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One of two state agencies responsible for pushing out millions of dollars in federal infrastructure funds said it could be at least mid-to-late 2023 before any allocations roll out. Jackson Mayor Chokwe Antar Lumumba, a Democrat, has said the price tag to overhaul the city’s water infrastructure could balloon into the billions. This year, the Mississippi Legislature created a $450 million water infrastructure funding program with money the state received through the Congressional Covid relief package that passed in 2021. The Mississippi Department of Environmental Quality is administering the Clean Water State Revolving Fund program. Sam Mozee, director of the Mississippi Urban Research Center at Jackson State University, says his team is tracking what happens with funding going forward.
The goal for this week: Calculate how much you need to save on a regular basis to achieve your goals when you want. Decide on a target number for each savings goal. Then divide that number by 4% (the standard investment withdrawal rate) to get the target balance needed to retire. Note: The savings goal equation is meant to be conservative. It's likely that you will need to go back and adjust the target balance or target deadline for some of your goals.
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