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The total of my future expenses each year are $65,000. I know this is logical because my primary sources for information are http://www.areavibes.com/san+francisco-ca/cost-of-living/average-prices/ .
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According to salary.com I can likely count on making $90,000 each year in my future job as an architect. My education/training to get that job will cost $60,000 total for all years of training.
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I want to save a few thousand dollars for my rainy day fund each year, and $3,000 for retirement each year. If I save $3,000 for retirement each year, by the time I am 65 years old I will have $120,000 plus interest.
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Comparing my future income and expenses makes me think that I will be able to live comfortably if I am aware of what I'm spending on. I will need to keep logs of my expenses and income so that I remain on track for my future plans and so that I can extra spending money and enough extra cash yearly for my rainy day fund and retirement.
Tuesday, July 21, 2015
Week 4 Finances
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Good plan for the future, $90,000 is definitely a good place to be in. Keep up the savings!
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