Financial Planning and Career Prospects after Graduation

MAT-144 Major Assignment 2 Name Institution Course Tutor Date Income and Projection How does the given Current Income on the Income and Projection tab compare to your expected salary and desired area of living upon graduation? The income of $90,625 that is shown as the current income on the Income and Projection page is far less than what I had anticipated for my desired salary and the cost of living in my intended region after graduation. I expect a higher beginning salary—probably more than $120,000—given the state of the labour market and the expense of living. The given salary would not allow me to comfortably maintain the lifestyle I have chosen in the selected region; thus, in order to reach my financial objectives, I will need to look for higher-paying jobs or adjust my budget. How much of a single one-time raise would you need to request after working in your career for 5 years to cover the rate of inflation you found? (Assume no other changes in income or expenses. Include a dollar amount and percentage along with how you calculated both in your answer.) In order to meet the anticipated five-year inflation rate, I would need a one-time raise of $4,861.87, or a 5.36% increase in my present salary of $90,625. The difference between the present income and the predicted income over the next five years is the basis for this computation. I must ask for this change in my profession to retain my financial security since the rise would help me keep up with the growing cost of living and preserve my buying power. What careers in your program of study will provide enough income to cover your expected real-world expenses upon graduation? Careers in computer science, engineering, and finance are likely to pay enough when I graduate from my program of study to afford my anticipated post-graduation living expenditures. These industries are good options for funding a nice lifestyle since they often provide competitive pay that matches the cost of living. These professions have strong earning potential, which would help me handle my finances, reach my ideal level of life, and successfully pay for daily needs. Student Loans How much of your future monthly salary would you need to use to pay for the loans calculated in the project? (Assume no projection due to inflation and express your answer in a dollar amount along with a percentage. Include how you calculated both in your answer.) First, figure out the total monthly payment for both loans to get an idea of how much of your future paycheck you would have to pay for both. For the subsidized loan, the monthly payment is around $344.75, and for the unsubsidized loan, it is roughly $6.98. Now, think about your monthly pay in the future. For instance, if your monthly income is $3,000, the subsidized loan payment would be around 11.49% of your take-home pay, whereas the unsubsidized loan payment would be roughly 0.23%. To