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Future Dominic Heilman

Dominic Heilman is considering attending the California Institute of Technology for undergraduate studies in software development. The estimated total cost is $74,763 per 9 month term, or $299,052 for a 4-year bachelor's degree. Heilman plans to apply for scholarships, grants, loans, and work study to help pay tuition costs. After graduating, Heilman expects to get an entry-level job paying around $55,000 annually, which would allow for a monthly budget of $1,806 for necessities, $1,083.60 for wants, and $722.40 in savings. Later in his career, Heilman could earn over $100,000 annually as a software developer

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68 views6 pages

Future Dominic Heilman

Dominic Heilman is considering attending the California Institute of Technology for undergraduate studies in software development. The estimated total cost is $74,763 per 9 month term, or $299,052 for a 4-year bachelor's degree. Heilman plans to apply for scholarships, grants, loans, and work study to help pay tuition costs. After graduating, Heilman expects to get an entry-level job paying around $55,000 annually, which would allow for a monthly budget of $1,806 for necessities, $1,083.60 for wants, and $722.40 in savings. Later in his career, Heilman could earn over $100,000 annually as a software developer

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We take content rights seriously. If you suspect this is your content, claim it here.
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The Future

Dominic Heilman
Attending the California Institute of
Technology

● Total fees for a 9 month term are estimated at $74,763 for an undergraduate attending
Caltech
● A bachelor’s degree is required for my chosen career, and it will take 4 years of study to
earn one ($299,052)
● This can be paid for through private scholarships, grants, and part time jobs/work study
● I can also apply for a subsidized loan from Stafford, with an interest rate of 4.53%
● Loan must be repaid over ten years
● I will owe Stafford $31,000 plus interest if I borrow the maximum , which pays for about
15% of my total expenses
● Entry level Software Developer jobs earn about $55,000 a year
My Entry Level Budget

● I make about $57,485 a year at an entry level Software Developing job, according to
Ziprecruiter.
● A monthly 50/30/20 budget based on that would look like this:

50% for necessities 30% for wants 20% for savings & debt
repayment

$1,806 $1,083.6 $722.4


My Career Budget

● I make about $103,620 a year as a Software Developer, according to bls.gov.


● A monthly 50/30/20 budget based on that would look like this:

50% for necessities 30% for wants 20% for savings & debt
repayment

$2,933.50 $1,760.10 $1,173.40


A Dream Home

● 117 Aldrich Drive


● $325,000
● 4 bedrooms
● 3 bathrooms
Buying My Dream Home

● Credit score of 800


● My chosen house costs $325k
● Investing in my youth will cover parts of the cost of a down payment, along with savings
● Due to my 6 figure salary, I will apply for a 15 year fixed rate mortgage from my bank
● 10% down payment of $32.5k
● Mortgage payments estimated at $2,335 a month
● Fixed interest rate of 3.25%
● My budget estimates cover the cost of the mortgage payments

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