 Devote much of your time to your career & becomes a part of your identity  How much time do you really spend at work?  40 hours52 weeks 40 Years.

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Presentation transcript:

 Devote much of your time to your career & becomes a part of your identity  How much time do you really spend at work?  40 hours*52 weeks *40 Years = 83,200 hours  83,200/24 ≈ 3,467 Days  3467/365 ≈ 9 ½ Years  More motivation

 How much does your career path pay? How much does your career path pay?  Salary  Annual wage  Can have variable or self managed work hours  Commission  Paid per project or by performance  Less reliable & stable income  Hourly Wage  Paid by the hour  Possibility for overtime

 Health Insurance  Better plans possible through job vs individual insurance  Employer can pay partial or entire insurance premium  Life Insurance  Employer can pay partial or entire insurance premium

 Work time vs Free time  Amount of work ?  Is the pay worth the amount of work?  1 st, 2 nd, or 3 rd shift  When time of day do you prefer to work?  Steady vs variable work hours  Is work reliable?  How does work hours fit with other obligations  Paid time off & Sick Days

 Promotions  New job title  Expansion of resume  Bonus  Wage increases  Based on performance or promised annual increase?  Other fringe benefits

 Transportation time  Commute time  Transportation costs  Gas costs  Parking costs  Public transportation costs  Work from home  Cost of living  How much do need to make depending on where you live? How much do need to make depending on where you live?

 Dependent Flex Spending Account  Fees for licensed day care or adult care facilities.  Amounts paid for services (including babysitters or nursery school) – provided in or outside of your home – for the care of a qualified dependent necessary to allow you and your spouse to work, look for work, or attend school full-time.  Placement fees for a dependent care provider, such as an au pair.  Summer day camp for children under age 13 qualifies if attendance allows you and your spouse to work, look for work, or for your spouse to attend school full-time.  Before and after school care programs for dependents under age 13.  Payment to a relative (age 19 or older who is not your dependent) who cares for your qualified dependent.  Payment to a housekeeper whose duties also include dependent day care.  Health Flex Spending Account  Periodic health evaluations, including tests and diagnostic procedures ordered in connection with routine examinations, such as annual physicals  Routine prenatal and well-child care  Child and adult immunizations  Tobacco cessation programs  Obesity weight-loss programs  Screening services. This includes screening services for the following: a. Cancer. b. Heart and vascular diseases. c. Infectious diseases. d. Mental health conditions. e. Substance abuse. f. Metabolic, nutritional, and endocrine conditions. g. Musculoskeletal disorders. h. Obstetric and gynecological conditions. i. Pediatric conditions. j. Vision and hearing disorders

 How much must you earn to retire at a certain age? How much must you earn to retire at a certain age?  Employer Retirement Accounts  401(k)/403(b)  Defined Contribution Vs Defined Benefit  Other retirement accounts