- According to government statistics, the average person drives 12,200 miles a year in a vehicle that gets 21 miles to the gallon.
- According to energy industry statistics, the average price of a gallon of gasoline nationwide over the past year was $2.50.
- Divide 12,200 by 21, and you'll see the average person uses about 580 gallons of gas annually. Multiply that by $2.50, and you'll see the average person spends about $1,450 per year for gasoline.
- So how much money do you need to put into an investment that yields 6% per year to get $1,450 in annual income? I'll spare you the rest of the equations, but the answer is about $24,000.
Energy Holdings With Juice
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.