Wednesday, July 16, 2014

Week 4: My Future Lifestyle and Finance

  • The total of my future expenses each year are around 42,000 a year. I know this is logical because my primary sources are my parents. This maybe different in the future because prices might change over time.
  • According to http://criminalistsalary.com/CA/Greenbrae/salary/Criminal-Prosecutor-Salary, I can likely count on making $133,741 - $200,611 each year in my future job as a prosecutor. My education/ training to get that job will cost around $250,000.
  • I want to save $7,000 a year for a rainy day fund each year and another $9,000 for retirement each year. If I save $9,000 for retirement each year by the time I am 65 years old I will have $360,000 plus interest.
  • Comparing my future income and expenses makes me think that some of my expenses might be higher because I might have kids and I have to worry about my parents and their expenses in 10-15 years but, my expenses might be cut down if I have a husband and we split the household expenses.

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