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Old 11-12-2007, 06:31 PM   #21
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Okay ,I'm game
Property taxes 5,000
Homeowner;s insurance with high deductible ($27,000) 2,000
Flood insurance 1,500
phones 1,200
electricity 3,600
water & sewer 600
car insurance 950
hair cuts 1,080
food 5,000
internet & cable tv 1368
medical 2400
lawn 600
dinner out once a week 2,400
26,498 and that's just the basics .I have four soon to be five granchildren(his & mine ) ,five adult children (his & mine ) ,four spouses ,a mother and two sisters .Lots of birthdays and christmas presents .
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Old 11-12-2007, 07:26 PM   #22
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I can't help but think that some of these high prices are the result of investing in McMansions, and therefore should be considered to be investment costs rather than cost of living.

Don't know, since I have never had one, but maybe?
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Old 11-12-2007, 07:34 PM   #23
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Originally Posted by Want2retire View Post
I can't help but think that some of these high prices are the result of investing in McMansions, and therefore should be considered to be investment costs rather than cost of living.

Don't know, since I have never had one, but maybe?
Utility costs vary a lot by region/provider, but the recurring bills do seem high. Azanon, a former poster, insisted that a single person (with a paid off house) couldn't live on $40,000. If one is paying $4000 just for electricity, I can begin to understand why not.

Electricity, water, etc.: $1200
Landline, cell, net: $550
Gas: $300
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Old 11-12-2007, 07:57 PM   #24
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Costs really vary by region. In Western NY, in an "inexpensive" to buy town, an "expensive" home- 1936 vintage 2700 sf ( say value of $285K) yields:

Property Tax $6900
Gas & Elec $6500
Ins 1200

Add to that

Health Ins $11,000
Auto ins 2,000 (2 cars)

You get the picture: approx $30,000 yr for nice home a health insurance, plus all the additional expenses.

Anyway I just went partial ER by becoming a 50% partner at my law firm. I will see if my move shows that I can work less and earn less or that I am a fool who works the same for half the money. We shall see!
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Old 11-12-2007, 08:00 PM   #25
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Quote:
Originally Posted by Want2retire View Post
I can't help but think that some of these high prices are the result of investing in McMansions, and therefore should be considered to be investment costs rather than cost of living.

Don't know, since I have never had one, but maybe?
Mc Mansions have taxes in the double digits ! You have probably never lived in a higher price area or you've forgotten .When I lived in New Jersey in a plain tract home ,small lot ,our taxes were $4,500 on a house worth $170,000.
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Old 11-12-2007, 08:42 PM   #26
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Here goes from the Pacific Northwest (Portland,OR). Its not so expensive here, as long as you have a paid-off house and go hiking and camping for entertainment:
Oil $712
Electric $695
Cable TV $727
Water-sewer $551
phone-DSL $878
garbage $248
property taxes $2949
house and car insurance $1570
LTC and supplemental health ins. $2707
food $6480
Total $17,517
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Old 11-12-2007, 08:56 PM   #27
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My sister/BIL(semi frugal) say it's still expensive - south of Seattle around Kent. Especially compared to Paducah Ky(previous location). heh heh heh
that is so, pardon the expression, on the money. i notice a huge difference just between fort lauderdale and tampa. went to check out a gorgeous pilothouse sailboat in st. pete the other week. one night in tampa i stopped in for some chinese. four bucks for a small vegie lo mein that i'd easily pay eight and change for here.

part of my e.r. plan includes relocating from this expensive area. i've been here since the 1970s so it's really time to leave. fortunately i never planned to retire from florida to new york city. though equally fortunate, i'm retiring from florida and not from kentucky.

as to the original fractional question, i thought i was wholly fired but that was before i understood finance much so what with a few hurricanes, a bubble burst and an untimely death i find myself not quite half fired because once i sell here, which i planned anyway, i will be fully fired again.

i guess that makes me, at present, 3/4th fired. i'm completely fine with that being still in the top 10% median net worth catagory. and anyone who can't live well their life on that has got issues even money won't solve.
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Old 11-12-2007, 11:27 PM   #28
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Quote:
Originally Posted by rocketdog View Post
Here goes from the Pacific Northwest (Portland,OR). Its not so expensive here, as long as you have a paid-off house and go hiking and camping for entertainment:
Oil $712
Electric $695
Cable TV $727
Water-sewer $551
phone-DSL $878
garbage $248
property taxes $2949
house and car insurance $1570
LTC and supplemental health ins. $2707
food $6480
Total $17,517
That's nice. How about other expenses?
gas for cars
car repairs
clothing
vacation/travel
eating out
dental care
personal care
house maintenance
recreation
entertainment
credit card payment
education
Recreation, entertainment
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Old 11-13-2007, 03:45 AM   #29
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Quote:
Originally Posted by ZMAN View Post
Costs really vary by region. In Western NY, in an "inexpensive" to buy town, an "expensive" home- 1936 vintage 2700 sf ( say value of $285K) yields:

Property Tax $6900
Gas & Elec $6500
Ins 1200

Add to that

Health Ins $11,000
Auto ins 2,000 (2 cars)

You get the picture: approx $30,000 yr for nice home a health insurance, plus all the additional expenses.

Anyway I just went partial ER by becoming a 50% partner at my law firm. I will see if my move shows that I can work less and earn less or that I am a fool who works the same for half the money. We shall see!
Zman, it's the house. Or move to Northeastern NY. Serious.

1920's house, (1400 sq. feet) city, 3 bedrooms, two car garage. $2850 property taxes, $300 home owner's insurance, $630 auto insurance, $1450 gas and electric, $480 telephone, $2100 health insurance.
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Old 11-13-2007, 06:55 AM   #30
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Originally Posted by Want2retire View Post
I can't help but think that some of these high prices are the result of investing in McMansions, and therefore should be considered to be investment costs rather than cost of living.

Don't know, since I have never had one, but maybe?
W2R,

It sure ain't a McMansion, at least compared to other homes in this part of the state. But it IS more home than we need, and the additional acres add to the value too. I caused this upgrade just at the time when it should have gone the smaller direction. DW never had the home she wanted, I was way too tight and deaf to her need I guess. Anyway, even though it's larger than some homes, they'll have to carry me out feet first. Therefore you can't call it an investment. Maybe my DD can look at it that way when we're gone.
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Old 11-13-2007, 08:42 AM   #31
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Well now - 1979 fish camp 1100 sq ft 21k built 1973(1bath three bedrooms). Post Katrina north side Kansas City 1100 sq ft plus full unfurnished basement 85k in sept 2005 - in subdivision built 1970(1 bath, three bedroom).

Also I cracked and bought a 2006 Chevy Equinox(SUV) nov 2005.

Not as rigid on the dividing line between frugal and a little bit of fun anymore.

heh heh heh - still haven't bought that fancy kayak from Dick's Sporting Goods in Kansas City yet.

heh heh heh
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Old 11-13-2007, 01:04 PM   #32
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Their are several good books on this subject - the best is Bob Clyatt's 'Work Less, Live More" he does an very through analysis on the topic, specifally around the statistical success rates of withdraw rates.

Below is an article I attached discussing the topic as well. As for the Tax component - each persons situation is different and needs to be considered, mine is very low.

http://finance.yahoo.com/retirement/...Cash-Out-Early

As far as the duration of the portfolio - 40/50 years is reasonable but I break that down into 3 Phases: 1) pre 401k/IRA(14yrs), 2) pre Social Security(7yrs) and 3) Social Security.
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Old 11-13-2007, 06:01 PM   #33
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Tbd...
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