I can't figure out how I'll spend $40,000/year in retirement

[btdt22]

Quote:

Originally Posted by islander "I can't figure out how I'll spend $40,000/year in retirement..." Get a boat

Well said! Add some exotic travel and you are easily into six digits

[Major Tom]

Quote:

Originally Posted by NW-Bound Yes, we discovered Grocery Outlets when on our RV trek last year, and loved it.

There is a Grocery Outlet 3 blocks from my house. It's pretty handy for a frugal ER!

[NW-Bound]

Quote:

Originally Posted by Mulligan So the Najarian brothers Options trading book wouldnt have been one of the 3 books by chance then?

I recognize the name, but did not know about their book.

You must have meant this book:



Just searched, and found that the library does not have it.

Amazon says "Used from $3.65", and reviewers give 2 stars out of 5. Comments say the book explains the mechanics of options, but not the secret sauce.

Quote:

Originally Posted by Major Tom There is a Grocery Outlet 3 blocks from my house. It's pretty handy for a frugal ER!

They are good for anyone who is frugal, whether ER or not.

[Fedup]

I have no problem spending $40k. That's how much I plan on spending for travel this year. It's not an extravagant budget. My husband likes live concerts and has been on a buying spree for a few concerts overseas. Good think the dollar is strong otherwise it will cost more.

[Dreaming of Freedom]

I am starting to think that we need to budget $40,000/year just for healthcare related costs. Between the threat of ACA being revoked by politicians or just imploding on its own, i fear we could be stuck with substandard or no health insurance at all and have enormous out of pocket expenses. We are both pretty healthy at this point in life, but as we get older, I am sure things will start breaking.

[daylatedollarshort]

Quote:

Originally Posted by NW-Bound They are good for anyone who is frugal, whether ER or not.

The G.O. receipts, at least in our area, have amount saved off Safeway type prices, and they seem to be pretty accurate. For this month I spent around $220 and saved $260. Shopping there has really saved us quite a bit. Lately the local store has had a large inventory of organic produce, eggs, meat and other types of natural and organic foods, so we feel we can eat pretty health and save money, too.

I'm not down to $40K a year in expenses, but we keep chipping away.

[NW-Bound]

My wife likes to shop for bargains, and when I join in the hunt I understand the thrill of it. We eat less and less, so the substantial savings still do not add up to a large dollar amount. But it is fun, and often entices us to try something different. "What's this? How do we use it?".

For a family with ravenous teenagers still at home, knowing about these discount stores will really help. You save money, and may even get higher quality. What's not to like?

[Mulligan]

Quote:

Originally Posted by NW-Bound I recognize the name, but did not know about their book. You must have meant this book: Just searched, and found that the library does not have it. Amazon says "Used from $3.65", and reviewers give 2 stars out of 5. Comments say the book explains the mechanics of options, but not the secret sauce. They are good for anyone who is frugal, whether ER or not.

Yep, thats the one...They occasionally try to give it away for free on commercials. A 2 Star huh? I will cross it off my reading list.

[W2R]

Quote:

Originally Posted by NW-Bound My wife likes to shop for bargains, and when I join in the hunt I understand the thrill of it. We eat less and less, so the substantial savings still do not add up to a large dollar amount. But it is fun, and often entices us to try something different. "What's this? How do we use it?". For a family with ravenous teenagers still at home, knowing about these discount stores will really help. You save money, and may even get higher quality. What's not to like?

With only one in my household, I am not too inspired to bargain shop for groceries. I'd rather go for convenience than a low price since I live alone, and don't save as much from low prices as would families with multiple people to feed. Sure, convenience costs more but I am inclined to say, "so what", as long as my WR provides me with more than I am spending overall.

What's money for, anyway? Well, convenience is one thing that money can buy, and that some retirees appreciate even more than the thrill of the hunt for bargains.

My (Great Depression Era) parents, on the other hand, when alive used to spend all of their Saturday mornings hopping from grocery store to grocery store, with ads in hand, shopping for bargains. It was not unusual for them to stand in the long lines at up to half a dozen large grocery stores each Saturday. They didn't need the savings, but despite that had a lot of fun doing this. I think that was great, but it's not fun for me.

[NW-Bound]

There's no Grocery Outlet where we are. In our RV travel in western coastal states, we liked to visit a store whenever possible. They have different local brands that we do not know about. And from the same producer, say the "Laughing Cow", we would find an unusual flavor of cheese spread. I understand that the stores often carry over-inventory or items that are discontinued. So, some of these novel items might not have sold well, or made for a test market, and are now liquidated. We do not pay the regular price to try something new that we may not like, but for 1/3 the price we are willing to take the chance. And it often turns out not that bad, just unusual.

