The total of my future expenses each year are $70,510. I know this is logical because my primary sources for information are zillow.com, salary.com, gasbuddy.com, and http://diplomaguide.com.
According to http://swz.salary.com/SalaryWizard/Pediatric-Physician-Salary-Details.aspx I can likely count on making $177,319 each year in my future job as a pediatrician. My education/training to get that job will cost $28,000 total for all years of training.
I want to save $30,000 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 $28,1540 plus interest.
Comparing my future income and expenses makes me think that I need to pay more attention in what I spend, such as figuring out between necesseties and wants.
It can be very difficult to differentiate between needs and wants because you may want something so badly it feels like need, but I'm sure you will be able to do it if you pay close attention to what you spend money on! Good work!
ReplyDeleteGood research!
ReplyDeleteI totally agree with figuring out what is a necessity and what is a want! I also plan on focusing on that in the future in order to control my spending.
ReplyDelete