Average Spending in Retirement

[Corporateburnout]

Really? Medicare is that much?

This is a comprehensive coverage with no deductible and no out of pocket cost. DW had a surgery back in May that cost over 100K with 0 out of pocket. Based on her health history we will stay with this plan. I may go with the lower medigap plan with deductible when I'm eligible for Medicare next year which may save me $1000/year in premiums assuming I don't have many medical problems.

 

[RobbieB]

I like to buy American as much as possible and I really don't like to travel. I hate airplane rides so when I do go it's first class. I don't sleep well in other beds either, so I go to premium hotels. Oh yeah, if I'm travelling I'm blowing big dough just to ease the pain.

I just ordered up another cool knife today, another Case custom with abalone scales

 

[Blue Collar Guy]

I like to buy American as much as possible and I really don't like to travel. I hate airplane rides so when I do go it's first class. I don't sleep well in other beds either, so I go to premium hotels. Oh yeah, if I'm travelling I'm blowing big dough just to ease the pain.

I just ordered up another cool knife today, another Case custom with abalone scales

You always bring a smile to my face. too funny. BTW, Beautiful handle on that blade.

 

[haha]

Single man, moderately high COL (Seattle) own my own downtown small condo outright. Spend about $25,000 pa before income tax. I try to be price conscious on most things. My food eaten at home including a small amount of low moderate price wine runs about $450-/mo. I'm on Medicare w Medigap policy. No major health expenses. No car, and no travel budget. I likely will be forced to travel some to hang onto my girlfriend

From my pov it is what it is. I think if I should run into trouble financially it is very unlikely to have anything to do with my usual and customary expenses.

Ha

 

[Blue Collar Guy]

I likely will be forced to travel some to hang onto my girlfriend

Ha

, Thats cool. Have fun when you go,

 

[braumeister]

It's all relative. There's really no absolute.

I've been saying this here for years to little avail. People always seem to have strong opinions on how much and on what other people should spend their money.

Which is hard to understand. Even if we all lived in the same area it would make no sense. I've never lived anywhere that didn't have more and less affluent neighborhoods with very different lifestyles.

It gets better when people use percentages, as in "My entertainment budget is 10% of my total spending." but even there you have such a wide variety of appetites that it's nearly impossible to compare even on percentage basis.

 

[Walt34]

Oh gosh... this is so sad! I feel so fortunate to be able to afford keeping my teeth. I am 69 and have all of them, though some are implants. My perception is that Louisiana is kind of a poor state, so I would imagine that our percentage of toothless seniors is probably closer to that of West Virginia, than to that of California.

At least according to one source you're right. When we went on the Coal Country Tour several years ago, other than the education we received about the history of coal mining and unions, we also learned about the poverty levels in middle and southern WV. It was pretty sad, but not unrecognizable to me because while I grew up better off, it was not a whole lot better off.

 

[Independent]

Life insurance and property insurance - $521
House, Car, Umbrella insurance - $134

I'd guess that most of the retired people who post here aren't paying for life insurance. So that's one way they get costs down.

Also, I notice that you have "property insurance" on one line and "House insurance" on another.

 

[Blue Collar Guy]

I'd guess that most of the retired people who post here aren't paying for life insurance. So that's one way they get costs down.

Also, I notice that you have "property insurance" on one line and "House insurance" on another.

I pay for life insurance. Im an insurance lover. I buy appliance insurance. I have umbrella insurance. I took out sewer line insurance. I pay 6 bucks a month gas line insurance. I would have taken water line insurance but I have a 15 year guarantee when I built the house. I had heat and hot water insurance, first year I dropped it, it cost me 500 for a thermo coupling and an expansion tank. I took a job with life time health insurance. I sleep better. I have computer insurance. Im sure i have more.

 

[travelover]

I don't bother to insure my umbrellas. I just buy them at Dollar Tree and pitch them when they go inside out.

 

[Fermion]

I don't bother to insure my umbrellas. I just buy them at Dollar Tree and pitch them when they go inside out.

