IKEA Has Opened Its First Store in India

Noah Seelam, AFP/Getty Images
Noah Seelam, AFP/Getty Images

Vegetarian Swedish “meatballs” and build-it-yourself furniture have finally arrived in India, the AFP reports. Although the home furnishing behemoth first tapped the Chinese market in 1998, its new Hyderabad store marks the company’s entry into the world’s second most populous country.

Motorized rickshaws adorned with the IKEA logo and decked in blue and yellow—the colors of the Swedish flag—scooted around the South Indian city to promote the store about a month before it debuted. When it did finally open for business, about 200 customers who had lined up in an underground car park were greeted by a military band. One clothing factory worker traveled 360 miles from Bangalore just to check it out.

A canteen inside the outlet has tailored its menu to local tastes. The Swedish meatballs—an IKEA staple—were offered in chicken and vegetarian versions, as many people in India have religious or cultural reasons for not eating beef, pork, or meat in general.

Biryani (a rice dish), samosas (filled pastries), and meatless hotdogs are also on the menu. Different IKEA outlets around the world tend to offer localized menus featuring national specialties. They offer crayfish in Japan, shawarma in Dubai, cabbage soup in the Czech Republic, macarons in France, fish and chips in the UK, and, oddly enough, Thai curry in Switzerland.

IKEA plans to open 24 other outlets in India by 2025. However, some have questioned whether the concept of self-assembled furniture will catch on in the country of 1.25 billion. Analysts say the idea of DIY homemaking is unpopular, and spending levels are low. However, affordable items are on offer at the Hyderabad outlet, like a children’s six-piece bowl set for under $2.

[h/t The Guardian]

Scamp the Tramp Named World’s Ugliest Dog

Scamp the Tramp won the World's Ugliest Dog contest at the Marin-Sonoma County Fair on June 21, 2019 in Petaluma, California.
Scamp the Tramp won the World's Ugliest Dog contest at the Marin-Sonoma County Fair on June 21, 2019 in Petaluma, California.
Justin Sullivan, Getty Images

In a society overrun by fashion magazines, beauty contests, and Instagram models, it’s nice when the not-so-photogenic are appreciated. Take Scamp the Tramp, this year's winner of California's World’s Ugliest Dog competition. “[He’s] Scamp the Champ now,” Scamp's owner, Yvonne Morones, said of her pup's hard-won victory. “We had to change his name.”

Scamp, who was the 2018 competition's runner-up, came out on top of the dog pile against 18 other adorably ugly pooches. His winning looks are courtesy of matted fur that “no conditioner can calm,” a tongue that appears to perpetually hang from his mouth, and bat-like ears. According to his official biography, Scamp’s pastimes include partaking in various community service activities and serving as an uncle to numerous foster kittens.

UPI reports that Morones is experienced in grooming champions; she has claimed the World's Ugliest Dog title several times before with two of her previous pooches. Her dog Nana was even reigning champ from 1996 to 2002.

Morones rescued Scamp from a Los Angeles shelter in 2014, and the two quickly clicked. “It was on the way home that I knew I made the right choice,” she said in a press statement. “There we were, two strangers in a car on the way home to a new start. Bob Marley was playing ‘One Love,’ and I looked over and little Scamp was bobbing his head. It was like he knew he had found his forever home.”

First-prize winners of the World’s Ugliest Dog contest take home a trophy, $1500 in earnings that will also be matched in donations to animal charities, and validation that they’re certifiably good boys and girls.

Want to Retire a Millionaire? Here's How Much You Need to Put Into Your 401(k) Each Month

iStock/AndreyPopov
iStock/AndreyPopov

Despite stereotypes that accuse young people of mishandling their finances, Millennials are actually more likely than Baby Boomers and Gen Xers to contribute money to their 401(k) plans. But if you want to retire rich, simply having a tax-free retirement account may not be enough. CNBC recently broke down exactly how much of your salary you need to contribute in order to hit the $1 million mark when you withdraw your 401(k) funds at age 65.

Many financial advisors recommend contributing 10 to 15 percent of your gross income to your retirement plan—or less, if that number exceeds $19,000, the 401(k) contribution limit for 2019. Depending on the rate of return on your investment portfolio and your salary, you could contribute less than that and still retire a millionaire. The key is starting early enough: The later you wait to open your 401(K), the more of your salary you'll need to set aside in order to catch up.

Here's CNBC's break down of what you need to invest per month to save $1 million by retirement, starting at three different ages and looking at three possible rates of return.

Age 25

With a 4 percent rate of return: $843.24 per month
With a 6 percent rate of return: $499.64 per month
With an 8 percent rate of return: $284.55 per month

Age 30

With a 4 percent rate of return: $1090.78 per month
With a 6 percent rate of return: $698.41 per month
With an 8 percent rate of return: $433.06 per month

Age 40

With a 4 percent rate of return: $1938.57 per month
With a 6 percent rate of return: $1435.83 per month
With an 8 percent rate of return: $1044.53 per month

Of course, not everyone can contribute this much to a 401(k) consistently throughout their career. Salaries and living expenses fluctuate, and even if dropping 15 percent of your paycheck into a retirement plan is easy to do now, that may not always be the case. The reverse may also be true.

If you can't meet the goals laid out above at this point in your life, that doesn't mean you should delay saving for retirement altogether. When it comes to a 401(k), financial planners emphasize that putting aside something—even 1 or 2 percent of your salary—is much better than saving nothing at all. Not sure where to begin? Here are some tips for getting started with your 401(k).

[h/t CNBC]

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