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Re: Leisure Spending??
Old 09-10-2004, 11:12 AM   #21
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Re: Leisure Spending??

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I've got you beat. *I dont think I've spent a buck on clothes for the last 2 years. *I'm about ready for a minor wardrobe update next summer though. *Might put me out $50 or so.

But then my wardrobe is sneakers year round, shorts and a tee shirt in the summer, and jeans and a sweatshirt in the winter.
After working for a good amount of time in Silicon Valley don't you have a lifetime supply of t-shirts, sweatshirts, bowling shirts, golf shirts, etc. all with company logos (some/many no longer in existence) and touting projects of which approximately half or more never shipped or flopped? I know I do and it drives my wife batty.
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Re: Leisure Spending??
Old 09-10-2004, 11:21 AM   #22
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Re: Leisure Spending??

I not only have that, I have a very fine and highly regarded collection of dead company and dead product shirts. Right next to my "foolish boasts" shirts (like: "Lotus 1-2-3...the winning choice in spreadsheets!").

Just north of my autographed Jim Cramer "Thestreet.com" tee shirt, from 1998 when the guy was practically a rock star.

Probably my best grab though was when my old company decided to run a big program. Chose a name, had realllly nice polo shirts made up, along with all the other accoutrements...pens, tins of mints and gum, you name it. Then some dickwad made a huge scene over the name, he already decided on a different name some years before, blah blah blah. Of course said dickwad was in line for a vice presidency, so after much wasted and worthless debate, we changed the name and all this stuff became expendable. I think I still have almost 100 of the polo shirts in a box out in the garage. And a lot of gum. I really enjoyed wearing one of those polos when I knew I was going to be in a meeting with the idiot who wanted the name change. Pretty much took him out of the discussion as he'd just sit in the chair and fume. Hee hee...

One of the very core reasons why I'm glad I dont work anymore.
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Old 09-10-2004, 11:52 AM   #23
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th, Hyper, one word for you guys:

eBay.
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Re: Leisure Spending??
Old 09-10-2004, 12:05 PM   #24
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Re: Leisure Spending??

Just sold my old plasma tv, auction closed 2 minutes ago, and the wifes old imac is about to close.

Anybody want a 100lb crt front projector?
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Re: Leisure Spending??
Old 09-10-2004, 01:24 PM   #25
 
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Re: Leisure Spending??

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This low 20s number that everyone keeps kicking around.... is this net, or gross income?
For a family of 3 this is our historical annual budget.

RENT $9,600
HEALTH INSURANCE-NET 4,416
FOOD 5,400
CLOTHING 1,620
HOUSEHOLD 1,200
HEAT 1,135
ELECTRIC 614
TELEPHONE 660
CABLE 600
ENTERTAINMENT 10,000
CAR AND GAS-NET 2,400
LIFE INSURANCE 276
DISABILITY INSURANCE 180
CAR INSURANCE-NET 500
GIFTS & OTHER 1,260
-----------
TOTAL $39,861
======

I'm sure we could cut down on some things, but I like to live comfortably but not lavishly. I want to ER in my 40s, but I don't want to deny my family a normal quality of life. I don't need a Mercedes, but I don't want an old clunker either. I will buy good quality foods, but not expensive caviar. Even with this average spending, I am able to accumulate $50K a year in wealth between investment growth and savings.
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Re: Leisure Spending??
Old 09-10-2004, 02:12 PM   #26
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Re: Leisure Spending??

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Even with this average spending, I am able to accumulate $50K a year in wealth between investment growth and savings.
Awesome. It's nice to see someone with kid(s) getting there.... while I don't have kids (I want some eventually), everyone talking about how your ER dreams will die due to the increased cost has given me pause. Are you saving anything for their college, or will you simply cross that bridge when they get there?
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Re: Leisure Spending??
Old 09-10-2004, 03:15 PM   #27
 
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Re: Leisure Spending??

