Week 4: Future Expenses and Lifestyle

• The total of my future expenses each year are $53,834.  I know this is logical because my primary sources for information are the bills of my parents and information from my sister who is renting a room in an apartment.
• According to Chron.com I can likely count on making $59,000.00 each year in my future job as a Automotive Technician.  My education/training to get that job will cost $6,000.00 total for all years of training.
• I want to save $2,000.00 for my rainy day fund each year, and $3,000.00 for retirement each year.  If I save $3,000.00 for retirement each year, by the time I am 65 years old I will have $132,000.00 plus interest.
• By comparing my future income and expenses makes me think that I should seek a better paying job that will better support my family, if I choose to have children. I would also like to eventually own a house or go on vacation therefore requiring more money. I realize that this job could only sustain for a short time and I must find a higher paying job in the future by pursuing better education. Possible a combustion engineer or a aircraft engineer would provide more cushion. After my expenses their is little left over from my salary for luxury items or non calculated costs.