Blog #4

In 15 years, if all of my goals are achieved, I hope to be a licensed pediatric surgeon. To make this happen will take about 10+ years of continuous schooling and training, and if I stay on the right path, than in 10 years I will just be finishing medical school and starting residency.

•                The total of my future expenses each year are about $35,000 if I live in a small apartment in San Francisco, possibly with a roommate to split rent with. Other things that are included in this amount are transportation, entertainment, food, and utilities. I know this is logical because my primary sources for information are http://www.expatistan.com/cost-of-living/san-francisco.

•                According to http://www1.salary.com/Surgeon-Pediatric-salary.html, I can likely count on making around $400,000 each year in my future job as a pediatric surgeon. According to http://www.bestmedicaldegrees.com/is-medical-school-worth-it-financially/ education/training to get that job will cost around $410,000 total for all years of training.

•                I want to save $16,000 for my rainy day fund each year, and $30,000 for retirement each year.  If I save $30,000 for retirement each year, by the time I am 65 years old I will have $1.05 million plus interest.

•                Comparing my future income and expenses makes me realize that the road to becoming a surgeon is a long and grueling path, and that you're really in debt and barely making money while you're going through medical school and residency, and you don't actually start paying off those debts until you become a surgeon. Looking at future expenses and income also helped me realize how many hidden expenses there are that you don't really account for or don't think about.