Dreamy

It is that time of the year again. Christmas. Wonderful. This Christmas, as planned, is going to be celebrated in KL. Nice. For the past 2 years, it was winter Christmas in Japan. I wish to be able to go back to Japan for winter soon. I guess, I have to wait till next year, where I hold a stable job and is able to go on a trip, all paid by myself and go there alone to enjoy the mood and the shopping again.

Yesterday while talking to a friend, I realised the importance of financial planning (well I have always acknowledge the importance but am always too poor to do it systematically). I have decided to retire in 20 years times from the moment I got my next job after graduation. And of course I want to live a comfortable middle-upper life after retirement. SO how much should I save then? I did not do the financial projections but realised that I do need alot. So that means that I will have to find a high flying job and slog for 20 years, build up an empire. Not too bad.

My long term plan :

• In 1 year's time Aug 2006- Dec 2007 : A full time prospect job, earning about $3500 per a month. $3,500 x 12 = $42,000 + $ 7,000 (bonus) = $49,000.
• Savings (20% of monthly income) = $8,400 + $7,000 = $15,400.
• In 10 years' time: Age: 35, should be earning about $10,000. $10,000 x 12 = $120,000 + $30,000 (bonus) = $150,000.
• Savings (30% of monthly income) = $36,000 + $30,000 = $66,000