Saving for Retirement When You Make Minimum Wage

At $7.25 an hour, a job paying the federal minimum wage doesn’t give workers much cash to spend. A person working 40 hours a week for 52 weeks will close out the year earning $15,080 before taxes.Fortunately, not too many people have to get by on the federal minimum wage. Only 2.7 percent of hourly workers made that little in 2016, according to the Bureau of Labor Statistics. That’s partly because 29 states, plus the District of Columbia, have minimum wages that range from $7.50 to $12.50 per hour.

Spotlight

This election year will have a significant impact on long-term indirect tax rules, rates, and risks. More immediately, federal, state, and local tax policymaking, fiscal conditions, and technological disruptions will muddle the short-term indirect tax environment in the United States. This white paper will cover the important tr

Spotlight

This election year will have a significant impact on long-term indirect tax rules, rates, and risks. More immediately, federal, state, and local tax policymaking, fiscal conditions, and technological disruptions will muddle the short-term indirect tax environment in the United States. This white paper will cover the important tr

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