Discussion Board 2

5 days ago

Elizabeth Montgomery

Retirement Savings

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Elizabeth Montgomery

Friday April 17, 2020

Math 115 

Andrea Smith

    I knew I wouldn’t reallly be working until I am out of school.  By delaying my income by just one year I will need to save an extra $500 a month approximately 22% more.  I also changed the monthly income based on different salaries and different jobs. That number really changes the amount of time I need to work in order to meet my retirement goals.  I have determined the less debt I incur now while going to school will significantly impact my future savings. I guess I will be driving my 18 year old car for ten more years.   

What I learned by doing these calculation is that you need to learn how to save money.  Ways that you can save money is by not spending your money on junk. Another example would be not to go shopping.  Use your money on things you actually need for example paying for your house, buying food, paying the electricity bill, and paying for your car.  Maybe another way to save money is put your money in the bank so you are not tempted to use your money. Major in something in college that you can actually get a job right away.  Also just save your money. Don’t go out to eat because that can be a waste of money and expensive. Instead cook a meal at home so you are saving money. Maybe go to community college and save money so you will have enough money for graduate school if you want to go.  Or go to college instate so it will not be expensive. Just be careful on what you spend your money on and you will have a succefull life. 

 

Word Count: 307

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