How to Fix a Yard Full of Weeds

Are you inviting weeds to live on your lawn? If you’re not practicing good lawn care, you are!

You can fix a weedy, thin or even patchy lawn just by providing good care and giving the lawn what it needs. While it takes some effort on your part, a beautiful lawn is well worth it.

What Causes Weedy Lawns?

Lawn weeds appear because the grass lacks proper care. If you’re not providing good, necessary lawn maintenance, you can’t expect to grow a lush, healthy lawn.

Thin lawns are an open invitation for weeds. Mowing your lawn correctly and at the right height keeps the lawn dense and helps prevent some weed growth.

Lawn weeds are usually in one of three broad categories:

1. Annual weeds: Produce seeds in one season. Grasses, like crabgrass and witchgrass, are good examples.
2. Biennial weeds: Produce seeds in one season. Wild carrot and thistle are good examples.
3. Perennial weeds: Emerge, grow and produce roots that allow them to overwinter, become dormant and begin growing again the next spring. Dandelions are a good example.

You can take a little time to learn more about various types of lawn weeds and their control.

What Can You Do?

Proper care means doing a few things for your lawn during the growing season.

Dethatching and Aerating  

Thatch is the layer of dead grass, roots and stems that build up lawn soil. A thin layer of thatch isn’t a big deal, but if you allow it to build up to 1/2 inch or thicker, it can block water from absorbing into the soil and reaching grass roots. Causes of thatch can include excess nitrogen or even too much water, but you can take care of thatch by using a cavex rake for small lawns. Larger lawns require you to use a vertical mower to cut through the thatch. Proper aeration also helps prevent thatch.

Aerating the soil means using hand or power tools to push a narrow tube into the soil, remove a short column of soil and leave an open hole. This process is particularly necessary on high-traffic lawns or certain soil types, like clay. How often you aerate and dethatch depend on your soil and other factors.

Applying Fertilizers

Timing is important when fertilizing your lawn because lawn fertilizers are applied to warm-season and cool-season grasses depending on their growth cycles. You can apply fertilizer to warm-season grasses in mid-spring through summer and cool-season grasses in late summer or fall.

Fertilizing at the appropriate times ensures your lawn gets the nutrients it needs. You can set up your own program for fertilizing your lawn based on your location and the type of grass growing on your property.

Watering  

When and how to water your lawn depends on several factors, such the type of soil and grass that make up your lawn and the climate where you live.

You can use a few tests to determine if you lawn needs watered.

• Screwdriver test: If you can easily push a long screwdriver at least 6 inches into your lawn, it is most likely moist enough.
• Rolled grass: Look closely at your grass. If the leaf blades are rolled and grayish in color, then your soil is too dry.

Most lawns need about 1 ½ inches of water per week, but this can vary based on the factors above, so you need to learn more about proper watering practices to maintain a healthy lawn.

Once you understand proper lawn care, you can snuff out most of the weeds. While you might not be completely weed-free, a lush lawn is achievable!

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A Pluming DIY: How to Fix a Clogged Toilet

Clogged toilets can be a scary inconvenience, but in most cases, it’s an easy problem to fix. This process is less complex than replacing a toilet altogether or even fixing the components inside the tank. Clogs can happen suddenly when a user attempts to flush an object that’s too large, or they can build up over time and happen unexpectedly. Learn how to unclog a toilet with this quick tutorial.

Step 1: Shut off the water supply by turning the knob at the base of the tank where the plumbing connects to the wall. You should hear the water stop running; if you still hear it, tighten the knob. This will prevent the toilet from overflowing.

Step 2: Gently position the plunger at the base of the toilet bowl with the plunger centered over the opening. Press in gently to begin as the air in the plunger can cause the contents of the bowl to spray if you push in too vigorously.

Tip: Use a bell-shaped rubber plunger with an extension flange at the base. These may be a bit more expensive than the basic rubber domed shaped plungers, but they work better and are worth the cost.

Step 3: Maintain a constant position with the plunger to avoid breaking the seal over the toilet bowl opening. Press the plunger up and down quite vigorously for about 30 seconds.

Step 4: Check to see if the clog has cleared by taking the lid off the toilet tank and lifting the flapper valve. The water should flow down from the bowl into the pipes easily. If it does not, your toilet is still clogged. DO NOT FLUSH until you are certain the clog has cleared. Use the flapper valve until then.

