Life situation: Currently a university student, 3 years left for a Master's, which is the working degree for my field. No dependents, 2 roommates, cheap state. The numbers I'm looking at are only really accurate for the next year, since I will be switching schools (and states) after that. However, I would be happy to continue living at a similar level of frugality for whatever the next location is.
Gross Salary/Wages: For now, zip-ah-dee-do-dah. After finishing schooling, $50,000 would be reasonable.
Other Ordinary Income: Financial aid to the tune of ~$12,000 per year (For housing, food, etc. Tuition, books, and fees are covered separately).
Taxes: Currently still claimed as a dependent. (Any advice as to when I will need/want to change this if it's before starting a career?)
Current expenses: Listed by the month.
Rent: $200
Electric: $40
Water: $20
Phone: $13
Renter's Insurance: $10
Food and Miscellaneous: $120
Assets:
Parents that are wonderful enough to pay for various forms of insurance while I'm attending college.
Small car, paid in full. 5 years old, 41000 miles, 27 mpg on average.
$17000 in savings
$19000 in a trust
Future Expectations:
I know the savings should be invested, I'll get on that once I know for sure what my financial situation will be while earning the master's. I expect it will be pretty similar to now, but I'd rather have a cushion already under me if it's not.
A house would be in the plans shortly after establishing a career. I think $200,000 is on the high end of a safe range for me.
Let's be honest, I have no idea what I'll be capable of living on after college. $30,000 seems safe, but feel free to adjust as you see fit.
Specific Question(s):
As much as I love the field I'm going into, it would be nice to know when I can hope to safely retire. I'd like to take some time to travel (cheaply, not cruising around the world!) or raise mini humans after the next 10-15 years, but would be happy to drop back into the workforce while they are school-aged.