| A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 | Please make a copy of this template for your own use. Instructions: 1. Enter in your K12 residency stipend in the darker yellow box (typically between 15-20K). Enter in any scholarships/grants into the lighter yellow box. 2. Enter in the estimated full time teacher salary into the light green box in Row 8 Note include your Master's degree in that estimate. 3. Enter your current salary into the light purple box in Row 22. Note: this spreadsheet assumes a 3% COLA increase for both salaries. | ||||||||||||||
2 | Financial Planning: 10 Year Comparison | ||||||||||||||
3 | |||||||||||||||
4 | Sample Teacher Residency to Full-Time Teacher Track (10 Years) | ||||||||||||||
5 | Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | Ten Year Total | |||
6 | Incoming Funds | ||||||||||||||
7 | Stipend/Pay | $15,000 | $54,000 | $55,620 | $57,289 | $59,007 | $60,777 | $62,601 | $64,479 | $66,413 | $68,406 | $563,592 | |||
8 | Scholarships | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |||
9 | Subtotal | $15,000 | $54,000 | $55,620 | $57,289 | $59,007 | $60,777 | $62,601 | $64,479 | $66,413 | $68,406 | $563,592 | |||
10 | Outgoing Funds | ||||||||||||||
11 | Tuition | -$19,500 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$19,500 | |||
12 | Living Expenses | -$25,000 | -$25,750 | -$26,523 | -$27,318 | -$28,138 | -$28,982 | -$29,851 | -$30,747 | -$31,669 | -$32,619 | -$286,597 | |||
13 | Taxes | -$1,500 | -$13,500 | -$13,905 | -$14,322 | -$14,752 | -$15,194 | -$15,650 | -$16,120 | -$16,603 | -$17,101 | -$138,648 | |||
14 | Subtotal | -$46,000 | -$39,250 | -$40,428 | -$41,640 | -$42,890 | -$44,176 | -$45,502 | -$46,867 | -$48,273 | -$49,721 | -$444,745 | |||
15 | |||||||||||||||
16 | Total | -$31,000 | $14,750 | $15,193 | $15,648 | $16,118 | $16,601 | $17,099 | $17,612 | $18,141 | $18,685 | $118,847 | |||
17 | Cumulative 10 Year Total = ~$119,000 | ||||||||||||||
18 | |||||||||||||||
19 | Sample Paraprofessional Track (10 Years) | ||||||||||||||
20 | Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | Ten Year Total | |||
21 | Incoming Funds | ||||||||||||||
22 | Stipend/Pay | $35,360 | $36,421 | $37,513 | $38,639 | $39,798 | $40,992 | $42,222 | $43,488 | $44,793 | $46,137 | $405,363 | |||
23 | Scholarships | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |||
24 | Subtotal | $35,360 | $36,421 | $37,513 | $38,639 | $39,798 | $40,992 | $42,222 | $43,488 | $44,793 | $46,137 | $405,363 | |||
25 | Outgoing Funds | ||||||||||||||
26 | Tuition | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |||
27 | Living Expenses | -$25,000 | -$25,750 | -$26,523 | -$27,318 | -$28,138 | -$28,982 | -$29,851 | -$30,747 | -$31,669 | -$32,619 | -$286,597 | |||
28 | Taxes | -$8,840 | -$9,105 | -$9,378 | -$9,660 | -$9,949 | -$10,248 | -$10,555 | -$10,872 | -$11,198 | -$11,534 | -$101,341 | |||
29 | Subtotal | -$33,840 | -$34,855 | -$35,901 | -$36,978 | -$38,087 | -$39,230 | -$40,407 | -$41,619 | -$42,867 | -$44,154 | -$387,938 | |||
30 | |||||||||||||||
31 | Total | $1,520 | $1,566 | $1,613 | $1,661 | $1,711 | $1,762 | $1,815 | $1,869 | $1,925 | $1,983 | $17,425 | |||
32 | Cumulative 10 Year Total = ~$17,000 | ||||||||||||||
33 | |||||||||||||||
34 | Cumulative Total Comparison | ||||||||||||||
35 | Residency Track Cumulative 10 Year Total = ~$119,000 | ||||||||||||||
36 | Paraprofessional Track Cumulative 10 Year Total = ~$17,000 | ||||||||||||||
37 | Cumulative Difference = $102,000 | ||||||||||||||
38 | |||||||||||||||
39 | Note: This is a sample based on a residency with a $15,000 stipend and a sample district payscale. It should only be used as a reference. We encourage you to reach out to admissions@aldergse.org to create your own comparison based on your salary and residency stipend (from $10,000-$20,000). | ||||||||||||||
40 | |||||||||||||||