A trainer's retirement plan.QA I am a 41-year-old ex-felon. I've been out of the workforce for 20 years. I'm pursuing a career in the fitness industry as a personal trainer personal trainer person n → (persönlicher) Fitnesstrainer m, (persönliche) Fitnesstrainerin f . For someone my age and in my position, what would be a viable retirement savings plan Noun 1. retirement savings plan - a plan for setting aside money to be spent after retirement pension account, pension plan, retirement account, retirement plan, retirement program, retirement savings account ? R. Dixon Via the Internet At age 41, you will probably work another 20 to 25 years before you retire, so it will be important to create a savings strategy that can help make up for all the years you weren't saving. Choosing a career as a personal trainer means that you will have to work extra hard to establish a wage that gives you the best opportunity to retire comfortably. The American Council on Exercise The American Council on Exercise (ACE) is a nonprofit fitness certification and education provider. Established in 1985, ACE now operates as a full-service entity with a staff of more than 40. (ACE) says that in 2003, the typical salary range for a personal trainer was $30,000 to $35 000. The average hourly wage was $37 per hour. ACE also found that the minimum hourly wage was $7 and the maximum was $75. As you can see, salary potential can vary widely. You can begin saving for retirement by placing $3,000 per year into an IRA Ira, in the Bible Ira (ī`rə), in the Bible. 1 Chief officer of David. 2, 3 Two of David's guard. IRA, abbreviation IRA. account. And if it earns 8% annually until you turn 65. You will accumulate Accumulate Broker/analyst recommendation that could mean slightly different things depending on the broker/analyst. In general, it means to increase the number of shares of a particular security over the near term, but not to liquidate other parts of the portfolio to buy a security $2t6,318 before taxes. You may also want to consider taking out a variable life insurance policy. Variable life policies are more expensive and have some investment risk, but there are conservative investment choices available within them. So given the fact that you will need life insurance anyway, it could be the best way for you to build money for retirement--Matthew S. Scott Mail your money management questions to Ask B.E., BLACK ENTERPRISE 130 Fifth Ave., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY 10011 or send an e-mail to scottm@blackenterprise.com. |
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