A trainer's retirement plan.

Author:Scott, Matthew S.
Position:Ask B.E. - Brief Article


I am a 41-year-old ex-felon. I've been out of the workforce for 20 years. I'm pursuing a career in the fitness industry as a personal trainer. For someone my age and in my position, what would be a viable retirement savings plan?

R. Dixon

Via the Internet

At age 41, you will probably work another 20 to 25 years before you retire, so it will be important to create a savings strategy that can help make up for all the years you weren't saving. Choosing a career as a personal trainer means that you will have to work extra hard to establish a wage that gives you the best opportunity to retire comfortably.

The American Council on Exercise (ACE) says that in 2003, the typical salary range for a personal trainer was $30,000 to $35 000. The average hourly wage was $37 per hour. ACE also found that the minimum hourly wage was $7 and the maximum was $75. As you can see, salary potential can vary widely.

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