FINANCIAL PLAN

So I’m 26 years old right now, having a career in engineering in accordance to my education back ground as a civil engineer. I have been working for the last 3 years in engineering, either that in design or field engineering. I once heard that after working for five years, you should already know where’s your career path gonna be. Either you should stick to your current job, or get another kind of job or even setting up your own business. Until now, I still not made up my mind to stay in my current field works or starting getting another job.

So in a meanwhile, I think better to plan what I want to do for the next 30 years. Just a small plan and establish what means necessary to achieve that. Maybe from there I could get a clue of what I want to do with my professional life.

So, I made my self a small worksheet of what I plan to do.

And it end up with an empty list. I do have a lot to write cause I have tons of things I want to do. Such as having a family, travel to China, diving, travel to Venezia, learning france, italian and chinese language, learning playing saxophone, have one ATV (all terrain vehicle), have a small store, etc and etc.
Finally I conclude that, I need to set smaller target, I am too complicated as a person in term of what I need.
What I need to make, is a financial plan.

Small target and I decided to use money as a parameter and also use 10% inflation rate to know what exact amount when things need to be accomplished.

My small target are :
1. Wedding party. Estimate around 40 M, finalized 1 year from now.
2. Own house. Estimate around 300 M, finalized around age 35, assuming that I’ll take a loan to do this. So it mean 9 years of life under debt. I think I can handle this.
3. Own car. Estimate around 120 M, finalized around 2 years from now, again assuming I’ll take a loan to do this.

To achieve these targets, I need to save some amount of money every month.

And the calculation shows………
16.3 M / month.
………what an intimidating figure !!!

So I conclude…………………….

I need to set more smaller target, like what would I do for next valentine day .