15 Year Real Life Plan Year 2015 I plan to graduate in Spring 2015. After graduation, register for a doctorate in industrial engineering at Georgia Technological University or the University of Michigan – Arbor. I will use my student loan to pursue my doctorate. I plan to work on campus for a year to support myself. I will buy a used car (Honda Accord 2005) for my basic needs. Year 2016 After my first year of PhD, I plan to work under the supervision of a professor whose area of ​​expertise is power engineering. supply chain. After I get the chance to become a research assistant, I plan to start doing real-time research. I will apply for scholarships and institute fees. I will also quit my on-campus job and use my stipend for living expenses. Year 2017 I plan to complete my research on my doctoral program this year and will obtain $20,000 in funding for my research work. I will also start looking for jobs as a professor, so that I have the opportunity to continue my research work as well as at a university with good research funding. Year 2018In 2018, I intend to complete all my research work and complete my studies. Graduate with a doctorate and start working as a professor. I plan to graduate in the summer of 2018. After graduation, I will earn $90,000 working as an assistant professor at the University of Michigan. I will exchange my old car for a new car (Range Rover 2017) on EMI basis for 36 months. I am also planning to move to a larger fully furnished premium 2BHK apartment. I will also start paying off my student loan over the next 2 years. I will also start saving money to buy a house and for my wedding.Year 2019In 2019, I plan to visit India in summer for a month. I also plan to visit a few places in India. This year, I also plan to research real-time optimization...... middle of paper ......50 444000696683Assumptions:[1] Certain tax rates and interest rates are based on assumptions.[2] Cost of living is assumed.[3] The T-bar (foreign investment tax) is neglected.[4] Out-of-pocket expenses are based on assumptions. References:[1] Notes by Dr. Susan Ferreira, Advance Engineering Economy (IE 5304).[2] The Economic Analysis of Capital Expenditures for Managers and Engineers, GT Stevens. Jr.[3] Automobile prices based on Enterprise Inc.[4] Real estate prices are based on 99acers.com.[5] Bank tax rates are based on those of the State Bank of India.[6] Holiday prices are based on yatra.com.[7] Insurance prices based on www.healthcare.gov[8] Salary taken from www.salary.com[9] Budget worksheet referenced from http://moodleshare.org /pluginfile.php/10848/mod_assign/intro/Copy_of_personal -budget-spreadsheet.xls