Tip: If repeated plunging forces all the water out of the bowl and your toilet tank is empty, open up the water supply valve long enough to let the tank refill, then close it again. It’s important to keep water in the bowl to maintain pressure and indicate whether the clog has cleared.

Step 5: Continue plunging and testing (alternating between steps 3 and 4) until the clog is clear. You’ll know the clog is clear either when the blocked material in the bowl drains easily and rapidly. A slow-emptying bowl indicates that some blockage is likely still intact.

Step 6: Your toilet bowl should be empty when the clog is clear. You can turn the water supply back on and push the handle to refill the bowl, then flush again to test. Turn off the water supply to the tank after this test flush just in case the blockage hasn’t actually cleared. This will help prevent overflowing. If flushing does not proceed as normal, your toilet is still blocked.

Step 7: When plunging doesn’t work, you may need to use a plumbing snake or toilet auger to get the job done. You can also call a qualified local emergency plumbing company to diagnose the issue and fix your clogged toilet.

Author Bio:

Leo is the owner of Northridge-based plumbing company Rooters On-Time of Northridge. On his free time, he enjoys writing how-to articles and tutorials to help others.

from Home My Heaven: Home Improvement Blog http://www.homemyheaven.co.uk/2017/05/how-to-fix-clogged-toilet-diy.html

Basic Water Well Maintenance Guide

We’ve asked SimpleWater to share their knowledge about well maintenance and their new product Tap Score. Enjoy, DIY Folks

While we’ve come a long way since the hand-dug wells of Egypt and other ancient civilizations, modern wells are still susceptible to a range of issues that may affect the quality of your home’s drinking water.

Thirty-eight percent of America’s population relies on groundwater for its drinking supply.  Private wells must be properly installed, inspected, and tested on a regular basis in order to ensure groundwater quality. And the thing is… you are responsible for the maintenance and care of your private well system.

If you’re one of the 38%, what can you do to ensure your well water is safe and contaminant-free?

Answer: Quite a lot, actually. The following is a quick and simple how-to guide:

1. Check your well for proper construction and installation.

While you’ll surely be in a pickle if your well was originally constructed in a poor fashion, it’s important to first determine whether you’re at risk of water woes due to the nature of your well’s installation.

There are a few matters to check for here. First, the casing of your well should be capped off by a sanitary seal/concrete cover that stands approximately 12” above ground. This keeps unwanted pests and surface water out. Second, you’ll want to make sure that your well was installed a minimum of 50 feet from your septic tank and at least 100 feet from the septic system’s drainage field, although these distances can vary depending upon state regulations. Finally, the ground surrounding your well should slope away from the well in order to prevent water pooling.

2. Clear the area around your well.

It’s important to keep the area surrounding your well free of undesirable elements, including fertilizers, pesticides, motor oil, and general debris. Any of these examples—including other forms of waste—can contaminate your well if used or stored  in close proximity.

3. Perform regular well inspections.

You should give your well a close look at least once a year, even if you know your well was properly constructed. Over time, cracks and other forms of corrosion can occur that compromise the integrity of your well and the quality of your home’s drinking water. If you observe that there may be an issue, or if it has been over three years since a professional has inspected your well, contact a contractor licensed to perform well inspections.

4. Close off wells no longer in use.

Improperly abandoned wells pose a threat. Those that have not been sealed off can act  as a surface water conduit that might contaminate groundwater. Wells no longer in use can be correctly sealed by a licensed well contractor before they are abandoned.

5. Have your water tested yearly.

Even if your well has been properly built, placed, and has passed all inspections, it is still important to test your drinking water. Off-the-shelf at-home water tests are not usually complete, but they can be useful initial screens, especially if you know what to test for. Tap Score, powered by SimpleWater, is developed with private well owners in mind. Tap Score tests for lead, arsenic, nitrate, heavy metals, pharmaceuticals, and other known well-water contaminants. We test for over 100 contaminants and then provide you with a personalized water quality report, complete with actionable recommendations.

 

Note from the caring folks at SimpleWater —

SimpleWater is a science and health services company educating you to improve your drinking water. We offer the only water testing service with Personalized Health Analysis and Treatment Recommendations

We serve homes, families and businesses asking: “what’s in my water, what does it mean, and how do I ensure the safety of what I’m drinking?”

SimpleWater’s national team of certified laboratory scientists, engineers, health experts and designers provide each customer with a personalized Tap Score Water Quality Report. SimpleWater’s Tap Score is the Nation’s First Smart Water Testing Service for affordable and informative contaminant screening and personalized treatment recommendations.

