Directions

In Module 12, we have been learning about economics. This is a topic that affects all of us and this assignment is your opportunity to do some research into your own life, career, and life aspirations. After you have finished reading, complete this assignment:

Discuss, realistically, your professional aspirations and how you will attain them.

Predict your level of income during the first year after graduation, five years after, and then ten years after. Make sure you research starting salaries of persons in your chosen field (in your local community). Do you consider this to be low, middle or high income?

Research the cost of living in your area. About how much each month are you be able to spend on an apartment or home if you spend 50% of your monthly income for housing? Will this afford you a living space in the place you plan to live in your community? Why or why not?

Based on the cost of living in your area, will you be able to purchase a home? If so, when will you purchase one, what will be the cost, and how will you save to make at least a 25% down payment for the home? What will be your approximate house payment each month for the home?

Is this more or less than you anticipate spending if you spend 50% of your monthly income for housing? Does this monthly payment include taxes and insurance? What would be the cost of those each month?

Write your answer as one 3-5 paragraph essay. Your essay should be at least 500 words and appropriately have an introduction, body, and conclusion.

The references you use for cost of living and salaries may include your textbook or any other reliable sources. You should be sure to cite your source within the essay and list a bibliographical reference to the source at the end of the essay using the APA format.