Can someone explain how compounding works in relationship to 401k's and retirement accounts?
Answers: It's a great tool.
You start with a set amount and interest is paid on that amount. The next time the calculation takes place the interest is figured on the original amount plus the interest, this computation continues for the life of the investment.
There are many sites that offer calculators to show how a small investment with periodic deposits will make one a millionare in a reasonalbe amount of time.
Take advantage of it.
These links may do the trick:
The Rule of 72
http://beginnersinvest.about.com/cs/21ju...
Compound Interest Calculator:
http://www.moneychimp.com/articles/finwo...
It's the same as with any account that draws interest and/or increases with the flow of the stock market. When you just have 20 bucks in there, when you are 21 the interest on that might be .35 cents. But as it grows, when you have 80 thousand dollars, NOW you are making interest on not just 20 bucks but on 110,000 bucks. At about this point, once you are dealing with bigger dollar figures, now your interest might amount to 15 thousand a year or more (once in a while less) and the numbers just get bigger and bigger. So now you are making money not on 110k but on 125k. And so on and so on. That's why it's critical to start saving young because you need the TIME to make this happen. If people were just aware of this and would act on it, they could easily be a multi-millionaire at retirement age. But most people mess around and are just in spend mode all the time and don't save and/or start to late. The "Magic of Compounding Interest" is largely a function of time.
Do I qualify for Unemployment?
Can I get laying-off if I had to make available up my job to perfectionism full time for a handicapped family accomplice? It is hard to find time to find out of the house at all, I'd similar to some advice earlier I go to the severance office...Answers: There is no confident answer for this, Apply and see cause nearby are many different rules near this. I don't know if its state controlled or Federal. If its state, all states may enjoy different rules.
G00GLE your states employment security commision. I can't speak about you for sure since I doubt we are in duplicate state, but I quit my job and I am getting dismissal
How much does it cost for a family of four for groceries per week in Canada?
Answers: That has a couple of scenarios:
Scenario 1. Parents (male, female) and 2 kids (ages under 5). Grocery list includes meat three times a week, vegetables, carbohydrate milk, cereal, lunch (sandwiches), juices. Price = $125/week.
Scenario 2. Parents (male female) one male and female child age range 5 to 15. Menu same as above. Price = $ 200/week.
Scenario 3. Parents (male female) one male and female child age range 15 to 18. Menu same as above. Price = $150/week.
It is expected that at range 15 to 18 kids tend to buy more food (fast food) so price for lunches may decrease accordingly.
I'm Canadian so, i think its around $145.00 Canadian dollars around that or less.