Call Anytime:: 888 34 MY WATER (+1-888-346-9928)

Learn more about Tap Score and Find Out What’s In Your Water at MyTapScore.Com

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Adjustable-Rate Mortgage vs. a Fixed-Rate

If you’re in the market for a home loan, you may be wondering about the difference between an adjustable-rate mortgage (ARM) and a fixed-rate mortgage.

In an ARM, the interest rate adjusts periodically, depending on the direction of interest rates. ARM interest rates are typically low for the initial period. After that, they go up or down, depending on the direction of rates. When you see information about an ARM, you will see the initial period first, followed by how often it can adjust after that. So when you see 3/1 or 5/1, you are being told that the initial interest rate will last for three years or five years, respectively, and can reset every year after that.

ARMs usually carry a cap beyond which the interest rates can’t rise.

A fixed-rate mortgage, on the other hand, always carries a fixed interest rate. If you sign the mortgage paperwork with a fixed rate of 4 percent, you will be paying 4 percent for the entire life of the loan.

Interest rates are important because they are a factor in how much a mortgage payment costs. The lower the interest rate, the lower your monthly cost.

Both ARM and fixed-rate mortgages have a standard loan term of 30 years.

Home mortgage borrowers should know that there are pros and cons to each kind of loan. Many of them depend on your circumstances.

Adjustable-Rate Mortgages

If you’re not sure about an ARM, here are a few scenarios to consider as you make your decision.

Pros

1. If you plan to be in a home five years or less, ARMs can be your friend. Why? Because most ARMs come with an initial period of low interest rates. They don’t start rising for three, five or seven years. This means you will be paying a low interest rate as long as you are in the home.
2. Your payment can fall if interest rates decline. In the 2008-2015 period, for example, interest rates trended pretty steadily downward. Holders of ARMs in that period didn’t need to do anything to make their payments fall — they did so automatically.
3. If you will be in a home a short time and have an initial low interest rate ARM, you can save the money you would otherwise have spent on a fixed-interest rate mortgage with a higher rate.

Cons

1. ARMs can end up costing you when interest rates rise. We are in a period of rising rates now. If you planned to move after five years and your plans change, you may receive a rude shock when the interest rate resets and suddenly you’re paying more. Homeowners interested in ARMs should make sure their budget could withstand the rise to the lifetime cap. Otherwise, they may end up with a mortgage they can’t pay.
2. Depending on the ARM terms, the climb in rates can be sudden. If there is a lifetime cap of 6 percent, for example, it doesn’t necessarily take place over the course of a lifetime. It can rise 6 percent in one year. So that low introductory rate of 3 percent in 2017 can become 9 percent in 2022. That’s a considerable rise in the monthly budget.
3. ARMs are complicated to understand. The loan will be full of terms like lifetime cap, margins, initial rates and so on. They are more complicated than fixed-rate mortgages.

Fixed-Rate Mortgages

With a fixed rate mortgage, you’ll have more predictability — but you could be locked into a rate higher than the going market rates:

Pros

1. If you get a fixed-rate mortgage, your mortgage rate is constant. There are no rude shocks ever, no matter what interest rates do. They can rise to 18 percent — which is historically extremely high — and you’d still be sitting pretty. Fixed-rate loans are best for people seeking financial stability and planning to stay in their home more than seven years.
2. Because you pay a fixed amount, you will be able to plan monthly budgets much more effectively. ARMs rely on how much interest rates rise or fall, which is difficult, if not impossible, to predict. Your mortgage budget will always be predictable with a fixed rate.
3. If you lock in a fixed-rate mortgage when mortgage rates are low, your housing payments will be very low as long as you live in the home. This protects you from housing payment fluctuation. Unlike renters or ARM holders, no one can raise your mortgage.

Cons

1. The drawback to fixed-rate loans is that they aren’t flexible. There is no introductory rate that allows new home owners to pay less the first three or five years.
2. If you buy a home in a period of falling rates, your fixed-rate loan might become a relatively high interest-rate loan, given the environment. While they can be refinanced, it is expensive to do so. Many lenders charge points and fees to refinance.
3. Some fixed-rate mortgages can’t be paid off quicker than the term, or can only be paid off with a penalty. Be sure to read the fine print to make sure that there is no penalty for pre-payment.

Choosing between an ARM and a fixed-rate home loan can be daunting. The best choice depends on your circumstances. Be sure to consider the pros and cons carefully.

