Wednesday, May 29, 2013

Financial Planning With Your Lunch Money

According to a recent survey, the average American worker spends approximately $2,000 a year eating out for lunch, instead of bringing a brown bag lunch from home.

If you put your lunch money to work in investing,  you will significantly expand your retirement savings for the future.

An employee with a $50,000 annual salary could contribute $3,100 (a deferral of 6.2% of salary) into his or her 401(k) account.  Over 20 years assuming a 7% return, that contribution would increase to $135,982.  

Food for thought.

Dwight Edward Tompkins, 
Estate Planning Lawyer,
Orange County, California.