Do Your Numbers Stack Up?

by Galia Gichon on April 20, 2013

We all have numbers for mortgages, exercising, our age and net worth. Where do you stack up?

MORTGAGE

Is your mortgage more than 28% of your gross income? This includes mortgage and insurance. If so- consider reducing your mortgage by refinancing, moving or increasing your income.

START EXERCISING

Those who exercise at least 3 times a week earn 9% more than those who don’t according to Cleveland State University professor Vasolios Kosteas.

ARE YOU OVER AGE 50?

If so, take advantage of the catch up provision for IRA or 401k. In 2013, you can contribute an additional $5,500 for your 401k and an additional $1,000 for your IRA.

DO YOU WORK WITH A FINANCIAL PLANNER?

Your net worth could be nearly $200,000 HIGHER if you do. $307,750 is the median wealth of people who work with a planner versus $122,000 of those who don’t – according to a study by Annamaria Lusardi of George Washington University and Olivia Mitchell of Wharton.

These were read in Money magazine.

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