Financial Planning of a Carpenter

1
Financial Planning of a Carpenter

• By Michele A.
• Charis A.
• Shiana D.

2
What I Do

• My occupation as a carpenter enables me to do
  many things. I work from blueprints,I measure, I
  mark, and arrange materials.I check the accuracy
  of my work with levels,rulers,plumb bobs, and
  framing squares. I am paid 18.50 hourly.

3
My Yearly Income

• Each year, I accumulate a gross income of
  31,938.36. But after my Federal(5595.24), State
  (1272.84), and FICA (2545.68) taxes, my yearly
  Net Income is 22,524.60.

4
My Fixed Expenses

• Each year, I spend 5,400 on mortgage payments
  for thirty years.
• Annually, I spend 600 a piece on telephone bills
  (cellular and home.)
• Every five years, I spend 2,380 on my car,
  considering I buy a new car every ten years.
• My total fixed expenses adds up to 8,980 yearly.

5
Variable Expenses

• 1,200 annually is spent on food and 600 a piece
  is spent on clothes and entertainment.
• My total variable expenses equal 2,400 dollars.

6
Total Expenses

• My total expenses, annually, adds up to 11,380
  dollars.
• If I deduct the 11,380 from my Net Income, my
  money available to save equals 11,144.60 each
  year.

7
Long Term Goals

• My Long-Term Goals include
• Buying a used Honda Accord for 11,900 dollars.
• Buying a condo in Atlanta, Georgia.
• Lastly, retiring by age sixty-five with at least
  one million dollars.

8
Retirement

• After the age of 65, I will have a net worth of
  3,784,981.60. At that time, I will sell my
  present car and buy a Mercedes Benz for 46,000.
  I will be living a life of luxury!

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The End