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Old 12-28-2013, 12:31 PM   #81
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To a chili purist, that's like saying you've been a real man but since learning about estrogen pills you're thinking about batting for the other team...
There are medical people who keep saying too much red meat is bad for you. And as I am getting older, and after the health scare I have had, I have to be more careful.

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I don't get this.. Doesn't anyone on this site give to Charity or gift to family at all??
You apparently did not see my post elsewhere about giving my daughter the 20% down payment for her home (not this year), nor my giving 0.5%WR to charity this year out of the 3.5% WR. How often do I have to brag about these?
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Old 12-28-2013, 12:34 PM   #82
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I have been eating chili without beans. Then, recently I learned about Beano, so I may try beans again.
Other igestive enzymes help without the Beano downside. Or, you can soak the beans for a day before cooking. Should be fine.

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To a chili purist Texas-style chili-like meat dish purist
FIFY

Chili without beans is like Tex-Mex without the Mex.
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Old 12-28-2013, 12:38 PM   #83
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I don't get this.. Doesn't anyone on this site give to Charity or gift to family at all??
We don't really have a ton of extra money to give money to other places. Most charities these days seem to waste the money they are given (or at least more than I would like) and not very many "seem" to stand up to a hard scrutiny. I didn't even give to the Salvation Army folks this year because of their (alleged) discrimination in hiring practices etc . And I seem more and more to be turning into a cheap bastard.

And I have to agree with REWahoo that chili without beans should have horrible consequences for the infidels....burning in hell.....Spanish Inquisition (Nobody expects them!!)......
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Old 12-28-2013, 12:39 PM   #84
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Exceeded the budget this year by 7% but still held the withdrawal rate to 3.5% of our initial portfolio. Using the 4% rule and adjusting for inflation over the last eight years the withdrawal rate would have been ~4.7%, so I think we're still in the comfort zone.
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Old 12-28-2013, 12:47 PM   #85
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I don't get this.. Doesn't anyone on this site give to Charity or gift to family at all??
I personally don't. I don't do gifts because I have no kids, nieces, nephews, ect. I don't give to charity because i'm closer to needing charity than being able to give it. I made $16K this year and don't expect to make more than around $25K/yr going forward. My net worth at age 34 is only $1XX,XXX. I have a hard enough time taking care of myself and don't feel it's appropriate for me to give my money to others. If I were in the withdrawal phase and had money to spare then i'd give to individual people/families not to large charities that waste large amounts of the donations.
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Old 12-28-2013, 12:48 PM   #86
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Other igestive enzymes help without the Beano downside. Or, you can soak the beans for a day before cooking. Should be fine.


Beano is the trade name of a supplement containing Alpha galactosidase, an enzyme that breaks down complex carbohydrates including one whose name I forget that no human can digest, yet is present in beans and vegetables such as cauliflower and broccoli.
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Old 12-28-2013, 12:48 PM   #87
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Exceeded the budget this year by 7% but still held the withdrawal rate to 3.5% of our initial portfolio. Using the 4% rule and adjusting for inflation over the last eight years the withdrawal rate would have been ~4.7%, so I think we're still in the comfort zone.
Now this is what I think is a sensible post. So far in retirement, I just don't see how people can withdraw and spend an exact percentage. Life just doesn't seem to work that way! It mystifies me when people say they withdraw and spend 3.5%, or 4%, for example. What works better for me is to just bracket what percentages are acceptable for me... "the comfort zone", as you put it.
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Old 12-28-2013, 12:54 PM   #88
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Even with an economy car, you're still looking at over 20k for those three items. And that only put you 2% over plan Either you did a good job cutting elsewhere or you have wickedly expensive plan!
I did plan for the car(no not even close to economy) but the roof and generator were much more expensive than anticipated. Yes we spend a lot. See what I mean about comparing expenses?
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Old 12-28-2013, 12:58 PM   #89
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To a chili purist, that's like saying you've been a real man but since learning about estrogen pills you're thinking about batting for the other team...
Love your Avatar photo. I should have thought of that. "I get more than enough to eat at home" Maybe he should get some Beano?
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Old 12-28-2013, 01:06 PM   #90
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...Most charities these days seem to waste the money they are given (or at least more than I would like) and not very many "seem" to stand up to a hard scrutiny...
Besides Red Cross, I donate mostly to a couple of small foreign organizations that do charity work in poor places such as Burma. My sister-in-law has vetted these organizations. I do not even claim tax deduction, as I am not sure about the IRS rule. It may not recognize these unknown foreign organizations.

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I personally don't....I don't give to charity because i'm closer to needing charity than being able to give it...
When I did not feel flush, I did not donate much either.
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Old 12-28-2013, 01:12 PM   #91
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Here's mine -

9718 - Groceries inc food, household products, paper goods, vitamins, etc
1231 - Gasoline
3648 - Other -normal spending that's not gas, groceries or medical. Things like bird feed, minor car mtnce, minor household repairs, gifts, clothing. It's a broad misc category budgeted at $300/mo.
1793 - City Utilities. Our city bill includes water, sewer, electricity, trash and recycling.
685 - Internet
1210 - DirecTV
840 - Natural gas for heat, water heater and gas stove.
64 - Netflix for 8 months
704 - Car insurance
816 - Term Life Insurance for both of us.
2536 - Property taxes
314 - Homeowners Insurance
1460 - Pocket cash for both of us
1325 - Eating Out
2302 - Income Taxes - Federal, State and City
4512 - Medical Insurance Premium (retiree plan deducted from pension payment)
1512 - Medical co-pays and deductibles and dental visits. DH got new glasses.
1593 - Extra one time expenses - DH's travel, new washer.

