The article has been automatically translated into English by Google Translate from Russian and has not been edited.
Переклад цього матеріалу українською мовою з російської було автоматично здійснено сервісом Google Translate, без подальшого редагування тексту.
Bu məqalə Google Translate servisi vasitəsi ilə avtomatik olaraq rus dilindən azərbaycan dilinə tərcümə olunmuşdur. Bundan sonra mətn redaktə edilməmişdir.

How much savings do you need in the USA at every age

According to Bank of America, 16 thousand millenials from 23 to 37 years on average own savings of $ 100 thousand or more.

Фото: Depositphotos

This is good data, given that by 30 years it is necessary to strive to save your annual salary on savings. The average income for Americans aged 25 to 34 years is $ 40 325, which means that savings of $ 100 thousand are far ahead of the schedule.

How much should you save at a certain age

Although the amount you have is enough depends on many factors, Kimmy Green, an expert on personal finance, knows a simple formula that will help you understand if you have enough savings at a certain age.

In 20 years try to save 25% of your annual salary.

“Just make sure that your living expenses do not exceed 75% of your gross income,” says the expert.

In 30 years, you should have time to set aside the equivalent of your annual salary. If you earn 50 000 dollars a year, try to have savings of 50 000 dollars when you reach 30 years.

In 35 years: two annual salary.

In 40 years: three annual salary.

By 45 years: savings must be consistent with four annual salaries.

In 50 years: 5 annual salaries should be on the account.

In 55 years: 6 annual salaries should be on the account.

In 60 years: the amount of savings should be 7 annual salaries.

In 65 years: savings must match 8 annual salaries.

Green's schedule is similar to the schedule recommended by the pension plan provider. Fidelity Investmentswhich says that the basic rule is to have the equivalent of your salary saved at the age of 30 years, and have savings that correspond to 10 annual salaries if you want to retire in 67 years.

“While it may sound incredible today, if you've been saving this money starting at age 20, it's not as difficult as it sounds,” says Green.

Miscellaneous money pension savings Educational program

Read also on ForumDaily:

How Russian pizzeria chain Dodo Pizza conquered the American market

Where can I work as a secret buyer

How 82 is a retired woman after 10 years of illegal life in the United States opened her business

How much would you have earned today if you invested 10 years ago in giant companies

8 ways to make money and save with neighbors

11 ways to make money online without fraud

How many Russian stars get for concerts in the USA, and who organizes them

Do you want more important and interesting news about life in the USA and immigration to America? Subscribe to our page in Facebook. Choose the "Display Priority" option and read us first. And don't forget to subscribe to ForumDaily Woman and ForumDaily New York - there you will find a lot of interesting and positive information.



1051 requests in 2,095 seconds.