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Old 07-25-2016, 01:51 PM   #21
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Wow, that is super-cheap living.
I would rather live on $12K/yr and not have to work than live on any other amount of money if it means I have to work full time. That $12K does not take into account expenses like dental work which is why I plan to live on $12-13K even though my income is $16K. I will be able to build a buffer for dental work. I can't think of any other unexpected expenses that I would have to worry about. I can get by without a car if needed, I rent so no roof or furnace type expenses, and have a max OOP of $500/yr for health insurance.
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Old 07-25-2016, 01:53 PM   #22
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Our living expenses are about 75% of my income, guess thats why I could retire.
I'm also retired. Our income is taxable account dividends, and our living expenses are funded by those taxable account dividends supplemented by proceeds from the sale of stocks in our taxable accounts (a portion of which is capital gain and increases income) and does not count income or stock appreciation in our tax-deferred or tax-free accounts as I was thinking of solely tax-return income before Roth conversions.
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Old 07-25-2016, 02:11 PM   #23
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I'm also retired. Our income is taxable account dividends, and our living expenses are funded by those taxable account dividends supplemented by proceeds from the sale of stocks in our taxable accounts (a portion of which is capital gain and increases income) and does not count income or stock appreciation in our tax-deferred or tax-free accounts as I was thinking of solely tax-return income before Roth conversions.
Unfortunately all of my income is tax return income but if I have it figured out correctly there will be no additional tax due in April. I am certainly in a less complicated income stream. One check hits the bank on the 20th of each month and another on the last day of the month, like clockwork. Life is good. I like simple life.
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Old 07-25-2016, 02:40 PM   #24
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aaron is our Zen master of frugality, I think.

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Wow, that is super-cheap living.
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Old 07-25-2016, 02:49 PM   #25
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aaron is our Zen master of frugality, I think.
That $12K/yr includes some "luxuries". I'm renting a 2bd 900-something sqft apartment with a garage for $560/mo. I could've chosen a 1bd <800sqft apartment with no garage for $425/mo. After some serious consideration, I decided not to go without a car. If I went without a car, it would save me between $50-100/mo. I may be frugal for this group but I could cut back a bit. Now if I went without a car and rented out my 2nd bedroom, that would be frugal.
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Old 07-26-2016, 05:45 AM   #26
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You are in this class if you are 21 to 49 years of age with at least $100,000 of annual household income and $50,000 to $250,000 in investable assets."
Well, that's twice not me. I make less and I have more. Do they a submerging affluent type?

Also, measuring households can give a distorted picture. A household of one vs. two adults with four children, very different.

The silly 'millionaire' picture in the article made me laugh too.
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Apparently I'm an emerging affluent
Old 07-27-2016, 03:25 AM   #27
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Apparently I'm an emerging affluent

This is a fluff article - after having read it what have you learned?

Let me share the very secret formula to increasing the odds of becoming a millionaire
1. LBYM
2. Invest in equities
3. Don't marry a spender
4. Hang on to windfalls - tax returns, bonuses, overtime, inheritances
5. It may require never buy a new car and if you do think 3 year old Corolla.
6. Don't become a teacher - do become a software engineer.
7. Clip coupons and brown bag your life...
8. Forget golf, boats, 4 wheelers, trips to exotic locales and other toys...
9. No divorce
10. If you have land grow food in a practical manner... No $20 tomatoes...

Follow the aforementioned rules for 25 years...

Sent from my iPad using Early Retirement forum
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