So that would amount up to about $117,000 a year- about $9,750 per month. According to the websites I checked (USC and UConn Law) I would have a tuition fee of about $370,000, assuming I've done 4 years of college and 3 years of Juris Doctor, and passed the bar exam. I added up all of my expenses together (housing, gas, etc) per year, and it would equal to about $82,382 in expenses per year. I would like to save a LOT for retirement- I'm thinking about $1,000-$2,000 a year, and have about $500 a year for rainy day expenses.
I don't plan on ever having kids or a spouse, so I'm going to assume I live alone with my 5 cats, and set aside a $500 dollar budget for them.
If I save about $1000 dollars each year for retirement, by the time I'm 65, I would have $36,000 plus interest. If I saved $2000 dollars each year, I would have $72,000. I should probably save a lot more for retirement- I'm thinking everything that I don't use per year (the $117,000 - $82,382) I'll just stuff into my bank account waiting for me to grow old and lay in bed all day. I'm sure I'll have more than $72,000 for retirement- it really all varies on the year, and how many unforeseen expenses I may have.
I feel like I'm aiming too high here- law school is expensive, and being a District Attorney is hard. I'm not even sure I can find a job as a District Attorney or accomplish these feats, but this is what I've assumed for now. Seems a little unreachable, but who knows?
Some websites I used:
indeed.com
sandiego.edu
uconn.edu
(and most of the expenses are from the apartment where I live now- two bedroom, cozy, I don't think I'd need to move. Phone bills + everything else, etc are from what I have now too.)
Some websites I used:
indeed.com
sandiego.edu
uconn.edu
(and most of the expenses are from the apartment where I live now- two bedroom, cozy, I don't think I'd need to move. Phone bills + everything else, etc are from what I have now too.)
Yeah, I like the idea of saving every non-budgeted dollar. The only difference is that I would probably put money into general savings, rather than retirement because I do not care too much about retirement.
ReplyDeleteI think it is good that you are aiming high. If you don't aspire to be something, what purpose is there in going to college and all that? I know it's really cliché to say "follow your dreams," but it's good to have them.
ReplyDeleteI love the part about your five cats and setting aside money for them haha. It's awesome that you're planning ahead for retirement! that's smart.
ReplyDeleteI put DA as my job too. The education costs are insane though! I'm not sure if I want to be a lawyer just because of that.
ReplyDelete