Wasn't there some thread a few days ago about limiting posts per day per user to increase quality?

 

[Blue Collar Guy]

I don't bother to insure my umbrellas. I just buy them at Dollar Tree and pitch them when they go inside out.

Lol, I was going to clarify that one, but I said no way. I forgot about you!

Wasn't there some thread a few days ago about limiting posts per day per user to increase quality?

Lol, I bet travelover laughed at this one too

 

[GrayHare]

Since the bigger spenders seem less likely to post on this topic, a poll (anonymous) might yield a more representative picture of spending.

 

[travelover]

Lol, I was going to clarify that one, but I said no way. I forgot about you!

Lol, I bet travelover laughed at this one too

You were one that said he insured EVERYTHING.

 

[Blue Collar Guy]

You were one that said he insured EVERYTHING.

Touché !

 

[Danmar]

My problem is that I love to "count" my money, and to see it grow. Looking at that increasing number at the bottom left of my Quicken screen brings a warm and fuzzy feeling to this heart. Any enjoyment obtained from luxuries will be countered by the unpleasantness of seeing that number shrinks.

It's not the fear of running out. It's the sadness of seeing it diminishing.

I can identify with this. But surely over the past several years with the market doing so well your portfolio would still increase even with more spending? Mine has? I do loosen the purse strings somewhat when we get a nice market bump, like last year.

 

[RunningBum]

Since the bigger spenders seem less likely to post on this topic, a poll (anonymous) might yield a more representative picture of spending.

But the OP demands honest accounting and proof! Can't do this with an anonymous poll!

Sorry Rianne, but I thought that was a very rude way to barge onto this message board. Tone it down a notch or two and you'll probably get less pushback.

 

[Koogie]

You are obviously a noble and benignant woman.

Had to look that one up. I thought you were calling her a little French doughnut !!!

 

[Nemo2]

......calling her a little French doughnut !!!

A croque madame sans oeuf?

 

[tmm99]

My problem is that I love to "count" my money, and to see it grow. Looking at that increasing number at the bottom left of my Quicken screen brings a warm and fuzzy feeling to this heart. Any enjoyment obtained from luxuries will be countered by the unpleasantness of seeing that number shrinks.



It's not the fear of running out. It's the sadness of seeing it diminishing.

I can identify with this. But surely over the past several years with the market doing so well your portfolio would still increase even with more spending? Mine has? I do loosen the purse strings somewhat when we get a nice market bump, like last year.

I agree with you both. It has been pretty nice that my NW has grown since I retired over 2 years ago, despite taking withdrawals. I know this won't continue forever. I don't know yet what it feels like to see my NW diminish year after year, but I bet it won't make me feel very good, even if I may have plenty left and safe.

 

[braumeister]

A croque madame sans oeuf?

Or at least no more than one.
Any Frenchman will tell you that one egg is un oeuf.

 

[Moemg]

Had to look that one up. I thought you were calling her a little French doughnut !!!

I am more like an Irish soda bread !

 

[Rianne]

Sorry Rianne, but I thought that was a very rude way to barge onto this message board. Tone it down a notch or two and you'll probably get less pushback.

I'm on board. Need a nudge to accept that we are Freak'in lucky to live in a place where we can complain about this stuff. After reading everywhere on FIRE, WTF, I realized "Jeez I'm glad I wasn't born in the Ukraine."

 

[Blue Collar Guy]

Or at least no more than one.
Any Frenchman will tell you that one egg is un oeuf.

We made 10 jumbo eggs with peppers about a week ago, Im sure would have been disturbed by this sight!

 

[Blue Collar Guy]

I'm on board. Need a nudge to accept that we are Freak'in lucky to live in a place where we can complain about this stuff. After reading everywhere on FIRE, WTF, I realized "Jeez I'm glad I wasn't born in the Ukraine."[/QUOTE]

Im with you on that one. I used to tell everyone I would have been a sheep farmer in my old country. I know Im blessed to be here. My grandparents didnt speak a lick of English, but they sure were smart to move here.