## Saturday, May 28, 2005

### Bored with a Calculator

I had a few minutes and I tried to plan out how much I can save per year for the next few years.
I assumed that when I get a full-time job the pay will be at least \$40,000 before taxes.
I then assumed that the taxes taken out of my paychecks will total 20% (this is just an assumption).
So using those facts that leaves me with \$32,000.

Next, I thought about my living situation. I definitely want to live with roommates. I'm just used to this I think, and it might get too quiet if it's just me in a one bedroom apartment. Also, it will be cheaper! I'm going to assume living expenses and bills to total \$900/month. This figure will depend on tons of factors, but it should be around \$900. This will equal \$10,800/year leaving me with \$21,200.

Seeing this figure I think I should positively be able to saving \$10,000. The rest will be used for other expenses, buying things, entertainment, etc.
I think for the first few years at a full-time job, \$10,000 will be my savings goal. All the calculations I've done in the past where I figured out my potential net worth at the age of 50 or so, always used savings per year of around \$8000 to \$9000. I think \$10,000 is a realistic goal, and if it is then hitting my long-term goals might be a little easier.