Blog 4

• The total of my future expenses each year are about $40,000.  I know this is logical because my primary sources for information are my parents, who explained to me that this was around what they themselves spend.
• According to GlobalPost I can likely count on making $544,000 each year in my future job as a cardiac surgeon after residency.  My education/training to get that job will cost $260,000 total for all years of training.
• I want to save $1,500 for my rainy day fund each year, and $15,000 for retirement each year.  If I save $1,000 for retirement each year, by the time I am 65 years old I will have $570,000 plus interest.
• Comparing my future income and expenses makes me think that if I want to pursuit a career as a cardiac surgeon, I have to be absolutely sure it is the right career for me. It will be extremely hard to drop out and follow a new career path once I am too invested in cardiology, and if I ever do so, I will lose a lot of money spent on the education required.