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How to Save for Retirement When You’re Self-Employed

We quit working our day jobs several years ago to pursue the dream of writing and working on this blog full-time — however, we also do several other freelance contract jobs, such as writing for companies, freelance construction work and more.

Most employers offer a contribution match to their 401(k) plan to help employees plan for retirement, and that is what most people rely on for their financial future.

But what do we self-employed freelancers do to prepare for those golden years? Are there any retirement options for the self-employed that will grow our savings to the amount needed for a comfortable retirement?

There are several options available for how to save when you’re self-employed, including both conventional and nonconventional ways.

Retirement Plans for the Self-Employed

Though many people are unaware of this, the Internal Revenue Service (IRS) states that self-employed freelancers actually have many of the same retirement options as employees.

• The Simplified Employee Pension (SEP) plan allows you to contribute up to 25 percent of your net earnings, not including the contributions for yourself, and the funds are tax-deductible.

• The 401(k) Plan is available for self-employed freelancers as an individual plan. You can contribute up to $18,000 annually, plus an additional $6,000 each year if you are age 50 or over. These deferrals can be either pre-tax or as Roth contributions.

• Savings Incentive Match Plan for Employees, also known as the SIMPLE IRA Plan, is available to small business owners with employees. You can contribute up to $12,500 annually. If you’re age 50 or older, you can add $3,000 in contributions per year. This plan also allows you to contribute a 3 percent matching contribution or 2 percent fixed contribution.

• The SIMPLE IRA Plan for the Sole Proprietor treats you as the employer and the employee when you file a Schedule C form. The plan allows you to defer up to $12,500 and an additional $3,000 if you are age 50 or older. However, you cannot exceed your net earnings from your business sponsoring the plan.

• Traditional or Roth IRA allows you to roll over your 401(k) funds from your previous day job to save for retirement. You can contribute up to $5,500 and an additional $1,000 if you are age 50 or older. These IRAs offer tax advantages, including a tax deduction on traditional IRAs and tax-free withdrawals during retirement on Roth IRAs.

The best retirement option for self-employed people is based on whether or not your business has employees – however, both the SEP and the individual 401(k) plans allow your earnings to grow tax-deferred until you are ready to withdraw the funds. Speak to a financial advisor or tax consultant before making contributions to ensure you are going to meet your financial goals.

Unconventional Income Streams for Retirement

Financial retirement accounts are not the only way to increase your self-employed retirement savings. There are other options available, including the one we are using to build a passive income stream to last a lifetime – blogging.

• Blogging allows us to reach a wider audience and share our knowledge and expertise. As we are building our site and our subscriber list, companies pay us to run their ads and/or include affiliate links for products we use and trust. When it comes to increasing our income and learning how to save for retirement when self-employed, blogging has proven to be a lucrative plan for us.

• Network marketing and direct selling through a legitimate company can result in earned income as well as passive income. Most companies offer a compensation plan for not only selling products, but for recruiting others to distribute the merchandise. The network marketing model promotes entrepreneurship and usually includes free training from the direct selling company.

• Renting houses or apartments is an option that will provide a monthly income from paying tenants. Depending on the location, a rental property can garner you an extra $200 to $1,000 or more each month. Renting property also has its tax advantages, and you can increase the monthly rent over time, or after major repairs or additions. 

• Accruing real estate takes the above option one step further. Not only can you purchase and rent out houses and apartment buildings, but you can rent out commercial real estate buildings to businesses that will provide you with an additional income stream. You can buy shares in a real estate investment trust or have direct ownership of the property. You will want to consult an investment advisor for the best option for you and your financial retirement goals.

Consider combining a couple of the retirement plans listed above with one or two of the unconventional income additions that fit into your schedule to help you save for retirement while self-employed. You can still retire with a plan in place without going back to your old day job — just keep an open mind and be willing to hustle to make it happen.

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Key Driveway Renovation Tips to Preparing Your New Driveway Makeover

Curb appeal is something all homeowners strive for, but achieving that look can be time-consuming, confusing, and just plain expensive if you don’t have an effective plan. One of the best places you can spend money where curb appeal is concerned is giving your driveway a makeover. By freshening it up, you’ll completely transform how your house looks. With that in mind, we’ve put together a few key driveway renovation tips that you can use for your driveway makeover. Let’s take a look. 

1.  
2. Experiment with Different Materials

If you’re considering giving your driveway a makeover, it’s also recommended that you think about using different materials. Just because you have asphalt at the moment doesn’t mean you have to stick with it. Maybe you’re ready for a big change such as poured concrete or something even more intricate such as interlocking brick. Now is the time to check out the various materials and pick one that amps up your curb appeal and achieves the look you’re going for.

