- The total of my future expenses each year are $96,126. I know this is logical because my primary sources for information are my spreadsheet that I made from looking up prices for each category on the internet.This is just an estimate obviously some prices might vary, but my expenses will be about $96,126, give or take a few dollars.
- According to payscale.com I can likely count on making $155,350 each year in my future job as a Chief Executive Officer, but this amount is just an average. My education/training to get that job will cost $204,064 total for all years of undergraduate training at Creighton University. At another school it would cost about another $100,000 to get my Bachelors Degree in Business Administration and maybe a Masters Degree. I think these two Degrees will allow me to seek better job opportunities and get paid more so they are sort of like long-term investments.
- I want to save $20,000 for my rainy day fund each year, and $15,000 for retirement each year. If I save $15,000 for retirement each year, by the time I am 65 years old I will have $510,000 plus interest.
- Comparing my future income and expenses makes me think how many things I take for granted each day such as insurance, house payments, and clothes. But when I'm out of school I will be prepared, if I continue following and adapting to budget plans. This also showed me that I need to make smart investments over the years to allow my money to accumulate, so I can plan for a rainy day or a problem that might arise.
Thursday, July 16, 2015
Blog 4: Expenses
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I really enjoy the thoroughness of this post, for your vision is quite clear. Yes, I agree, we definitely have similar aspirations and outlooks on our futures. Are you going to Creighton University in the fall or will you be a senior hoping to go there? Putting aside $35,000 each year might be difficult, but with proper budgeting and continual assessment, it can certainly be made into reality. I absolutely love how you ended this post demonstrating your appreciation for all the "paid" for things in life. Hopefully one day you can provide your child/children with the same fortunate opportunities.
ReplyDeleteI think that you are very clear on your career showing that you know what school you want to go to the type of job you want to do and the exact amount of money that you will make doing it and the funds that you want to have. You have good clear well thought out numbers that will be very helpful when you are older
ReplyDeleteYou planned a really well to make sure you save enough money
ReplyDeleteGood job Robert! Your expenses are very well thought out. This is thorough and attainable. Good luck on your path to becoming a CEO!
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