The total of my future expenses each year are $60,000. I know this is logical because my primary sources for information were adults in my family (parents, older cousins, aunts, uncles) who had and are having experience with making these kinds of payments. I relied mostly on my older cousins (25-30) living in the Bay Area right now.
According to Monster.com, I can likely count on making $91,000 each year in my future job as a Deputy DA in California. My education/training to get that job will cost $195,000 total for a four year college and law school.
I want to save $4,000 for my rainy day fund each year, and $4,500 for retirement each year as well as dedicate $2,000 to paying off student loans till they are paid off. I will have $20,000 let over to spend how I please. If I save $4,500 for retirement each year, by the time I am 65 years old I will have $135,000 plus interest.
Comparing my future income and expenses makes me think that I better get some sort of scholarship and a good student loan plan because my education for this job is going to be very expensive.
I think this sounds like a good career that you will make a lot of money in. I also like how much planning and exact amounts of money that you are putting into different funds and that will make your life easier
ReplyDeleteUsing your cousins as a resource was definitley a smart move especially since they are young adults living in the bay right now.
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