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The total of my future expenses each year are 30-40,000 if I live in a small apartment in San Francisco using public transportation maybe with a roommate. I know this is logical because my primary sources for information is http://www.expatistan.com/cost-of-living/san-francisco
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According to http://www1.salary.com/sports-medicine-physician-salary.html I can likely count on making $206,332 each year in my future job as a sports medicine physician. My education/training to get that job will cost $221,744 total for all years of training. http://www.bestmedicaldegrees.com/is-medical-school-worth-it-financially/
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I want to save enough money for 3-6 months. I want to have $9-18,000 for my rainy day fund, and $20,633 (10 percent each month) for retirement each year after I'm 20 years old . If I save $20,633 for retirement each year, by the time I am 65 years old I will have $928,485 plus interest, not including compounded interest.
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Comparing my future income and expenses makes me think that being a doctor is a good way to go after paying off medical school and a 4 year, but I need to work hard and in the end it will all pay off.
Friday, July 17, 2015
Blog Post #4: Future Lifestyle
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Wow! You were really specific with all of your numbers, so you have a really sound idea of how much you're going to be making and saving if you pursue a path in sports medicine. I think you did a great job thinking about the future and I learned a lot about the finances of and lifestyle of a sports medicine physician! Good luck!
ReplyDeleteThis is a great blog! very detailed and well thought through. I think that you did a great job thinking about the future and how to get there. Good job!
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