How to Save for Retirement on a Minimum Wage | Smart Change: Personal Finance | cumberlink.com

How to Save for Retirement on a Minimum Wage | Smart Change: Personal Finance | cumberlink.com: The minimum wage in the United States is $7.25 per hour. Assuming a typical 40-hour work week, that adds up to $15,080 over a year. If you're fortunate enough to live in one of the 29 states with a higher minimum wage, you can make a little over $20,000 in a year. But for many, that's still a far cry from a comfortable existence.

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