-The total of my future expenses each year are $69,608. I know this is logical because my primary sources for information are collegecalc.org, zillow.com, University of Virginia school of Medicine, physicianjobboard.com, and salary.com.
- For this exercise, I assumed to be a Radiologist working and living in San Francisco.
- According to salary.com, I can likely count on making about $378,393 each year in my future job as a radiologist. My education/training to get that job will cost about $350,040 total for all years of training, including a 4-year university and med school.
- I want to save about $5,000 for my rainy day fund each year, and $6,000 for retirement each year. If I save $6,000 for retirement each year, by the time I am 65 years old I will have $210,000 plus interest.
- Comparing my future income and expenses makes me think…. that maybe I am putting too much money into everyday expenses, and that I will be spending more than necessary each year if I intend to follow this plan.
You seem like you have it all planned out thoroughly, but don't let that get the better of you.
ReplyDeleteWow, radiology seems to be a pretty lucrative career. It's going to take a lot of time and effort, but the rewards seem pretty good.
ReplyDeleteI like how you used sufficient amount of sources to calculate your future expenses and the salary you will likely earn.
ReplyDeleteI had a lot of trouble coming up with an appropriate amount for everything because prices very drastically in different places and for different plans and companies. You seemed to have handles this hurdle well. Radiology is an interesting field.
ReplyDelete3.8k a year is outstanding, good for you. Sounds like a lot of hard work and expenses but I'm sure you'll get there, good luck!
ReplyDeletemeant to say 380K
DeleteYour research is thoroughly done! You seem to know what you want in your future!
ReplyDelete