FOR THOSE OF YO WHO ARE LUCKY TO HAVE A FULL TIME POSITION IN THE OBAMA ECONOMY:
Converting your salary to an hourly figure
You’re a salaried employee and trying to figure out how much that wage earns you an hour, maybe for that part-time job you’re considering taking on. Take your salary, drop the last three zeros and then divide by the number two.
So if you earn $40,000, you’re left with $20 an hour.
Numbers work best if you’re only working a 40 hour week.
TO THOSE WHO ARE COUNTING THE YER BEFORE RETIREMENT AND ARE WONDERING HOW TO INVEST IN AN IRA OR 401K:
Asset Allocation by Age
This one really isn’t a math trick, so much as it is a rule of thumb...
Don’t have a financial planner to walk you through asset allocation? A simple way to find out is to subtract your age from the number 120, the number remaining is the percentage of your portfolio that should be in stocks.
For instance, if you’re 50, you should be keeping 70% of your holdings in stocks with the remaining 30 percent in fixed income products.
Just divide your annual salary by 2080 (the “standard” hours in a work year, which is 40 hrs a week times 52 weeks, including vacation and sick time).
I’ve done that since I was 15.