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AMDM Finance Project

Presentation by: Miyanka Kernizan
by

Miyankaa Kernizan

on 27 May 2014

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Transcript of AMDM Finance Project

A Career in Physicians Assistiting
Career-Physician Assistant
>PAs obtain medical histories conduct physical examinations, diagnose and treat illnesses, prescribe medication , order and interpret lab tests, perform procedures, assist in surgery, provide patient education and counseling and make rounds in hospitals and nursing homes.

>Education to obtain PA title is modeled on the medical school curriculum, a combination of classroom and clinical instruction. The average length of a PA education program is 26 months.

>A physician assistant (PA) is a medical professional who is nationally certified and state-licensed to practice medicine. All PAs are graduates of an accredited PA educational program. PAs are licensed to practice and authorized to prescribe medication in all 50 states, the District of Columbia and all U.S. territories with the exception of Puerto Rico. They practice medicine in all settings and specialties.
>Education/requirements: PhD, internship, pass the Professional Practice Exam
>Costs: $27, 512(Undergrad at MCPHS scholarship given with money left over to be used toward 1 year of Grad school),
$36,704(Grad at Emory University for 3 years $110,112 ),
$110,112(total)
Income/taxes
>annual gross salary: $94,186
>monthly gross salary: $7,849.50
>monthly taxes: $2,384.88(total)
*monthly net salary: $5,464.62
Budget
>Total Monthly Budget (5,464.62):
>Housing (29%): $1,617.79
>Transportation (16.7%): $916.75( car payments & gas)
>Utilities (7.8%): $431.41
>Food (4.4%): $239.26
>Debt (12.6%): $687.96
>Savings (23.7%): $1,294.23
>Entertainment (5.9%): $323.56
>Misc./Other (4.9%): $269.63
Housing
>3 bed, 2 bath, 1654 sqft
>single-family home
>Atlanta, GA (Grant Park)
>for sale at: $185,000
>Must save $513.89 each month for 36 months in order to reach the down payment cost ($18,500) in 3 years
>Finance $166,500 for 30 years at 3.55% APR
*monthly payment: $829
>TOTAL payment for home: $316,940
What I Learned:
>spending 8 years in college to become
a Physicians Assistant hardly pays enough to live in downtown Atlanta
>taxes take out A LOT
> the location is expensive
> I would still have debt
>Renting instead of buying would be the better option
>Yes, this project was helpful: it allowed me to practice financial planning, preparing me for the future
Housing payments
Buying A Car
>Type of car: 2010 Silver Mercedes G class Jeep
>Sports Model
*radio/CD player/ aux port
*powered windows
*4 wheel drive
*GPS
*entertainment system
*Leather seats with warmers
Car financing
>Cost ( trade in value) of $49,576
Dealer retail $54,087
>Monthly car loan payment: $650.57 (w/ $10,000 down payment, 4.8% APR for 3 years)
Miyanka Kernizan
Full transcript