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Anonymous
Personal Finance
2016-06-26 18:25:07 Post No. 1339499
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Personal Finance
Anonymous
2016-06-26 18:25:07
Post No. 1339499
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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?
