How a 46-Year-Old With a $1 Million 401(k) Can Hit $2 Million by Retirement

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quick questions causing many Americans to realize they can retire earlier than expected. take 5 minutes to learn more hereMany people reach their mid-40s with little or no retirement savings, so if you are already sitting on 1 million dollars at that age, you are in an excellent position. You are ahead of most Americans by a wide margin.Still, a million dollars is not the golden ticket it used to be. It may cover your basic expenses comfortably, but it probably will not fund a lavish retirement. Wanting to double that amount before leaving the workforce is completely reasonable.In this Reddit post, a 46-year-old saver has already crossed the million-dollar mark but wants to keep building. If that balance can grow to 2 million dollars by retirement, their later years could be far more relaxed and financially secure.The good news is that this goal is entirely within reach. With the right strategy, discipline, and long-term planning, doubling a 1 million dollar portfolio over the next couple of decades is realistic. And anyone in a similar situation can use the same tactics to boost their chances of success.If you are in your mid-40s with 1 million dollars saved for retirement and you are aiming to reach 2 million dollars by a typical retirement age, you probably do not need to worry. Historically, major U.S. stock indexes have delivered average annual returns of roughly 8 to 10 percent over long periods, including dividends. At an 8 percent annual return over 20 years, 1 million dollars grows to about 4.66 million. At 10 percent, it grows to roughly 6.73 million. That is not just doubling your money but multiplying it several times over. Of course, risks remain, including market volatility, inflation, sequence-of-returns risk, and future spending needs.Given those numbers, the real question is not whether you can reach 2 million dollars but how much higher your savings might climb. If you stay invested and continue contributing consistently, your long-term portfolio growth could far exceed your current goal.Your target also depends on what you consider a normal retirement age. Someone planning to retire at 55 faces a very different outlook than someone expecting to retire at 65 or 67. 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