Entry 14 - Reflection

1. Which of your answers surprised you? Explain.

   

   surprise

   
   

I was surprised by my taxes and my lifetime earnings because I didn’t expect either of them to be so high.

2. Did you expect your lifetime earnings to be as much as you estimated in Entry 12?  Explain.

No I did not, I knew lawyers made a lot so I expected the lifetime earnings to be around $4 million instead of $8 million.

3. 3 .Did you expect your lifetime expenses to be as much as you estimated in Entry 13?  Explain.

Expenses

I didn’t expect my lifetime expenses to be that low. It could be because I assumed the inflation rate would be at a constant 3% but I expected it to be a bit higher.

4. Now that we’ve finished Life Stage 2, how would you change your answer to Entry 8?  Why or why not?

Yes, I feel like I should have spent the $1 million on more practical things like food instead of something like a small airplane.

5. How would you change your answer if you knew that $1 million needed to last you the rest of your life?

I would definitely use the $1 million on more essential things like food, housing, water, etc. Instead of non-essential things like entertainment, quadski, cars, and video games. In order to make the $1 million dollar last I need to cut down on the spending of useless things.