I already have $800,000 net worth (all self-made). My child won't start college for another 15 years, and I plan on working for the next 9 years. My average net worth has been $50K a year (for the past 16 years), but it started at a much slower pace. Now with $800,000 working for me along with savings, I have been able to grow my net worth by $65K to $75K a year and if I am able to earn more than my average 4.5% over the next few years and manage to increase my earning power, I can see my net worth going up $100K per year. Of course, I am assuming all will go as planned which I can only pray it will. We may have another child which may throw things off a bit, or I may not earn what I plan on earning in those years, but I'm just keeping my fingers crossed and hoping for the best.

So to answer your question about college, I'm sure there will be enough in the pot in 9 years to justify my retirement as well as paying for some or all of my child's college. If not, I may have to keep working at it. Thus my rationale for enjoying life as you go (as long as you live within your means and have control of yourself), because you never know when it may end.
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Re: Leisure Spending??
Old 10-03-2004, 05:11 AM   #28
 
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Re: Leisure Spending??

An observation re. "leisure spending" from real life.
Yesterday I went fishing (nothing unusual there).
The fishing was poor but I had a great time being on the water. Cost was minimal; gas for the truck and boat. Everything else was "sunk cost", or for you
accountant types "fully depreciated". Then, in the evening we attended a musical at a nearby theater
(my culture "fix" for the year). Cost $84.00 for 2 tickets in the nosebleed section and the production was so-so.
We didn't dine out as part of this, but I had gas of maybe $5.00, so let's say total cost of $90 for the evening. The point is that the fishing was (almost)
free and much more enjoyable than the stage show.
I have found that free entertainment is all around you
if you just look for it. I used to buy about whatever I wanted, pick up huge dinner and bar tabs at over-
priced locations routinely. A lot of it was miserable.
But, I seldom have had a bad time fishing, or browsing
at Barnes and Noble, or killing time at the library, or
talking to a neighbor, or kicking tires at the local
motorocycle shop, or e-mailing friends, spending time
with my kids and grandkids. I still like my toys, but
I could cut leisure expenses to the bone and miss very little.

John Galt
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Re: Leisure Spending??
Old 10-03-2004, 07:22 AM   #29
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Re: Leisure Spending??


Free or very low cost entertainment for a cultural fix is pretty easy to find. Here in Sacramento there's often some sort of cultural event happening on the weekends (living history days, street musicians, even the farmers' markets have entertainment). And several times a year local museums offer free admission to anyone, not just kids. Usually the only cost is the gas to get there and parking. That's probably the case around the country.

I agree with John Galt: time spent in the outdoors doing something you love is worth more than season tickets to the opera, theatre, sports events. At least it is for me. The quality of experience at the opera or theatre usually isn't worth the cost. Listen to a CD or watch on television. If you're bored you're not stuck in a crowded theatre. You can simply turn it off.

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Re: Leisure Spending??
Old 10-03-2004, 08:07 AM   #30
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Re: Leisure Spending??

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Free or very low cost entertainment for a cultural fix is pretty easy to find. Here in Sacramento there's often some sort of cultural event happening on the weekends (living history days, street musicians, even the farmers' markets have entertainment). And several times a year local museums offer free admission to anyone, not just kids. Usually the only cost is the gas to get there and parking. That's probably the case around the country.
However, I do remember running into people I knew at the "Folsom Gourd Festival" and cooperatively promising never to tell anyone that we had been there... :P
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Re: Leisure Spending??
Old 10-03-2004, 08:12 AM   #31
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Re: Leisure Spending??

The Gourd Festival counts for culture in Sacramento. It's right up there with the grape stomp.
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Re: Leisure Spending??
Old 10-03-2004, 09:45 AM   #32
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Re: Leisure Spending??

I think the Gourd Festival was last weekend. I've never gone and I missed it this year. We were landscaping and I'm proud to say we're finally done. 12 yards of bark were spread yesterday and the yard looks great.
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