Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
2015 Expenses
Old 01-02-2016, 08:25 AM   #41
gone traveling
 
Join Date: Oct 2007
Posts: 1,135
2015 Expenses

Quote:
Originally Posted by kcowan View Post
It is highly a function of where you live "norcal". ...

Family size is a major factor too. Perhaps more so than location.
Consumables such as healthcare premiums and OOP, Groceries and utilities usage, number of vehicles and insurance to maintain. Those modulate significantly depending on family size - kids at home etc.
__________________

__________________
papadad111 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

2015 Expenses
Old 01-02-2016, 08:26 AM   #42
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 7,376
2015 Expenses

Quote:
Originally Posted by slowsaver View Post
I can't believe how many of you have spending below $30k. Really impressive. My DH and I have been spending $60k (combined) each of the last 3 years.

I think a big driver for that occurring would seem to be if mortgage is paid off and healthcare costs are under control. I live in a low cost area and live a modest lifestyle and cannot get to that 30k level myself. Now, if my mortgage was paid off, I could come in right near that number, though.


Sent from my iPad using Tapatalk
__________________

__________________
Mulligan is offline   Reply With Quote
Old 01-02-2016, 08:32 AM   #43
Moderator
rodi's Avatar
 
Join Date: Apr 2012
Location: San Diego
Posts: 8,809
Quote:
Originally Posted by papadad111 View Post
Family size is a major factor too. Perhaps more so than location.
Consumables such as healthcare premiums and OOP, Groceries and utilities usage, number of vehicles and insurance to maintain. Those modulate significantly depending on family size - kids at home etc.
I agree with this. I'm proud of our less than $80k spend considering we have 2 kids at home. Especially when you look at over $13k of that was health insurance premiums and another $8k+ in medical OOP. It helps that our mortgage is paid for.
__________________
Retired June 2014. No longer an enginerd - now I'm just a nerd.
micro pensions 7%, rental income 18%
rodi is online now   Reply With Quote
Old 01-02-2016, 09:32 AM   #44
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 16,465
i set a generous spending budget about 10 years ago, and haven't increased it in all that time - no inflation adjustments, nothing. Well - I said it was generous. Also a pretty good chunk of it (20%) is charity and gifting and we have been maxing that portion out recently.

We'll see if we finally match it this year.
__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is online now   Reply With Quote
Old 01-02-2016, 09:34 AM   #45
Thinks s/he gets paid by the post
 
Join Date: Jan 2006
Posts: 2,971
Quote:
Originally Posted by slowsaver View Post
I can't believe how many of you have spending below $30k. Really impressive. My DH and I have been spending $60k (combined) each of the last 3 years.
My income is well below $30K. That makes it easy to spend less than that $30K. I've only had 9 years where my income topped $30K and it likely never will again.
__________________
aaronc879 is online now   Reply With Quote
Old 01-02-2016, 10:02 AM   #46
Thinks s/he gets paid by the post
 
Join Date: May 2008
Posts: 2,259
If it weren't for the moving cost, I spent $36.3K. 30K or below is something to aspire to, but I don't want to cut my travel budget and such. 30K below can however happen in years where there are no special expenses..
__________________
tmm99 is online now   Reply With Quote
Old 01-02-2016, 10:44 AM   #47
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
RunningBum's Avatar
 
Join Date: Jun 2007
Posts: 5,175
4th year in a row of a major non-regular expense, but I did include a reasonable amount in my budget for capital and maintenance expenses when I set it up to see if I could ER. I no longer keep the budget items up to date but track outflow to my WR target, and I came about 10% under.
__________________
RunningBum is offline   Reply With Quote
Old 01-02-2016, 10:47 AM   #48
Recycles dryer sheets
 
Join Date: Apr 2011
Location: Castro Valley
Posts: 400
Essential expenses and monthly spending (recreation, entertainment, travel. etc..) came in pretty much on target. Only exception is auto maintenance/repairs which came in higher than budgeted.

The plan is to average $12,000 per year on irregular spending (cars, roof, furniture, appliances, new toys, weddings, etc...) so it's not always easy to determine if I'm on budget looking at just one year. Given that, I spent $12,500 in discretionary irregular spending last year.
__________________
jkern is offline   Reply With Quote
Old 01-02-2016, 11:15 AM   #49
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,860
Quote:
Originally Posted by slowsaver View Post
I can't believe how many of you have spending below $30k. Really impressive. My DH and I have been spending $60k (combined) each of the last 3 years.
But you are a couple, and also probably in a stage in your life in which spending $60K makes more sense.

When I was saving for retirement, like some others here I spent less than $30K every year and put most of my income towards retirement objectives that included both building my nestegg ASAP and paying off my house. To me it made sense to do that, mathematically. Besides, I was working and didn't have much spare time to devote to spending money. Also I was pessimistic about the economy and wanted to over-prepare for retirement as much as I could.

