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Saturday, October 27, 2018

$1,000 accumulation

Accumulating $1,000 is not a difficult task depending on circumstances.

Consistent wages from a W-2 job can be available to teenagers from the ages of 14 to 16 depending on location. Entry level jobs tend to have a minimum wage around $7.50 hourly.

If $1,000 is the end goal, one possible path to achieve the goal is as follows.

Player one is age 16 and currently lives with his parents during high school.
Where he lives, he has access to various retail stores, restaurants, or grocery stores.

During summer vacation, he takes on one or two jobs at minimum wage and makes sure to get 40 hours per week.

His home is in close proximity to work sites (walking or biking).

$7.50 at 40 hours per week is $300. Assuming 25% is withheld for deductions, his weekly take home pay is $225 per week.

Further assumptions include that player one has no living expenses as those are covered by the parents.

$1,000 goal can be achieved in 4.44 weeks.


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