Miami

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This is an economic simulation of life and all it's expenses after college in Miami.

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Miami

  1. 1. Ashley Geo & Jocelyn Wong
  2. 2. Total Income <ul><li>Ashley </li></ul><ul><li>Occupation: Food Critic/Nutritionist </li></ul><ul><li>Initial Income: $60,000 </li></ul><ul><li>FICA: $4,590 </li></ul><ul><li>Federal Income Tax: $8,850 </li></ul><ul><li>Disposable Income: $46560 </li></ul><ul><li>Jocelyn </li></ul><ul><li>Occupation: Event Planner </li></ul><ul><li>Initial Income: $40,000 </li></ul><ul><li>FICA: $3060 </li></ul><ul><li>Federal Income Tax: $4,183 </li></ul><ul><li>Disposable Income: $32757 </li></ul>
  3. 3. Saving (10% of adjusted income) <ul><li>Ashley </li></ul><ul><li>$4,656 </li></ul><ul><li>Bank of America Checking: eBanking $656 </li></ul><ul><li>Saving: $3,500 </li></ul><ul><ul><li>APY: 0.05% </li></ul></ul><ul><li>Money Market Account: $500 </li></ul><ul><ul><li>APY: 0.13% </li></ul></ul><ul><li>Jocelyn </li></ul><ul><li>$2,375 </li></ul><ul><li>Bank of America Checking: eBanking $375 </li></ul><ul><li>Saving: $1,500 </li></ul><ul><ul><li>APY: 0.05% </li></ul></ul><ul><li>Money Market Account: $500 </li></ul><ul><ul><li>APY: 0.13% </li></ul></ul>
  4. 4. Remaining Income <ul><li>Ashley </li></ul><ul><li>$46560 - $4656 (Savings) = $41904 </li></ul><ul><li>Jocelyn </li></ul><ul><li>$32757 - $2375 (Savings) = $30200 </li></ul>
  5. 5. Rent: One Plaza <ul><li>Address: </li></ul><ul><li>1800 SW 1st Avenue </li></ul><ul><li>City: Miami, Fl </li></ul><ul><li>33129 </li></ul>
  6. 6. Costs and Amenities <ul><li>Lease Term: 1 year </li></ul><ul><li>$1500 per month </li></ul><ul><li>$18000 annually </li></ul><ul><li>Deposit: $1000 </li></ul><ul><li>Renter's Insurance Cost: $300/month </li></ul><ul><li>Living Cost: $18,000 </li></ul><ul><li>Total Shared Living Cost: $18000 + $3600 + $1000= $22600 (11,300 each) </li></ul><ul><li>Luxury High-Rise apartment </li></ul><ul><li>1021 sq. ft </li></ul><ul><li>2 bedroom, 2 bathrooms </li></ul><ul><li>Covered Parking Garage </li></ul><ul><li>Large Swimming Pool and Spa </li></ul><ul><li>Wood floor </li></ul><ul><li>Full-Size Washer and Dryer </li></ul><ul><li>Granite Counters </li></ul><ul><li>Balconies with Glass Railings </li></ul><ul><li>Floor-to-Ceiling Sliding Doors </li></ul><ul><li>Energy Efficient Tinted Glass </li></ul><ul><li>Fitness/Cardiovascular Center </li></ul>
  7. 7. <ul><li>Ashley </li></ul><ul><li>$41904 – $11,300 (total living cost) = $30604 </li></ul><ul><li>Jocelyn </li></ul><ul><li>$30200 - $11,300 (total living cost) = $18900 </li></ul>Remaining Income
  8. 8. Healthcare <ul><li>This Blue Cross and Blue Shield plan is developed in collaboration with Miami-Dade County. It’s designed specifically to meet the needs of the uninsured struggling with the high cost of health care. (This is perfect for two fresh-out-of-college students) </li></ul><ul><li>Along with affordable premiums, Miami-Dade Blue exclusively offers savings on services such as: </li></ul><ul><li>• Routine care, including visits to a family physician or specialist and adult routine physicals and well child visits </li></ul><ul><li>• Prescription drugs </li></ul><ul><li>• Routine dental care, such as cleanings, fillings, X-rays </li></ul><ul><li>• Hospital stays and surgeries </li></ul><ul><li>• Visits to urgent care centers and clinics </li></ul>
  9. 9. Healthcare <ul><li>Ashley </li></ul><ul><li>Miami-Dade Blue Plan $936 for a year of insurance </li></ul><ul><li>$83/per month </li></ul><ul><li>10% coinsurance </li></ul><ul><li>$250 deductible/year </li></ul><ul><li>Individual coverage </li></ul><ul><li>Jocelyn </li></ul><ul><li>Miami-Dade Blue Plan$936 for a year of insurance </li></ul><ul><li>$83/per month </li></ul><ul><li>10% coinsurance </li></ul><ul><li>$250 deductible/year </li></ul><ul><li>Individual coverage </li></ul>
  10. 10. <ul><li>Ashley </li></ul><ul><li>$30,604 - $936 (healthcare cost) = $29,668 </li></ul>Remaining Income <ul><li>Jocelyn </li></ul><ul><li>$18900 - $936 (healthcare cost) = $17,964 </li></ul>
  11. 11. Transportation <ul><li>Ashley Geo & Jocelyn Wong </li></ul><ul><li>$1020 per year on a public transit pass </li></ul><ul><ul><li>22-mile, elevated transit system that runs throughout the city, including downtown region where our apartment is located </li></ul></ul><ul><ul><li>22 accessible Metrorail stations are about one mile apart, providing easy access for bus riders, pedestrians, and passengers </li></ul></ul>
