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There’s a good reason you should invest 15% of your income. The math breaks down as follows. According to Ramsey, the median U.S. household income is about $70,800.
If investing 15% of your income sounds like more than your budget can handle, you can start with a set dollar amount and be consistent about it. ... Investing even a few dollars each month can ...
According to the Ramsey Solutions post, the recommendation is to invest 15% of your household income for retirement. The article uses the example of a household income which is $80,000 annually.
Investing in your employer’s 401(k) plan is one of the best ways to make $100 work for you. The money is deducted from pretax dollars, which can reduce the money you might owe in April.
Track Your Transactions. Step 4 is to list every movement of money throughout the month. “This helps you stay accountable to yourself, your spouse (if you’re married), and your money!”
Step 4: Invest 15% of Your Gross Income. ... Regardless, paying off your home early will feel great, save you thousands of dollars in interest and allow you to be truly debt-free.
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