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So I'm looking at what I need to save today
to be have prudent future. I'm currently 25, and my career is to be determined. I had a few classes on the TVM, and I basically created budget for the future. Assuming a 10% RoR on investment/savings.
The image would mean from 25 to 29, I would have to save approximately $6000 a year. From 30 to 40, I would have to save $9500 a year.
House: $600,000 house in California, savings would be for a 20% down payment to be made when I'm 40 years old. Costly in California, but I imagine that's the cost of a 3 bedroom + renovations.
College: $200,000 for a child's university education in the future. $100,000 for each kid or whatever it's divided throughout. 20 year savings plan.
Retirement: $100,000 paid every year from 65-100
Are there any other major spending in life to be concerned about? Weddings? How much do those go for?
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>600k house in california
Good luck with that.
>100k a year for retirement
Oh wait, you are retarded.
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>>1339499
That excel skills... Oh sorry, there are none!
>mfw
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bump?
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>>1339499
Dude I'm so confused what you're asking.
If you're asking about expenses in life you haven't included in this spreadsheet, there are many.
Car, Medical, Kids need braces, Family vacation, Christmas gifts, etc. etc.
My advice would be to figure out your monthly income, then subtract out your monthly bare bones expenses. Take the remainder of your paycheck and go 40% savings 40% investment/retirement account 20% spending money. Or something like that.
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>>1339499
You're focused way to much on the planning, you should instead focus that attention on money making.
Use Mint to take care of your budgeting.
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