I try to remember something unusual we have bought. For example, a spicy flavor of the Laughing Cow cheese spread, or a coffee-flavored Dannon yogurt. So, it's not just the savings, but also the sampling of some unusual food items that we do not see in local stores.

At home, we tend to fall in the same old rut and keep buying the same things days in days out.

[Corporateburnout]

Quote:

Originally Posted by W2R Sure, convenience costs more but I am inclined to say, "so what", as long as my WR provides me with more than I am spending overall. What's money for, anyway? Well, convenience is one thing that money can buy, and that some retirees appreciate even more than the thrill of the hunt for bargains.

+1.

Our expenses are in line with our retirement plan so convenience is important to us. If we come across deals we don't turn them down but we will not spend our time looking for bargains and don't care much about the thrill of the hunt.

[NW-Bound]

It's one of the pastimes for some people, and may not be justifiable in terms of costs or convenience.

We cannot and do not justify many of the things that we do, like gardening, a 2nd home, eating out, travel, etc...

[W2R]

Quote:

Originally Posted by NW-Bound It's one of the pastimes for some people, and may not be justifiable in terms of costs or convenience. We cannot and do not justify many of the things that we do, like gardening, a 2nd home, eating out, travel, etc...

You don't have to justify any spending decisions to me! I think you are enjoying your life while living within your means, so to me that is a success no matter how you look at it.

I can even reluctantly approve of your choice to maintain two homes. It's not my choice but then if we were all identical clones of one another, life (and the forum) would be pretty boring.

[tmm99]

Quote:

Originally Posted by NW-Bound It's one of the pastimes for some people, and may not be justifiable in terms of costs or convenience. We cannot and do not justify many of the things that we do, like gardening, a 2nd home, eating out, travel, etc...

Gardening is totally worth it as long as you grow some tomatoes since there is no comparison in taste between home grown tomatoes and store bought IMHO.


Sent from my iPhone using Early Retirement Forum

[NW-Bound]

No, of course none of us have to justify any aspect of our life to anybody. Life's too short and we should all do what we like (as long as it does not impede someone else's pursuit of his happiness).

I was just saying that what people think of as a nuisance may be a fun activity to somebody else. We do not even eat the same cheese (see the concurrent fun thread on cheese).

Quote:

Originally Posted by tmm99 Gardening is totally worth it as long as you grow some tomatoes since there is no comparison in taste between home grown tomatoes and store bought IMHO...

That's what I expect. Remains to be seen for me, after so many failed attempts. Maybe this year my luck will turn.

I would have better success of tasting vine-ripened tomatoes if I just advertised to buy it on craigslist from successful growers who do not know what to do with their bumper crop. See what I mean about convenience?

[RobbieB]

I'm going to grow some tomatoes too one of these days. I've done it before much to the joy of the resident gophers, but I've got a new plan. Get some of those large ceramic pots with the tiny drain hole and maybe also glue some stainless steel mesh over so the little buggers don't take em down on me.

[2017ish]

Quote:

Originally Posted by RobbieB I'm going to grow some tomatoes too one of these days. I've done it before much to the joy of the resident gophers, but I've got a new plan. Get some of those large ceramic pots with the tiny drain hole and maybe also glue some stainless steel mesh over so the little buggers don't take em down on me.

As part of our garden enclosure, we trenched and put chicken wire down 18 inches; that works. (A bit of work, but given what we were doing to keep the deer out, it wasn't that much extra.)

[RobbieB]

Yeah, good idea but too much work. It's just me and 3 plants ought to do it. I do miss tomatoes from the backyard, they really are the best. I used to do bell peppers, but I really don't get much difference compared to the store. One time I went to tend the garden and found (to my horror) that all my peppers had been drug underground by those thieving rodents.

[imoldernu]

Our retirement story is here:

http://www.early-retirement.org/foru...ent-62251.html

That 23 years is now 27...
No debt. Own home in IL, mfg. home in a FL retirement community, and a camp on a lake a half hour from here.
Spending less than $40K, and without the extra homes, much less. Don't feel that DW and I have missed a thing, and looking back to our net worth on the day we retired, just about the same as where we were back in 1989.

Happiest guy... still have lots to do.

[eta2020]

Quote:

Originally Posted by imoldernu Our retirement story is here: http://www.early-retirement.org/foru...ent-62251.html That 23 years is now 27... No debt. Own home in IL, mfg. home in a FL retirement community, and a camp on a lake a half hour from here. Spending less than $40K, and without the extra homes, much less. Don't feel that DW and I have missed a thing, and looking back to our net worth on the day we retired, just about the same as where we were back in 1989. Happiest guy... still have lots to do.

Thanks Imoldernu!

I went back to your original post. It is very interesting reading.