That’s a 6.1% increase over last year.
Good thing no one actually wants most of those items (except for maybe gold rings).
A personal finance blog dedicated to discussing such topics as budgeting, asset allocation, 401K, IRA, cash flow, insurance, financial planning, portfolio management, and other areas in personal finance.
This is a first for me.
This Friday I will be teaching a 5th grade class for the school’s “JA In A Day” program. I’m excited and nervous at the same time.
The program is pretty cool. I’ll post my notes later. Right now I need to get a firm grip on the presentation.
Saw this and thought I would share it…
I have nothing to say.
I honestly cannot believe what we have just done (again).
The maximum dollar amount an employee can contribute to their 401(K) is increasing $500 to $17,500 for 2013. Those who are 50 and older can contribute as much as $23,000.
Let’s break down $17,500.
$1,453.33 per month.
$47.95 per day.
$1.9977 per hour (based on 8,760 hours per year).
$.0333 per minute.
Better get to saving.
Oh, and in case you’re interested…
The geometric average monthly rate of return for the S&P 500 Index since 1926 is .779%. If a person invests the maximum of $1,453.33 per month for 25 years and gets that kind of return, they could have $1.75 million.
Something to think about.