock By the editors of Kiplinger's Personal Finance Updated January 2015 At age 45, you've Saved: 0$ To reach one million by age 65 you need to save $1,698 per month. (This assumes an 8% annual return, invested in stocks.) If You've Saved: $50,000 To reach one million by age 65 you need to save $1298 per month. If You've Saved: $100,000 To reach one million by age 65 you need to save $861 per month.See Also: Retire a Millionaire Successful Savings Strategies You may be juggling the needs of a growing family and aging parents, but don't take a break from retirement savings. You can contribute up to $18,000 to a 401(k) or similar workplace-based retirement plan this year or $5,500 to an IRA. Roll over retirement savings from previous jobs into an IRA. Adjust your asset allocation to 80% stocks and 20% bonds. Your kids can get grants or loans for college, but there's no financial aid for your retirement. Don't put your kids' college costs ahead of retirement.