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How To Set Money Boundaries With Your Adult Children

Turn Your $50K Salary Into a $1M Retirement Fund

Turn Your $50K Salary Into a $1M Retirement Fund GOBankingRates 2 hrs ago © Paul Bradbury / Getty Images Couple sitting in hammock. Ask Americans why they don’t have money set aside for their future and many will answer that saving for retirement isn’t a priority for them. At least, that’s what 40% of respondents in a recent GOBankingRates’ survey said when asked why they didn’t have any retirement savings. There could be plenty of reasons why saving for retirement isn’t key for them, but a big one might be that many people are prioritizing other expenses especially if they need to stretch a small paycheck. The median household income in America is $61,372, according to the latest figures from the U.S. Census Bureau. That means half of all household incomes in the country are lower.

Turn Your $50K Salary Into a $1M Retirement Fund

12 passive income ideas to help you make money in 2021

14 passive income ideas to help you make money in 2021 Bankrate 3/4/2021 © Westend61/Getty Images A young White woman films a meal prep for Youtube Passive income can be a great way to help you generate extra cash flow, and the economic upheaval largely caused by the COVID-19 crisis is a testament to the value of having multiple streams of income. With the pandemic throwing the job situation of many Americans into disarray, passive income helps you bridge the gap if you suddenly become unemployed or even if you voluntarily take time away from work. Popular Searches With passive income you can have money coming in even as you pursue your primary job, or if you re able to build up a solid stream of passive income, you might want to kick back a little. Either way, a passive income gives you extra security.