Assignment # 2: Explore Income Levels - What % Are You In?
The "Occupy" movement has made a statistical percentage the focus of their protests. These people are typically those who have high incomes.
Irregardless of your beliefs about this population or the movement in general, it is interesting to statistically know where your occupation may fall given its income level.
Check out this weblink to find out what percentage an income would fall into for any given career - remember 50% means that half of the people are above or below you:http://www.nytimes.com/interactive/2012/01/15/business/one-percent-map.html
So this begs the question, what occupations make the most? The following link provides a chart to show you what these wealthy individuals/families do for a living that make them wealthy:http://www.nytimes.com/packages/html/newsgraphics/2012/0115-one-percent-occupations/index.html
Don't know how much money you will need to earn in the future? Don't know which occupation to choose? No problem!
Get a reality check on your expectations of life:http://www.californiarealitycheck.com
Complete steps 1, 2, and 3. This will help you begin to understand the complexities of choices that will determine your future.
Assignment # 3: How do you compare? Can you buy a house? The US Census Data
The United States conducts a census every ten years to determine some facts about people who live in the U.S.A. Since you are looking at future occupations, it is important to find out what level of annual income will afford you the type of lifestyle that you would like to enjoy.
This link will give you the census information on Gold River, CAhttp://quickfacts.census.gov/qfd/states/06/0630345.htmlLook for two meaningful stats:
1. Median household income
(this is how much the average family makes in Gold River during the years listed - keep in mind it is a total for the whole household. This may include both parents working full/part time or the family could only have one wage earner.)
Ask yourself, how does this compare to the salary that was listed in your occupation?
2. Median value of owner-occupied housing units
(this is how much the average home costs in Gold River)
Visit this website to determine what type of home you could afford based on your salary for the occupation you selected:http://www.realtor.com/home-finance/financial-calculators/home-affordability-calculator.aspx
Gross Income = Insert your salary from the occupation you selected
Minimum Monthly Debt Payments = Credit card balances, Car loans or payments, etc (Stick with the default of $300)
Funds Available for Home Purchase = Your savings that you can put down towards the overall purchase price. (Remember this is your savings account money. If you wanted to see what it would be for just the salary then enter $0 for the value.)
Mortgage Rate = a percent the bank charges you to borrow the money for your home. Just go with the default.
Ask yourself, what type of home would this occupation afford me? Could I live in my present community with this occupation level?Assignment # 4: Final Evaluation Assignment: Due by End of Your Term
Please answer the following questions and submit them to Mr. Boster either on paper or by email:
1. What were the highlights of your internship?
2. What did you learn from your internship?