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Old 09-03-2013, 09:41 PM   #41
Confused about dryer sheets
 
Join Date: Sep 2013
Location: CANADA
Posts: 7
correct, it depends on the personal amount of your income anyways. I don't know your numbers, but a slow withdrawl is better sooner than later
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Old 09-03-2013, 09:51 PM   #42
Confused about dryer sheets
 
Join Date: Sep 2013
Location: CANADA
Posts: 7
Quote:
Originally Posted by modhatter View Post
Here is what I was looking at for my son's the other night. He has a disability that would make it difficult to do landscaping and mowing.
You don't calculate for home maintenance, which I have found to be pretty costly over the years (roofs, AC, Furnace, appliances, water heater, sprinklers, etc,) I always needed to hire someone for repairs. Actually the $400 a month I figured in is on the extreme low side, especially when considering car replacement, repairs & tires in with House maintenance.

We do have two extra rooms that he could rent out when I'm gone. I don't know what kind of a landlord he would make though.

But I admire your ability to get it down so low, and be able to save like that.
It is very commendable and smart.

My sons for Southern Nevada

Property taxes 200
Home insurance 65
Car insurance & tags 120
Health Insur 420
Electric 250
Water 100
Sewer/garbage 32
Landscape 150 (includes, lawn, cutting trees, fertilizing)
Food 350
Gas 60
Internet 70
Phone 20
Maintenance & Replace 400 (roof, ac, furnace, appliances normal home repairs & car replacement, repairs, tires.)
Misc other costs 300 (vets, clothing, gifts, lic fees, dentist etc) Medical co-pays 100 (including prescriptions in this)
Entertainment 100 (eating out fast food couple times a mo, buying a new game, Netflix etc)
Income Taxes 500
__________
$3,187. x 12 = $38,244.00

Like I said, I think that House & Car replacement/repair is low, so I am figuring $40,000 a year.

I think you said your house is in the city, so you probably don't have much outside landscape, sprinkler and watering expenses. Also your medical coverage is a real plus for you lucky Canadians.

Keep up the good work
You're right. The cost of maintenance isn't in there. I only buy materials at a 'RE-STORE', which is a store run by habitat for humanity, where most housing supplies are 40-90% off as it is donated product. I bought a book for $40 a few years back made by Home Depot that has pretty much any house repair in there, so anything from plumbing to electrical I will try, and if it fails I get a family member to help, so I only buy material. I do live in the city, I can cut my entire lawn with an electric weedwhacker lol, so that's a bonus. My gas furnace and gas water tank costs include additional warranty, so if anything goes wrong they are covered by the local dealer for all costs (total is $15/month to have both covered) That's interesting for landscaping of $150, different property. I have zero trees (again, a small grassy area in front and behind the house). I shovel my own snow. My work has 100% employer paid benefits, so any prescription drugs and dental care is covered up to $10,000/year. As long as he lives on site, the people renting respect that, they know there will never be a 'when the cats away the mice will play' opportunity, and I have found them to be very clean when they know the owner is in the next room or on the next floor. That health insurance is very high, it is unfortunate.
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Old 09-03-2013, 10:11 PM   #43
Give me a museum and I'll fill it. (Picasso)
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Join Date: Feb 2013
Posts: 5,326
Quote:
Originally Posted by modhatter View Post
Here is what I was looking at for my son's the other night. He has a disability that would make it difficult to do landscaping and mowing.
You don't calculate for home maintenance, which I have found to be pretty costly over the years (roofs, AC, Furnace, appliances, water heater, sprinklers, etc,) I always needed to hire someone for repairs. Actually the $400 a month I figured in is on the extreme low side, especially when considering car replacement, repairs & tires in with House maintenance.

We do have two extra rooms that he could rent out when I'm gone. I don't know what kind of a landlord he would make though.

But I admire your ability to get it down so low, and be able to save like that.
It is very commendable and smart.

