The total of my future expenses each year are 72,940. I know this is logical because my primary sources for information are family members with similar lobs/lifestyles, http://www.ca.gov/HomeFamily/Taxes.html.
According to http://www.indeed.com/salary/q-Clinical-Psychologist-l-Marin-County,-CA.html I can likely count on making $99,000 each year in my future job as a clinical psychologist (I used 50,000 on my spreadsheet because I found that number on a different website but this number seems more accurate to me for a clinical psychologist in Marin County.) My education/training to get that job will cost $(couldn't find this information) total for all years of training.
I want to save $1,500 for my rainy day fund each year, and $5,000 for retirement each year. If I save $5,000 for retirement each year, by the time I am 65 years old I will have $175,000 plus interest if I am starting at 30 years old.
Comparing my future income and expenses makes me scared and overwhelmed for the future when I actually have to take into consideration each of these things and pay taxes, etc. But I am glad that I am learning about them now to prepare for the future instead of jumping right into it clueless of the system.
I agree with you, it's defiantly scary to think about future finances. I guess it's just apart of growing up and something we'll learn. I think your financial plan looks strong though, so you'll be good. Best of luck! By the way, sorry if this posted twice, it said it didn't post the first time.
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