If You Can Save $500 a Month Toward Retirement, Here's How Much You'll End Up With

iStock.com/BrianAJackson
iStock.com/BrianAJackson

You don’t need to be a master money strategist to know that setting aside funds for your eventual retirement is a necessity. While it might be tempting to keep cash in your pocket now and assume the Social Security benefits that will kick in later will keep you afloat, the reality is that many people won’t receive enough livable income from that government program, especially with the mounting medical bills that advanced age can bring.

Unless you plan on working a full- or part-time job indefinitely, saving now will provide you with a far more comfortable third act in life. If you’re wondering how, CNBC recently broke out their retirement savings calculator to estimate what the average person can expect to end up with at age 67 if they set a goal of saving $500 per month.

At 25 years old and calculating a four percent rate of return, a retiree would have $628,918 in the bank. At six percent, it would be $1,055,703.

Obviously, the earlier you start to save, the better. But it’s never too late. If you begin saving at age 30, you’ll have $490,213 accrued at a four percent rate of return, or $763,609 at six percent. Starting at age 40 will net you $282,505 at four percent. Starting at age 50 is predictably less rewarding: at four percent interest, you’ll have $142,185.

Most people can, of course, do these back-of-napkin estimates themselves using amounts better suited to their own specific situations. Even saving as little as $200 a month early in life might make the difference between enjoying your retirement without obligation or clocking in for part-time work. 

[h/t CNBC]

These Rugged Steel-Toe Boots Look and Feel Like Summer Sneakers

Indestructible Shoes
Indestructible Shoes

Thanks to new, high-tech materials, our favorite shoes are lighter and more comfortable than ever. Unfortunately, one thing most sneakers are not is durable. They can’t protect your feet from the rain, let alone heavy objects. Luckily, as their name implies, Indestructible Shoes has come up with a line of steel-toe boots that look and feel like regular sneakers.

Made to be incredibly strong but still lightweight, every pair of Indestructible Shoes has steel toes, skid-proof grips, and shock-absorption technology. But they don't look clunky or bulky, which makes them suitable whether you're going to work, the gym, or a family gathering.

The Hummer is Indestructible Shoes’s most well-rounded model. It features European steel toes to protect your feet, while the durable "flymesh" material wicks moisture to keep your feet feeling fresh. The insole features 3D arch support and extra padding in the heel cup. And the outsole features additional padding that distributes weight and helps your body withstand strain.

Indestructible Shoes Hummer.
The Hummer from Indestructible Shoes.
Indestructible Shoes

There’s also the Xciter, Indestructible Shoes’s latest design. The company prioritized comfort for this model, with the same steel toes as the Hummer, but with additional extra-large, no-slip outsoles capable of gripping even smooth, slippery surfaces—like, say, a boat deck. The upper is made of breathable moisture-wicking flymesh to help keep your feet dry in the rain or if you're wearing them on the water.

If you want a more breathable shoe for the peak summer months, there's the Ryder. This shoe is designed to be a stylish solution to the problem of sweaty feet, thanks to a breathable mesh that maximizes airflow and minimizes sweat and odor. Meanwhile, extra padding in the midsole will keep your feet protected.

You can get 44 percent off all styles if you order today.

This article contains affiliate links to products selected by our editors. Mental Floss may receive a commission for purchases made through these links.

The Worst Drivers In America Live in These 15 States

Life of Pix, Pexels
Life of Pix, Pexels

No matter how many times you've been cut off on a road trip, anecdotal evidence alone can't prove that a certain state's drivers are worse than yours. For that, you need statistics. The personal finance company SmartAsset compiled data related to bad driving behaviors to create this list of the 15 states in America with the worst drivers.

This ranking is based on four metrics: the number of fatalities per 100 million miles driven in each state, DUI arrests per 1000 drivers, the percentage of uninsured drivers, and how often residents Google the terms “speeding ticket” or “traffic ticket.”

Mississippi ranks worst overall, with the second-highest number of fatalities and the second lowest percentage of insured drivers. This marked the third year in a row Mississippi claimed the bottom slot in SmartAsset's worst driver's list. This year, it's followed by Nevada in second place and Tennessee in third. You can check out the worst offenders in the country in the list below.

Some motorists may be more interested in avoiding the cities plagued by bad driving than the states. These two categories don't always align: Oregon, which didn't crack the top 10 states with the worst drivers, is home to Portland, the city with the worst drivers according to one quote comparison site. After reading through the list of states, compare it to the cities with the worst drivers in America here.

  1. Mississippi
  1. Nevada
  1. Tennessee
  1. Florida
  1. California
  1. Arizona
  1. South Carolina (Tie)
  1. Texas (Tie)
  1. New Mexico
  1. Alaska
  1. Louisiana
  1. Alabama
  1. Oregon
  1. Arkansas
  1. Colorado