Additionally, it’s a good time to think about the layout and size of your driveway. Depending on where you live, regulations, and the by-laws, you may also be able to expand the size of your driveway. This could warrant a makeover right there! Perhaps, you’ve always dreamed of that circular driveway, or one that allows for more parking. Now is the time to think about the configuration and make your design changes before you begin any drive renovation.

2. Sealing Your Driveway

If your driveway is still relatively new and isn't in really rough shape, then you're lucky because your options are less expensive as you can give it a pretty cheap and simple makeover. In order to get the most bang for your buck, you'll want to look into resealing the driveway. You can do this on your own or hire a professional to come in and do it for you. Keep in mind, that any cracks or holes must be fixed before you apply the sealant.

Why seal your driveway?

First of all, it will instantly improve the appearance of the asphalt. Because these sealants are a thick black material, it will bring it back to new condition as far as looks go. As an added bonus, it also helps to reduce cracking in the future, which will allow it to look good for a longer period of time. These sealants actually close the pores that are in driveways and prevent water from seeping in and causing damage.

3. Keeping the Concrete?

If you happen to have a concrete driveway that has seen better days, but you’d really rather not change it, then there are ways you can get it back to new. One of the most unsightly things that can happen with concrete driveways is cracks. They can be quite small or rather large and deep. These cracks will age your entire exterior and give it a rundown feel.

While it would be great to avoid these cracks all together, unfortunately it's just not possible. Cracking occurs when the ground freezes then thaws. Obviously, if you are in a climate that experiences cold winters and hot summers, this will be extremely difficult on your driveway. The cracks usually start off small and just keep expanding from there.

One option to fix this is by placing a new layer of concrete on top of the old one. When doing this however you need to cover the entire driveway otherwise you’ll have patches of new concrete on old concrete. If you do want to just seal the holes with new concrete you could then work on painting over the driveway in one colour. This will help to even out the look and make it all one colour, hiding the new concrete and blending it in better.

4. Resurfacing Asphalt

Another way in which you can give your driveway a makeover is to resurface the asphalt. During this process, a professional takes the top layer off your driveway and then replaces it with a brand-new layer. This is much faster, easier, and cheaper to do then ripping up the entire driveway and starting from scratch. What’s great is that you won’t see any patches and the driveway will be nice and level/even once again. It will look like a whole new driveway when the process is finished.

5. Choosing to Re-Pave the Driveway

In the worst-case scenario, you’ll be looking at re-paving your driveway completely. Usually, this is reserved for driveways that are 20 years or older, have been sealed numerous times over the years, have large cracks, potholes, and are uneven. At this point, the driveway has basically reached its maximum lifespan. If you’re looking to repave your driveway, you need to start by:

Choose your new pavers and get them positioned and secured into place using a layer of concrete to push them into.

 

• Pulling up the old pavers to make way for the new pavers.
• Evening out the ground to ensure its level for the new pavers to be placed down.
• Work out the square meterage you need to ensure you have enough pavers for the job.

It’s important to remember that you mustn’t drive on your driveway for a few days as this can create the pavers to become loose or move into awkward positions.

What If You Don’t Have Money For A Professional?

If you want to renovate your driveway but you don’t have the funds to bring in a professional here’s some things to think of:

• Add flowerbeds beside the driveway to help give it colour and beauty throughout the year. The flowers should be those that are able to withstand different weather changes and be exposed to the elements. They should also be low to the ground growing (unlike roses) to ensure your car won’t get damaged if they get too big and rub against the car.
• Depending on your driveway, you can also add a layer of smooth rocks or pebbles on top of the current driveway (if it’s dirt related) to give it more texture and appeal. Pebble driveways look great and are a cheaper alternative to hiring a professional.
• Repaint the driveway if it’s a little outdated or if you want to upgrade the look and don’t have the money. Many people opt to repaint the driveway to help give it a more modern look without the expense attached.
  

Don’t Be Afraid to Step Outside the Box

When it comes to a driveway makeover the best advice is not to be afraid to step outside the box. Start by setting your budget, then think about what look you’re going for and the practicality. Before you know it, your new driveway will add the curb appeal and usefulness that you’ve long desired.