After retiring in 2009, I no longer have had to save for retirement and the booming market has been wonderful; not at all the pessimistic scenarios I had envisioned. I have been spending more than $30K every year and I am still ramping up my spending since apparently I can afford to do so.

I could still cut back to below $30K if necessary by simply cutting back on discretionary expenses, but I neither want to do that nor have to at present. But I always try to be prepared! We never know what future market conditions could be.

Meanwhile, at present "all systems are go" for cautiously spending more in the future. I am doing a lot of introspection and thought about what I could spend more on that would genuinely add quality to my life. I bought a house this year that is a dream come true for me. It isn't the kind of house that everybody would want. In fact some of our members would probably say "Ewww" if they saw it, because it's small and old (1500 sq ft and built around 1960), but it's just perfect for me and exactly what I have always wanted. I am so glad that I did this.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is offline   Reply With Quote
Old 01-02-2016, 12:02 PM   #50
Thinks s/he gets paid by the post
 
Join Date: Feb 2007
Posts: 2,423
Quote:
Originally Posted by slowsaver View Post
I can't believe how many of you have spending below $30k. Really impressive. My DH and I have been spending $60k (combined) each of the last 3 years.
A big factor in this is probably housing costs and property taxes. We have no mortgage and our property taxes run just $200/mo. A relative of ours, also retired, has property taxes of $750/mo. To some at ER.org $750/mo probably sounds cheap, but in our area (NE Ohio) that's a large amount.

Living at $30K feels quite comfortable. We have a large grocery budget every month, still get satellite TV (which is our luxury item) eat out a couple of times a month and have a generous monthly amount for miscellaneous. Personally, I feel like we spend plenty.

I've always had a need to be a saver. Anything extra goes into savings. I need to be saving every month because I've learned, stuff breaks and sh!t happens.
__________________
Married, both 62. DH retired June, 2010. I have a pleasant little part time job.
Sue J is offline   Reply With Quote
Old 01-02-2016, 12:46 PM   #51
Thinks s/he gets paid by the post
 
Join Date: May 2008
Posts: 2,259
Quote:
Originally Posted by W2R View Post

It isn't the kind of house that everybody would want. In fact some of our members would probably say "Ewww" if they saw it, because it's small and old (1500 sq ft and built around 1960), but it's just perfect for me and exactly what I have always wanted. I am so glad that I did this.
That sounds like a perfect house to me too, except I would probably get something a little smaller
__________________
tmm99 is online now   Reply With Quote
Old 01-02-2016, 12:47 PM   #52
Thinks s/he gets paid by the post
 
Join Date: May 2008
Posts: 2,259
Quote:
Originally Posted by aaronc879 View Post
I spent $16,730 in 2015. $11,453 if I don't include FICA, Fed and State Income taxes. FICA really hurts as a low income self-employed person. I expect to spend less in 2016 since I won't be going down to Florida this winter and my taxes will be lower as well.
Your numbers are truly remarkable.
__________________
tmm99 is online now   Reply With Quote
Old 01-02-2016, 12:59 PM   #53
Thinks s/he gets paid by the post
 
Join Date: May 2008
Posts: 2,259
Quote:
Originally Posted by Sue J View Post

I've always had a need to be a saver. Anything extra goes into savings. I need to be saving every month because I've learned, stuff breaks and sh!t happens.
I am finally in the draw-down phase and although I have a budget, it is kind of funny that I still try to save the money I have already allocated to spend. It's like I have a budget but I also have a target saving plan within it. I shouldn't have to do that but I want to try to be a saver still. I also have a secret stash (eg. rebate checks, CC reward redemption, returned item refunds, etc). I guess I cannot call it a secret since I know about it, but it's like a separate wallet ane I can spend this on frivolous things without logging the purchases. Crazy.
__________________
tmm99 is online now   Reply With Quote
Old 01-02-2016, 01:20 PM   #54
Thinks s/he gets paid by the post
 
Join Date: Jan 2006
Posts: 2,971
Quote:
Originally Posted by tmm99 View Post
Your numbers are truly remarkable.
Thank you but spending only $11,453(not counting FICA, Fed or State income tax) leaves me plenty of room to cut. I spent several weeks in Florida in Feb and Mar. I bought a new refrigerator. Removing those two expenses alone would put me under $10K. I cancelled my cell phone service in Nov and switched to a Tracfone so instead of paying almost $500/yr, i'll spend $100/yr or just over for a smartphone with all the talk and data I need. I eat more than enough food, have a car with under 100,000 miles on it, a comfortable paid off home. I could cut my expenses in several area if needed. I find it equally remarkable how so many people spend several times what I do and still consider themselves to be frugal. I guess since I never earned much money I am forced to live on very little if I want to save for retirement. SS will give me less than $1000/mo and I may want to spend a little more when i'm older. I will probably need to pay people to do things for me that I do for myself now and that'll cost money.
__________________
aaronc879 is online now   Reply With Quote
Old 01-02-2016, 01:27 PM   #55
Thinks s/he gets paid by the post
 
Join Date: May 2008
Posts: 2,259
Quote:
Originally Posted by aaronc879 View Post
Thank you but spending only $11,453(not counting FICA, Fed or State income tax) leaves me plenty of room to cut. I spent several weeks in Florida in Feb and Mar. I bought a new refrigerator. Removing those two expenses alone would put me under $10K.
WOW

Do you care to share the expense by category?