36,263 - Total (average of 3022/mo)

In 2013 we didn't have any of the large expenses that we had in 2010 (windows), 2011 (HVAC replacement), 2012 (new roof). But in 2010,2012, and 2013 we didn't have that large medical insurance premium because we had the option of a very low cost plan with a large deductible. For 2014 we have a low cost HDHP ACA plan, but I'm sure our deductibles will be much higher.

Our son moved out Nov 1st and we are already seeing a nice drop in the grocery and utilities categories .

It's always an interesting exercise to do this at the end of the year.
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Old 12-28-2013, 01:14 PM   #92
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I agree.. I budget for "a rainy day".. I include money for house repair, a new car, new toys like cameras, computer replacement, etc. That way when "it's time"- the money is there.
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Old 12-28-2013, 01:17 PM   #93
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Does anyone include reserve funds in their annual expenses for eventual replacement of big ticket items? For example, if you drive a car approximately 10 years before replacing it, and your car typically costs around $30K, do you include $3K in reserves each year? Or do you just have an extraordinarily high year of expenses in the year you buy the car?

I would think without these types of reserves we might underestimate our true long term expenses?
The only big ticket item I account for in my plan is a car every 7 years up to age 80. I allocated $25K in todays dollars since I always by use cars with low miles. I will only replace a car when it become more expensive to fix it then what it is worth. I thought about doing big house repairs (roof, air/heat units, appliances) but decided I would just absorbed those costs by cutting back on my discretionary bucket for that year. My Medical expenses do become a yearly "big ticket" item after age 70. I'm using a 7.5% inflation rate for medical costs so it gets to be a huge part of my expenses when I get older.
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Old 12-28-2013, 01:22 PM   #94
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We just save as much as we can every month and then use savings for those kinds of things.
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Old 12-28-2013, 01:28 PM   #95
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I don't get this.. Doesn't anyone on this site give to Charity or gift to family at all??
As far a gifts go we (friends & family) have agreed to not give gifts to each other. We all feel spending time together if a good gift.... We do the Xmas Angels thru the salvation army every year...
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Old 12-28-2013, 01:40 PM   #96
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Now this is what I think is a sensible post. So far in retirement, I just don't see how people can withdraw and spend an exact percentage. Life just doesn't seem to work that way! It mystifies me when people say they withdraw and spend 3.5%, or 4%, for example. What works better for me is to just bracket what percentages are acceptable for me... "the comfort zone", as you put it.
It could be that some people are withdrawing the same amount each year (adjusted for inflation, or not, as the case may be) and keeping an "unofficial" float in checking or savings which they don't consider part of their overall net worth. It could also be that in years for which there isn't a single big ticket item, there are several medium ticket items, which have the effect of smoothing the overall spending from year to year. I think that many of us actively attempt to keep our spending relatively even by employing thinking along the lines of, "We had an expensive A/C repair this year, so we'll vacation locally instead of going further afield," or, "There were no major expenses this year, so we'll treat ourselves to that new tablet we've been coveting, and that fancy digital camera." Admittedly, you'd have to employ an awful lot of this type of thinking to smooth out the effects of a car purchase and I'm not suggesting that's the case, but with the exception of the very large ticket items, they could serve as partial explanations.
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Old 12-28-2013, 01:40 PM   #97
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Beano is the trade name of a supplement containing Alpha galactosidase, an enzyme that breaks down complex carbohydrates including one whose name I forget that no human can digest, yet is present in beans and vegetables such as cauliflower and broccoli.
Right. I was passing along a message from DW who says Beano has lots of fillers that might irritate the sensitive individual.
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Old 12-28-2013, 01:41 PM   #98
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I don't get this.. Doesn't anyone on this site give to Charity or gift to family at all??
Sure, but to announce that we give 5-figure amounts to charity would be bragging, wouldn't it? No, perhaps not. It would have to be 6-figure amounts annually.
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Old 12-28-2013, 01:48 PM   #99
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Right. I was passing along a message from DW who says Beano has lots of fillers that might irritate the sensitive individual.
I just found out that it has gluten. However, I am not a celiac, so it works so far.

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Sure, but to announce that we give 5-figure amounts to charity would be bragging, wouldn't it?
You too?
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Old 12-28-2013, 01:57 PM   #100
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It could be that some people are withdrawing the same amount each year (adjusted for inflation, or not, as the case may be) and keeping an "unofficial" float in checking or savings which they don't consider part of their overall net worth...
In my case, there's really no withdraw per se. Every account is on my Quicken screen, except for the HSA account, so that I see my total investable asset at all times. I transfer money from taxable brokerage accounts to my checking account as needed. Every so often, I would call up the Quicken expense window to see what my expenses were for the past 12 months. The idea is to catch lifestyle creep before it gets out of hand.

I still have no budget, just the 3.5%WR as a guideline. However, if I see that my expenses are low one year because we incur no unexpected expenses, if my wife tells me that she happens to see a good deal on the Web for an international flight (been getting rare), or a cruise, I will say "Let's do it" more readily.

For the last 12 months, I have spent money on main home maintenance plus some car repairs, so am running right at 3.5% while I had expected it to be lower.

PS. The above had been the way we managed our money, when we were still working. As we were frugal and always had money left over at the end of the month except for dry spells in my consulting work, we never had to budget for anything.
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