Les will start saving $150 a month for retirement through his company's retirement plan. His employer will an additional $0.50 for every $1.?
2014-05-04 8:08 pm
At the end of this month, Les will start saving $150 a month for retirement through his company's retirement plan. His employer will contribute an additional $0.50 for every $1.00 that he saves. If he is employed by this firm for 30 more years and earns an average of 10.5 percent on his retirement savings, how much will Les have in his retirement account 30 years from now?
回答 (3)
2014-05-04 8:35 pm
Not going to try to figure that one out......but Les would be a fool not to take full advantage of it and to increase his monthly contributions each time he gets a raise!!!!
2014-05-05 4:34 am
Any employer worth his salt would severely limit what they contribute. They're not there to make it easy for you and expensive for them. Still, make sure you contribute at least the amount it takes to get your employer's funds, not more than 1-2% of the first 3% of your own contributions, because that is free money.
2014-05-04 11:23 pm
If there's a guaranteed 50% return right off the bat, plus an average return of 10.5% (which is very good), Les should be saving a whole lot more than just $150 per month.
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