My sons for Southern Nevada

Property taxes 200
Home insurance 65
Car insurance & tags 120
Health Insur 420
Electric 250
Water 100
Sewer/garbage 32
Landscape 150 (includes, lawn, cutting trees, fertilizing)
Food 350
Gas 60
Internet 70
Phone 20
Maintenance & Replace 400 (roof, ac, furnace, appliances normal home repairs & car replacement, repairs, tires.)
Misc other costs 300 (vets, clothing, gifts, lic fees, dentist etc) Medical co-pays 100 (including prescriptions in this)
Entertainment 100 (eating out fast food couple times a mo, buying a new game, Netflix etc)
Income Taxes 500
__________
$3,187. x 12 = $38,244.00

Like I said, I think that House & Car replacement/repair is low, so I am figuring $40,000 a year.

I think you said your house is in the city, so you probably don't have much outside landscape, sprinkler and watering expenses. Also your medical coverage is a real plus for you lucky Canadians.

Keep up the good work
If you post these expenses on the simple living, early extreme retirement and Mr Money Moustache forums and ask for ideas on how to lower them, you will get many suggestions on where to cut, if that is your goal.

If your son has a disability would it be easier for him to live in a condo or townhouse and let the HOA do the groundskeeping? We aren't disabled, just lazy, and that is our plan for retirement.
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Old 09-03-2013, 10:23 PM   #44
Give me a museum and I'll fill it. (Picasso)
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Join Date: Feb 2013
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Originally Posted by mikefixac View Post
Here here. Through the internet my life has been turned upside down.

I remember thinking by reading the MSM how many millions I had to save, but at the same time, I did well if I saved 10%.

With the internet and sites such as this, MMM, ERE, and others, I'm learning that what I was taught before was a bunch of BS.
Yes, what we realized is the annual expenses number is more important for us than the savings number. Especially the recurring expenses, because every $100 a month less in expenses means needing ~$50K less in retirement savings.

Shopping at a grocery store in a lower rent area 15 minutes away instead of 2 minutes: $120,000 savings over 40 years.

Getting rid of land line: $24,000 savings over 40 years.

We just kept finding things to cut like that and it added up to a huge reduction in what we needed to save for retirement. Just replacing a lot of disposable products with reuseable items saved quite a bit, and it is better for the environment as well.
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Old 09-04-2013, 07:58 PM   #45
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Posts: 942
Quote:
Originally Posted by daylatedollarshort View Post
Yes, what we realized is the annual expenses number is more important for us than the savings number. Especially the recurring expenses, because every $100 a month less in expenses means needing ~$50K less in retirement savings.

Shopping at a grocery store in a lower rent area 15 minutes away instead of 2 minutes: $120,000 savings over 40 years.

Getting rid of land line: $24,000 savings over 40 years.

We just kept finding things to cut like that and it added up to a huge reduction in what we needed to save for retirement. Just replacing a lot of disposable products with reuseable items saved quite a bit, and it is better for the environment as well.
I agree on the shopping. Where we are now there is a Food4Less store fairly near by. There prices are definitely cheaper, but not a place I would care to buy meat or fish. What I noticed is that their dry food, like salad dressing have an expiration date which is much closer than what it would be in a regular supermarket. But as an example a bottle of Ken's salad dressing that normally sells for $3.49 in a regular grocery store is $1.79 there. But you better use it up in about 4 months, or it's expired.

Also, there produce is a lot cheaper, but sometimes questionable, but more often it's oK. We already cut out cable tv, and regular phone. Got a Ooma for house ($4.95 and a $15 mo. cell phone)

Frugal_1982, that $15 mo. for your furnace insurance is sweet. We have something similar here, but the monthly cost is closer to $45 a month.
Yes, the medical is a real problem here in the states. Especially when one needs medical care. (sounds kinda funny doesn't it) And dental is similar to ransom money. I have a tooth that broke off and is below the gum line now. Have to see oral surgeon for that. He wants $1,450 to extract it. (Been thinking, if I could just find the right set of pliers, maybe I could do it myself. ) The Novocaine would be the tricky part. Which reminds me. There's a hilarious Dentist sketch from the old Carol Burnett show that you should see if you haven't.



