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Fancy figuring...planning ahead

August 30th, 2006 at 07:19 pm

I am a planner! My plans don't always work, but I enjoy the process of planning the plan. Wink

I just did some figuring with my salary and pay scale. If I can complete 5 more course between now and the Fall of 2008, I will be bumped up to a Master's +20 pay which works out to about $280 more per month after taxes. If I can complete an additional 3 classes by Fall of 2009, I will be bumped up to a Master's +30 pay which works out to about $480 per month after taxes. And that is without taking into consideration cost of living increases, because they aren't a sure thing. (These are very rough figures not taking into consideration things like tax brackets. I simply figured the difference between my gross monthly pay and my net monthly pay is 30%. EEK! I figured the rest out accordingly.)

Here's another "if". AFTER we eliminate our debt (not IF, but AFTER), and IF we can pay off our car loan by Fall of 2009, we will have approximately $1200 left over after all bills are paid for living expenses. This is exactly what we are used to right now eliminating what we pay out toward debt. This is good news! This means we can live entirely off off my salary within 3 years!

My goal all along has been to eventually live off of one salary and invest the other. There is a light at the end of the tunnel! The light is 3 years and a pretty specific plan away, but it is there, none-the-less.

2 Responses to “Fancy figuring...planning ahead”

  1. boomeyers Says:
    1156962306

    Wow! Way to crunch the numbers! It is good to have a goal to achieve and what a great goal it is! Good luck!

  2. LuxLiving Says:
    1157034483

    Stick with it - you'll make it!! I like making these kind of projections myself. If you can dream it you can make it happen. We all know that if we head for nowheresville that's exactly where we'll end up! You are heading in the right direction.

    I'm pulling for you!!

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