Sunday, July 19, 2015
Blog Post #4: Expenses
The total cost of my future expenses will be about $56,000 dollars a year. I know this is logical because my primary sources for information are the budget sheet and cost calculator (which can be found online).In order to become a quantitative analyst. According to glassdoor.com I can likely count on making $107,000 each year in my future job as a quantitative analyst. My education/training to get that job will cost about $120,000 total in training. I will need to get a master's degree in Mathematics or Computer Science, as well as a CFA qualification, but these degrees have a lot more use in various other fields as well. I want to save $10,000 for my rainy day fund each year, and $10,000 for retirement each year. If I save $10,000 for retirement each year, by the time I am 65 years old I will have $420,000 plus interest. Comparing my future income and expenses makes me think that I will always have money (in case of emergencies or unforeseen expenditures), while living a comfortable lifestyle.
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Your interest in this field can prove to be very beneficial. Like you said majors such as a master's degree in mathematics or computer sciences can be applied in all sorts of other professions and can help you to pursue the same area of interest if your plan of being a quantitative analyst does not work out.
ReplyDeleteYour interest in this field can prove to be very beneficial. Like you said majors such as a master's degree in mathematics or computer sciences can be applied in all sorts of other professions and can help you to pursue the same area of interest if your plan of being a quantitative analyst does not work out.
ReplyDeleteIncredible salary! Will you get that job immediately or start with something lower and work up to it? Have you accounted for that in your financial plans and 10/15 year goal?
ReplyDeleteI think it's cool that becoming a quantitative analyst you can study math or computer science. It makes it so you have more choices.
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