  12. 12. Remaining Income <ul><li>Ashley </li></ul><ul><li>$29,668 - $1,020 (transportation) = $28,648 </li></ul><ul><li>Jocelyn </li></ul><ul><li>$17,964 - $1,020 (transportation) = $16,944 </li></ul>
  13. 13. Rent Utilities (shared) <ul><li>Electricity: $960 annually </li></ul><ul><li>Phone: $264 annually </li></ul><ul><li>Internet: Included </li></ul><ul><li>Water: Included </li></ul><ul><li>Air Conditioning: Included </li></ul><ul><li>Total Shared Utilities Cost: $1224 ($612 each) </li></ul><ul><li>Ashley’s Mobile Plan: </li></ul><ul><li>AT&T: $90/month = $1080 annually </li></ul><ul><li>Jocelyn’s Mobile Plan: </li></ul><ul><li>AT&T: $90/month = $1080 annually </li></ul>
  14. 14. Remaining Income <ul><li>Ashley </li></ul><ul><li>$28,648 - $612 (utilities) = $28,036 </li></ul><ul><li>Jocelyn </li></ul><ul><li>$16,944 - $612 (utilities) = $16, 332 </li></ul>
  15. 15. Food (shared) <ul><li>Basics </li></ul><ul><li>Milk: $360/year </li></ul><ul><li>Eggs: $120/year </li></ul><ul><li>Rice/Grains: $120/year </li></ul><ul><li>meat & poultry: $1200/year </li></ul><ul><li>fruits & vegetables: $900/year </li></ul><ul><li>Extras </li></ul><ul><li>Baking Ingredients: $180/year </li></ul><ul><li>Spices: $360/year </li></ul><ul><li>Processed Foods: $300/year </li></ul><ul><li>Dining out (per individual) </li></ul><ul><li>$200/year </li></ul><ul><li>$4,170/year per individual </li></ul>
  16. 16. Remaining Income <ul><li>Ashley </li></ul><ul><li>$28,036 - $4170 (Food) = $23,866 </li></ul><ul><li>Jocelyn </li></ul><ul><li>$16, 332 - $4170 (Food) = $12,162 </li></ul>
  17. 17. Extracurricular Activities <ul><li>Ashley </li></ul><ul><li>Biking: free (bike already owned) </li></ul><ul><li>Running on the beach: free </li></ul><ul><li>Gym/Fitness Center: Included in apartment amenities </li></ul><ul><li>Movies: $300/year </li></ul><ul><li>Jet Ski rentals: $119/hour </li></ul><ul><ul><li>Average 6 hours/year </li></ul></ul><ul><li>Clothes shopping: $300/month </li></ul><ul><li>Beach days: free </li></ul><ul><li>Travel/vacation: $2000/year </li></ul><ul><li>Musicals: $200/year </li></ul><ul><li>Random Expenses: $17,052 </li></ul><ul><li>Jocelyn </li></ul><ul><li>Spa Days: $300/month </li></ul><ul><li>Running on the beach: free </li></ul><ul><li>Biking to the beach: free (bike already owned) </li></ul><ul><li>Horseback Riding: $60/lesson </li></ul><ul><ul><li>1 lesson/week </li></ul></ul><ul><li>Gym/Fitness center: Included in apartment amenities </li></ul><ul><li>Jet Ski rentals: $119/hour </li></ul><ul><ul><li>Average 6 hours/year </li></ul></ul><ul><li>Clothes shopping: $200/month </li></ul><ul><li>Beach Days: free </li></ul><ul><li>Travel/vacation: $2000/year </li></ul><ul><li>Art Museums: $50/month </li></ul><ul><li>Random Expenses: $2,128 </li></ul>
  18. 18. Works Cited <ul><li>Apartments for Rent | An Apartment Finder & Guide for Rentals - ForRent.com . Web. 07 June 2011. <http://www.forrent.com/>. </li></ul><ul><li>&quot;Bank of America.&quot; Bank of America Florida. Web. 07 June 2011. < http://www.bankofamerica.com/foundation/index.cfm?template=fd_grantlistingsdetail>. </li></ul><ul><li>&quot;Coverage for Health.&quot; Blue Cross and Blue Shield of Florida. Web. 5 June 2011. </li></ul><ul><li>&quot;Florida Foods: Oranges, Mangos, Hearts of Palm, Avocados, Paw Paw...&quot; South Florida Vacation Travel Planner & Trip Guide, Weather, Florida Facts, Florida Foods and More! Web. 07 June 2011. < http://www.southfloridavacation.com/florida_foods.html>. </li></ul><ul><li>&quot;Miami Transportation - Car, Train, Bus & Taxi - VirtualTourist.&quot; Travel Guides, Hotel Reviews, Photos, Forums, Deals - VirtualTourist.com . Web. 07 June 2011. <http://www.virtualtourist.com/travel/North_America/United_States_of_America/Florida/Miami-763637/Transportation-Miami-TG-C-1.html>. </li></ul><ul><li>[Netscape, Text/notepad (tkmsa;jbh1). &quot;Miami & Miami Beach Local Cruises on Private Yacht Charters and Boat Rentals in Miami,Florida.&quot; Miami Yacht Charter. Miami Boat Charters. Miami Yacht Charters. Miami Boat Rentals; Miami Party Yachts, Miami Party Boat Rentals, Miami Florida Boat Charter. Luxury Yacht Charters & Boat Rentals in Miami, Florida . Web. 07 June 2011. <http://www.miamicharters.com/2002/cruises/cruises.asp> </li></ul><ul><li>&quot;Miami-Dade County - Transit.&quot; Metrorail. Web. 07 June 2011. < http://www.miamidade.gov/transit/>. </li></ul>
  19. 19. The End of Our Good Life In Miami

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