Saving for retirement would be a lot less confusing—and probably more achievable—if there was one ideal number to strive for. But that's not how it works, and even the simple formulas that people rely on change without warning, making it harder to secure a big enough nest egg. What we are sure of is that we're not saving enough, according to nearly every survey released on the subject. More than half of Americans (55 percent) don't have enough saved to cover basic living expenses in retirement, says one study. Forty-five percent have nothing saved at all, according to another survey. And a third found that while Baby Boomers wanted to have $45, 500 in annual retirement income, they have only saved enough to provide $9, 129 a year. Those are dismal statistics and are probably even more worrisome once you hit that half-century mark and retirement is closer at hand. Is there any way to tell if you're on the right track? Related: The Best States for Retirement 2016 "As for how much money a person should have, it's not as straightforward as it may seem, especially for a 50 year old, " says James Saulnier, a certified financial planner in Fort Collins, Colo. "One must evaluate their income needs in retirement and how much of that is going to be covered with Social Security benefits, pensions and annuity income. "
53 per hour Median Wage (US)* $46, 360 yearly $22. 29 per hour City College entry-level wages of graduates: $43, 090 (2014-2017)** Expected Growth (MT)* 22% Expected Growth (US)* 9% *Bureau of Labor Statistics, Office of Employment Projections; MT Dept.
All driving records together on the same policy, will have an impact on your premiums, and while you may share the discounts, you'll also share the risk. So, if your teen gets a ticket, your premiums will likely go up, and typically from between 5% and 20%. Can a teenager buy their own insurance policy? They certainly can, however, it's important to be aware that some states have different laws surrounding a teenager's ability to sign for insurance. In some cases, a parent may have to co-sign, and there is little chance that doing it this way will be any cheaper, in fact, it's likely to result in higher premiums when compared to adding a teen to an existing, parent or guardian's car insurance policy. Ultimately, there are costs involved with adding a teenager to your car insurance policy, but it's the cheaper option when compared to them having their own policy, and as insurance is a necessity, it's just something you have to accept. To find out more about adding a teenager to your car insurance policy, contact an experienced insurance professional.