-
2005
-
Period: to
Financial Planning in the life of CHH
-
2010
youth -
2015
youth -
2020
youth -
Period: to
Milestones from High School Graduation to Death
timeline of important events that require planning and saving money from the time I finish high school until I die. -
Apply to Colleges
Youth - Apply to at least 4 colleges - If application fee is average of $60, I will need $240 to apply to 4. -
Attend College
Young Adult - Attend university as undergraduate with an estimated cost of $100,000. My parents have saved for my college education since I was born. -
2025
young adult -
Attend Pharmacy School
Young Adult - Apply to pharmacy school during undergraduate year two and begin courses third year of undergraduate study. An estimated total cost is $50,000 which I hope will come from the college savings fund my parents have for me. -
2030
young adult -
Buy Car of my Choice
Adult - After finishing four years of pharmacy school and working for a year, I plan to purchase the car of my choosing. Shopping in the $40,000 range for a car, I would like to have $25,000 saved to put toward the cost and take out a loan for the remaining balance. -
Purchase a House
Adult - After working a few years it will be smart to purchase a home and benefit from tax credits and deductions as well as building equity in a home instead of just paying rent. Shopping for a home in the $500,000 range I know it is good to have at least a 20% down payment - which is $100,000. I will have this saved and will have a mortgage for the rest. -
2035
adult -
Get Married
Adult - By the time I am 30 I should feel I have lived as a bachelor long enough and will be ready to get married. -
2040
Adult -
2045
Adult -
Buy a Boat
Adult - After working for several years, I will be ready to use some of my earnings to buy something just for fun and for me. A ski boat to enjoy on a lake is what I want. I estimate the cost to be $50000 for a nice boat, and I will have that saved to pay out of pocket for the boat. -
2050
middle age -
2055
middle age -
Retirement
Middle Age - Monthly spending is estimated to be $6,450 and if I live 30 years after retiring, I will need a total of $2,300,000, which means saving $77000 per year for 30 years while I am working. -
2060
middle age -
Travel
Middle Age - I will travel around the world and visit historical places and landmarks. Taking a year to do this has an estimated cost of $25,000. If I take this trip after I retire and have saved $850 a year for 30 years, I can pay for this trip and can see where my ancestry traces back to in England and Scotland, and also some of the Great Wonders of the World ( like the Great Wall of China and the Pyramids in Egypt). Understanding World History helps us to understand our World. -
2065
middle age -
2070
middle age -
2075
Senior -
2080
Senior -
2085
Senior -
2090
Senior -
Death
Senior - I hope to have taken good care of myself and live longer than the average man in the United States - at least until I am 85, but I will have my burial plans handled. An average funeral and burial is about $7500. I hope to have enough money on hand to be able to pay for this out of pocket. -
2095