And what did you eat yesterday (or what is your diet like)?
__________________
tmm99 is online now   Reply With Quote
Old 01-02-2016, 01:33 PM   #56
Thinks s/he gets paid by the post
 
Join Date: Feb 2014
Posts: 1,050
I am on track for $14,000 annual base expenses. Not including things like special trips or large unexpected outlays.
__________________
jim584672 is offline   Reply With Quote
Old 01-02-2016, 01:37 PM   #57
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 19,403
Quote:
Originally Posted by Shawn View Post
My expenses were consistent with expectations. Single, living alone, San Francisco Bay Area, 56, not yet retired ...

$11,380 Mortgage
$08,500 College Costs (for friend's niece in Philippines)
$07,329 Veterinary Bills (for another friend's cat)
$04,659 Charity
$03,305 Property Taxes
$02,220 Utilities (Gas/Elec, Water, Phone, Trash, TV, Internet)
$01,435 Water Heater and Related Work
$00,930 Medical Issue
$00,495 Auto Insurance
$00,434 Homeowners Insurance
$00,263 Bicycle Repair and Supplies
$00,228 Auto Maintenance
$00,226 Auto Gas
$05,660 Misc (food, clothes, entertainment, recreation, doctor/dentist, subscriptions, ...)


Total: $31,234.52 (plus $7329 veterinary bills and $8500 college costs for friends)
That's $20,488 for gifts and charity out of $47,064, or 44%. For me, it's only 16%, and I thought that I was generous.
__________________
"Old age is the most unexpected of all things that can happen to a man" -- Leon Trotsky
NW-Bound is online now   Reply With Quote
Old 01-02-2016, 01:43 PM   #58
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,099
Quote:
Originally Posted by NW-Bound View Post
That's $20,488 for gifts and charity out of $47,064, or 44%. For me, it's only 16%, and I thought that I was generous.
Pfffttt, that's nothing. For years we've donated almost all of our after-tax funds to an unemployed couple in their 60's.
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 01-02-2016, 01:43 PM   #59
Recycles dryer sheets
 
Join Date: Aug 2013
Posts: 270
Just finished calculating this today. Spend $41,217 which was $2,953 under plan budget for 2015. Have been under plan budget each year since I retired in 2013. Hard to spend surplus money when you are use to LBYM... Hope 2016 is the same...
__________________
bradaz2488 is offline   Reply With Quote
Old 01-02-2016, 01:48 PM   #60
Thinks s/he gets paid by the post
 
Join Date: Jan 2006
Posts: 2,971
Quote:
Originally Posted by tmm99 View Post
WOW

Do you care to share the expense by category?

And what did you eat yesterday (or what is your diet like)?
Last year I spent $11,543 or approx. $955/mo. It was broken down like this.

-Electric:75/mo
-Condo fee
Tax/insurance/maint.:295(includes $500 for a once a decade refrigerator)
-Internet/cell:105(will go down to ~$80 with cheaper cell phone service)
-Car-gas/maint./ins.:155/mo(will go down with cheaper gas and no trip to Florida although with 90,000 miles, maint. will start to go up)
-Food:175/mo
-Health:100/mo(includes subsidized premium and $500 max OOP)
-misc.:50/mo

Yesterday I ate oatmeal for breakfast. I had several pieces of microwaved summer sausage for lunch. I had a few handfuls of dry roasted peanuts throughout the afternoon as snacks. I ate a frozen pizza for dinner. I only drink water. Total cost of all food and drink is around $6/day. I don't eat the healthiest of diets but it works for me. I'm not overweight(6'6" & 181 lbs) and my blood work(which I have done many times a year for work) is all good.
__________________

__________________
aaronc879 is online now   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
52 and looking at ER in 2015- super dreamer? supernova72 Hi, I am... 42 01-14-2013 10:48 PM
FED policy maker says low rates to 2015 rbmrtn Stock Picking and Market Strategy 27 09-05-2012 09:01 PM
class of 2015? palomalou Life after FIRE 3 08-24-2011 04:47 PM
Fidelity Freedom Fund 2015 BillNOVA FIRE and Money 0 08-20-2008 05:39 PM
extra expenses? lowered expenses? 72t? retiringat50 FIRE and Money 6 01-08-2008 09:30 PM

 

 
All times are GMT -6. The time now is 09:43 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.