Average employees are saving $11,280 per year, between their own contributions and those from their employer. If you were to save that much every year for 25 years while earning a modest 7% annual return on your investments, you'd accumulate around $713,450 in savings. In a di...
For example, when I startedcontributing to my 401k in 1999, the maximum contribution limit was only $10,000. If you are a 40 year old, it's best to focus on the Mid End column. This chart does not take into consideration any after-tax savings post 401K contributions. However, the hig...
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Even if they’re offering 30 cents on the dollar, that’s an automatic 30% return that you’re getting. Monica Sipes Senior Wealth Advisor at Exencial Wealth Advisors “Even if they’re offering 30 cents on the dollar, that’s an automatic 30% return that you’re getting,” says Sipes...
Most employers will match 401k contributions. That's free money they're offering towards your retirement. Let's say your employer matches up to 5%. That means if you contribute 5%, then you're automatically saving 10% of your income for retirement. If you can, open a separate tax-...
There are no guarantees in the market, but this 10% average has held remarkably steady for a long time. So what kind of return can investors reasonably expect today from the stock market? The answer to that depends a lot on what’s happened in the recent past. But here’s a simple ru...
On a fairly regular basis I’m askedwhat would happen were all money to be indexed. I’m afraid I find this question almost completely uninteresting. The reason being, it is never going to happen. What is interesting to me is that only ~33% (so I’m told) is currently being indexed...
Below are some statistics on money habits that will hopefully get you into better financial shape. 1. The average American household has $132,529 worth of debt. The average American household, that doesn’t have a mortgage, is $132,529 in debt. But, if you factor in those with a mortga...
In contrast, if you have a low interest rate on your mortgage loan, it may be worth it to focus on other financial goals that can give you a better return. That said, here are three ways to help you pay down your debts faster: ...
Think about it; in reality, “owning” a huge and expensive mansion adds nothing to your wealth if you owe exactly what you paid, and the same can be said for cars, boats, and other big toys. And if you owe a lot of money on credit cards or student loans, that amount can easily...