Fermion
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Traveling around in an RV to various parts of the country and then buying some cheap mountain property in eastern Washington, I have realized the basics are just not that expensive, especially while you can mostly ignore healthcare costs (might change, might not).
We are renting a 1bd-rm apartment in the local town for $525 a month, WSG included. Not a section 8 place, rather a quite cute little complex with mostly older retired folk (we will be the young uns). We are going to use our mountain property to stretch our legs and we plan to ride snowmobiles, ski, and snow shoe this winter. It is just going to be too cold to try and live in the RV on the mountain property without the few outbuildings we plan on constructing next year.
So $525 for rent, maybe $100 a month for electricity, $55 for unlimited internet/cell phone, $105 for health insurance (per couple, $550 max OOP). The apartment is right smack in the middle of town and walking to Safeway is a couple blocks. Library is one block away.
So what investments do you need to support this? $785 a month, $9420 a year, so at 4% that is a nest egg of $235,500.
That covers your bare basic shelter plus healthcare (and internet)
Now you just need food. We cook all of our meals now because of sodium content and spend about $700 a month but that could be toned down bit if you don't eat so much meat. We make lamb khorma, thai stir fry with ginger and garlic plus about 12 different veggies, beef stew, steak and baked potato. Quite a long way from eating cat food. $700 a month, $8400 a year requires $210,000 at 4%
So shelter, healthcare, food for $445,500 invested. A lean lifestyle perhaps but walks in the park, hiking in the mountains, visits to the library, working on various computer games and projects...it is not prison.
Now consider an additional $1,000,000 invested. $40,000 a year to take trips and buy luxuries. What is that, at least 6 to 8 cruises a year?
And $1,445,500 would be considered a quite low net worth on this forum.
It is when you support two homes, have two cars, kids in college, etc. For some people who are willing to simplify, it really allows for quite a vast amount of spending on frivolous stuff.
Healthcare could change and take a big bite out of this, but even at $20,000 a year health care costs, you could still have $20,000 left per year for luxuries and cruises.
We are renting a 1bd-rm apartment in the local town for $525 a month, WSG included. Not a section 8 place, rather a quite cute little complex with mostly older retired folk (we will be the young uns). We are going to use our mountain property to stretch our legs and we plan to ride snowmobiles, ski, and snow shoe this winter. It is just going to be too cold to try and live in the RV on the mountain property without the few outbuildings we plan on constructing next year.
So $525 for rent, maybe $100 a month for electricity, $55 for unlimited internet/cell phone, $105 for health insurance (per couple, $550 max OOP). The apartment is right smack in the middle of town and walking to Safeway is a couple blocks. Library is one block away.
So what investments do you need to support this? $785 a month, $9420 a year, so at 4% that is a nest egg of $235,500.
That covers your bare basic shelter plus healthcare (and internet)
Now you just need food. We cook all of our meals now because of sodium content and spend about $700 a month but that could be toned down bit if you don't eat so much meat. We make lamb khorma, thai stir fry with ginger and garlic plus about 12 different veggies, beef stew, steak and baked potato. Quite a long way from eating cat food. $700 a month, $8400 a year requires $210,000 at 4%
So shelter, healthcare, food for $445,500 invested. A lean lifestyle perhaps but walks in the park, hiking in the mountains, visits to the library, working on various computer games and projects...it is not prison.
Now consider an additional $1,000,000 invested. $40,000 a year to take trips and buy luxuries. What is that, at least 6 to 8 cruises a year?
And $1,445,500 would be considered a quite low net worth on this forum.
It is when you support two homes, have two cars, kids in college, etc. For some people who are willing to simplify, it really allows for quite a vast amount of spending on frivolous stuff.
Healthcare could change and take a big bite out of this, but even at $20,000 a year health care costs, you could still have $20,000 left per year for luxuries and cruises.