Jimmy Stanley

Jimmy Stanley founded PSI Paving in 2004. Their expert team of paving contractors are considered the best in the business. Honesty is a hallmark at PSI Paving, so you can rest assured that our team will take great care every step of the way to give you the outcome you want.

from Home My Heaven: Home Improvement Blog http://www.homemyheaven.co.uk/2017/04/key-driveway-renovation.html

Financial Planning for Twenty Somethings

Your twenties are an exciting time for many reasons. You graduate from college and enter the real world. You get your first job. You are likely on your own in an apartment for the first time. No parents. No roommates. You may develop a relationship with a significant other and get married.

It’s also exciting because you set your own, individual financial house in order. Sure, how your parents handled money is probably a model. I know it was for me. But in your twenties, you get to decide what you’re comfortable doing. Do you want a house? Do you want to travel before starting a family? Do you want to move halfway across the country? It’s all up to you.

That said, there are many things I wish I’d known about financial planning when I was in my twenties. Standing at the ripe old age of 32, I wish someone had emphasized to me what I’m about to emphasize to you.

Here’s a look at the three basics of financial planning for twenty-somethings. Been there. Did that.

Get Your Debt Under Control

What do I mean by getting your debt under control? Get monthly debt payments to a manageable amount. The reason? A lot of people have racked up credit card debt or have student loan repayments kicking in. Either, or both, can leave them paying every single dollar of disposable income to debt service.

Disposable income, by the way, is the amount you have left over after basics like rent, food, utilities and transportation.

If you’re paying every single dollar to debt service, you can’t possibly save for a vacation, a down payment on a house or retirement. The problem is exacerbated by the fact that, in your twenties, your income is probably pretty low.

At 25, I had $5,000 in credit card debt and $25,000 in student loans. My first job paid $30,000 — not a princely sum. I got a personal loan at a lower interest rate and transferred my credit card to it, which lessened my monthly payment immediately. I applied for and got a student loan repayment plan based on my income. Less per month there. I was paying a total of $329 on debt payments every month. It went down to $225.

With the money you save from getting your debt under control, you can start to build wealth more effectively. You want to pay off your debt responsibly, but don’t starve yourself of every penny just to pay it off.

Build Good Credit

You need good credit. Eventually, you will want a mortgage or a car loan. When you apply, banks and other lenders pull your credit score. If your credit score is average or poor, you may not get approved. If you do, poor or low credit may mean you’ll be charged a higher interest rate than people with excellent credit.

A higher interest rate means you’ll pay more every month and that money goes to less of the purchase. In addition, more and more landlords and even employers are using credit scores as a proxy for responsibility. They use it to make rental and hiring decisions.

How do you build good credit? First, pay your bills on time. Always. A large part of a credit score is determined by payment history. Set up your monthly bills for autopay so you don’t forget to make out checks or mail them when they’re due.

Second, ironically enough, if you have no debt, you need to get some. Seriously. Part of what lenders look at is your ability to use credit responsibly. If you’ve never demonstrated that, which you won’t if you’ve had no credit card or bank loan debt, it will ding your credit score. They also don’t like people being maxed out. That will hurt your score even more.

If a bank will give you a credit card with, say, a $500 line of credit and you use $200, you’ll be sitting pretty. You use credit, but you don’t go wild. And you pay on time.

Start a Retirement Account

I didn’t care about starting a retirement account until I hit 25. Then, I read an article that made it clear to me how important it was. It said this: if a person saves $3,000 every year from the time they’re 21 until the time they’re 30, they’d have $227,111 saved by the age of 60, assuming a six percent rate of return annually. That’s more than a quarter million dollars. And that’s without doing anything else. That’s $250 per month. I could do it by the time I hit 28, at least.

The reason the figure grows to be so awesome is that time and compound earnings work like a type of magic. Compare what happens if you don’t start saving until the age of 41. You’d need to save $9,621 each year until you’re 50 to get the same amount by the age of 60. That’s nearly $802 every month. That’s a lot of money, and it’s beyond most people’s grasp.

Plus, if you have an employer-sponsored retirement plan, please, please take advantage of it. First, money is taken out pretax. That means if you make $30,000 and have two percent taken out for a 401(k), you’ll only be taxed on $29,400. It can, depending on your income, lower your tax bracket.

If your employer offers a matching 401(k), please, please, please take advantage. You’re leaving money on the table if you don’t. That two percent from you is $600 per year. With a matching two percent, it becomes $1,200 per year. Sweet.

 

In your twenties, you’ll have lots of adventures but have lots of financial planning too! The financial planning you set up now will let you get debt under control, have good credit and save for retirement.

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