Do you know the salary of a president? This is how you can match it!
The office of the president was established on March 4, 1789, by the founding fathers. The office was enshrined into the constitution and the first holder of the office was George Washington. Ever since he left office, there have been a total of four pay raises and the value now stands at $400,000 annually. The first holder of the office, George Washington made only $25,000, and $669,469 in current amounts. This is after factoring in inflation and all other factors. The amount also comes with extra perks of the office. These include an extra allowance of $50,000 for extra expenses. The officeholder also has a $100,000 non-taxable travel allowance annually for personal travel. This however might be difficult to understand since all the travels are catered for by the taxpayer while the president is in office. There is also an extra amount of $19,000 that is an entertainment allowance.
Changes in salaries over the years.
The pay rises came later in 1873 and now the president made $50,000 which is $994,060 in current amounts. This would however not last for long as in 1909, the amount would rise to $75,000 which when factoring in inflation and other advancements in the economy put the amount at $1.97 million. Forty years later, another pay rise would come, that saw presidents make $100,000 which when converted into today’s amounts, is $1.04 million. This amount would however only last two decades as in 1969, Congress approved an increase in the salary. It was put at $200,000 which in current amounts is $1.35 million. This was a great level of growth in the salary and was attributed to the great performance of the economy. The current amount would however be set up in 2001, and it was agreed at $400,000.
This is barely what a typical American employee takes home in a year, and many citizens have opted for personal investments. If you want to make informed choices, these are some of the avenues that will come in handy.
1: Planet Money.
Renowned for their prowess in economic matters, this is the place to begin. This site has a podcast that explains all your investment options in a way you understand. They are also credited as being the “Best Economy Explainer”. This will advise your investment decisions to ensure you are on the right path.
2: MSN Money.
On your investment path, you want a partner who will keep you up-to-date with all the happenings on the trading floor. The MSN money offers the latest stock prices and market analysis on the expected performance of others. This will thus advise you on when to make investments so as to grow your investments.
3: CS Money.
All the information will not be useful without the best trading tool to help you engage in the stock market. This is where CS Money comes to the rescue. This site allows you to open and close trades fast, and from the convenience of your device. With this tool and all the knowledge, you have gained, the sky is the limit for you.
You might not be a president but that doesn’t mean you cannot earn as much as they do. All you need is the right investment tools, and soon you will be among the 1% top earners in America, even surpassing the president!