Finance Goals

Assuming that everything goes according to how I have planned it, I hope in ten years or so after graduating from medical school, I will have a steady-paying job, and will be comfortably situated somewhere in Los Angeles. I hope to go to UCLA for my undergraduate studies, and then transfer to Johns Hopkins School of Medicine for my graduate studies.

• The total of my future expenses each year are $70,000.  I know this is logical because my primary sources for information are http://www.welikela.com/cost-of-living-in-los-angeles/.
• According to http://work.chron.com/potential-salary-plastic-surgeon-6625.html I can likely count on making $500,000 each year in my future job as a plastic surgeon.  My education/training to get that job will cost $283,500 total for all years of training. This is according to http://grad-schools.usnews.rankingsandreviews.com/best-graduate-schools/top-medical-schools/johns-hopkins-university-04043.
• I want to save $5,000-7,000 for my rainy day fund each year, and $25,000 for retirement each year.  If I save $25,000 for retirement each year, by the time I am 65 years old I will have $850,000 plus interest.
• Comparing my future income and expenses really puts things into perspective for me. I have been looking at the different websites, and I see the costs of different types of things, such as food and clothes. It gives me a sense as to what I need to do in my life, and how hard I need to work to achieve my goals.