Some Numbers Are Hard to Believe – Like These!
1.32 billion people log in to Facebook every day. Apple has now sold over 1 billion iPhones. Google processes 1.2 trillion searches every year.
And – perhaps the most difﬁcult to believe of them all – the world hotdog eating record stands at 70 dogs in 10 minutes. I apologize ahead, but just visualize that. Seven hotdogs down the hatch every minute.
Here’s another number that’s almost beyond comprehension: 56% of Americans have less than $10,000 in retirement savings. You may be thinking – how can that be? Sadly, it’s true. Here’s another number that’s hard to… swallow (again, I apologize). One out of 4 Americans 65 and over rely on Social Security as their only source of retirement income. Yes, you read that right – 25%! It’s no wonder that 60% of Baby Boomers are more afraid of outliving their money than dying.
Why share these hard to believe numbers? To motivate you – at whatever age you are today – that you can start saving more right now. If you want to have a million dollars at the age of 65, how much do you need to start saving every month? That depends on your current age. If you’re 25, you’ll need to save a minimum of $158.12 per month. At 35, the amount jumps to $442.00 per month. At 45, it’s $1,317 monthly. At 55, you’ll have to save $4,882.00 per month. And at 60, you’d have to save $12,913.00 every month.
How much do you need to save to hit your goals? What’s the right ﬁnancial vehicle to help you do it? Those are important questions. Contact me so we can discuss how I can help you meet your financial goals.
Sources: Zephoria: “The Top 20 Valuable Facebook Statistics.” 7.26.2017
The Verge: “Apple has sold over 1 billion iPhones.” 7.27.2016
Internet Live Stats: “Google Search Statistics.”
Time: “1 in 3 Americans Has Saved $0 for Retirement.” 3.14.2016