Two Plus Two Newer Archives  

Go Back   Two Plus Two Newer Archives > Other Topics > Business, Finance, and Investing
FAQ Community Calendar Today's Posts Search

 
 
Thread Tools Display Modes
Prev Previous Post   Next Post Next
  #1  
Old 07-15-2007, 03:19 PM
john kane john kane is offline
Senior Member
 
Join Date: Dec 2004
Posts: 2,829
Default please evaluate my life plan:

currently have $150K. by time i start job in october hopefully about $220K.

year 1-3 training as accountant.
after-tax pay for all 3 years ~ $135Kish.
poker winnings and other moneymaking entreprises, hopefully another $135Kish. so total income $270Kish.

expenses:
live at home for year 1, spend about $7K.
year 2 and 3 rent with friends, costing $35K, spend about $20K.
total expenditure: $65K.

so net earnings $200K in year 1-3.

so have in the bank after qualified as an accountant $420K ish.

now it gets tricky. basically i want to spend mid 20s with friends then try and buy a pretty awesome 1 bedroom riverside apartment, such as this:

http://www.foxtons.co.uk/SS/chpk0046488

change in house prices will affect a lot, but i'll need about $1.2mill in real terms to buy something like that. so ill be able to get a $400K mortgage, have $420K in the bank, im still $400K short.

so if I spend year 4-6 working, hopefully involving some work abroad, making say $240K posttax from salary and make another $200K ($5.5K/month) during that period from moneymaking enterprises, then I'd have a total of about $850K-900K and at that point could take out a $400K-$50K mortgage, having spent a few years renting with friends, a bit of work abroad, and then have enough for a riverside flat.

that's the plan.

thoughts?

obv there are a billion variables till then, but i like to have an idea in my head for something to aim for and keep me motivated in the hard woring times.
Reply With Quote
 


Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -4. The time now is 01:46 PM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.