<iframe width="420" height="315" src="//www.youtube.com/embed/Q9T8i4FkNVo" frameborder="0" allowfullscreen></iframe>

Dental is not included in our medical. Maybe large corporations have it with their plans. Don't know, as we have always had to buy our own.

Your resourcefulness with your Home Depot book, and Habitat for Humanity purchases is again commendable. My son is on the timid side and not likely to very demanding. He had a room mate once, who really took advantage of him, and would up not paying his rent. Maybe others would be better. He is just afraid to say anything unpleasant to anyone.
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Old 09-04-2013, 09:08 PM   #46
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Feb 2013
Posts: 5,326
Quote:
Originally Posted by modhatter View Post
I agree on the shopping. Where we are now there is a Food4Less store fairly near by. There prices are definitely cheaper, but not a place I would care to buy meat or fish. What I noticed is that their dry food, like salad dressing have an expiration date which is much closer than what it would be in a regular supermarket. But as an example a bottle of Ken's salad dressing that normally sells for $3.49 in a regular grocery store is $1.79 there. But you better use it up in about 4 months, or it's expired.

Also, there produce is a lot cheaper, but sometimes questionable, but more often it's oK. We already cut out cable tv, and regular phone.
I get meat and frozen junk food for the kids at a regular grocery store on loss leader sales, and most of the rest of the shopping at a Food4Less type store. The produce is actually better the warehouse store than the corner store and about a third of the price.

Since DH stopped the megacorp job, one of the ways we made the budget come out the same was spending more time but less money on groceries.
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Old 09-04-2013, 09:31 PM   #47
Confused about dryer sheets
 
Join Date: Sep 2013
Location: CANADA
Posts: 7
Quote:
Originally Posted by modhatter View Post
I agree on the shopping. Where we are now there is a Food4Less store fairly near by. There prices are definitely cheaper, but not a place I would care to buy meat or fish. What I noticed is that their dry food, like salad dressing have an expiration date which is much closer than what it would be in a regular supermarket. But as an example a bottle of Ken's salad dressing that normally sells for $3.49 in a regular grocery store is $1.79 there. But you better use it up in about 4 months, or it's expired.

Also, there produce is a lot cheaper, but sometimes questionable, but more often it's oK. We already cut out cable tv, and regular phone. Got a Ooma for house ($4.95 and a $15 mo. cell phone)

Frugal_1982, that $15 mo. for your furnace insurance is sweet. We have something similar here, but the monthly cost is closer to $45 a month.
Yes, the medical is a real problem here in the states. Especially when one needs medical care. (sounds kinda funny doesn't it) And dental is similar to ransom money. I have a tooth that broke off and is below the gum line now. Have to see oral surgeon for that. He wants $1,450 to extract it. (Been thinking, if I could just find the right set of pliers, maybe I could do it myself. ) The Novocaine would be the tricky part. Which reminds me. There's a hilarious Dentist sketch from the old Carol Burnett show that you should see if you haven't.



<iframe width="420" height="315" src="//www.youtube.com/embed/Q9T8i4FkNVo" frameborder="0" allowfullscreen></iframe>

Dental is not included in our medical. Maybe large corporations have it with their plans. Don't know, as we have always had to buy our own.

Your resourcefulness with your Home Depot book, and Habitat for Humanity purchases is again commendable. My son is on the timid side and not likely to very demanding. He had a room mate once, who really took advantage of him, and would up not paying his rent. Maybe others would be better. He is just afraid to say anything unpleasant to anyone.

leave the pliers out of it lol. The best thing is for house maintenance, its your own home, so it doesn't have to be perfect the first time, you learn as you go. I don't know the American laws but in Ontario, if you share a common area (kitchen or bathroom) with the homeowner, the renter has no legal rights and can be evicted at any time for any reason.
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