Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 05-05-2013, 11:51 AM   #21
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,823
Congratulations!

It does sound like you are just about all set, especially since you have quite a bit of excess you could fall back on in case of unexpected expenses.
__________________

__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 05-05-2013, 01:19 PM   #22
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 7,369
Quote:
Originally Posted by Bestwifeever

Congratulations!

If you pay half of everything, then is your household budget $30,000 (if your expenses are $15,000)? That is just about what ours is for the things you list before we add in our discretionary fun stuff.
That is the part I am confused on. I was assuming that was for both, as he referenced his wife a few times. But actually Alex refers to the numbers as himself only. Hopefully he will clarify that for us in his next post.
__________________

__________________
Mulligan is offline   Reply With Quote
Old 05-05-2013, 05:33 PM   #23
Recycles dryer sheets
 
Join Date: Dec 2012
Posts: 145
Quote:
originally posted by bestwifeever

congratulations!

if you pay half of everything, then is your household budget $30,000 (if your expenses are $15,000)? That is just about what ours is for the things you list before we add in our discretionary fun stuff.
Quote:
Originally Posted by mulligan View Post
that is the part i am confused on. I was assuming that was for both, as he referenced his wife a few times. But actually alex refers to the numbers as himself only. Hopefully he will clarify that for us in his next post.

Dear bestwifeever and Mulligan,

Thank you for your replies to my post.

I'm sorry for the confusion. Although I did explain that my wife funds her half of our expenses, it looks like I did not make things clear enough. So let's see if I pull it off this time.

My individual basic living expenses are $15,000 per year. That includes my half share of joint expenses (such as home operations and maintenance, groceries, etc) plus my personal living expenses (such as my truck's operations and maintenance, my insurance premiums, etc.)

The income I noted in my original post is my personal income. My wife has her own investments stash, and is also financially independent (on her own nickel, so to speak), but is choosing to continue working for at least one more year.

Factoring in savings from her present employer-provided health insurance on the one hand versus other higher personal expenses she has on the other hand, her individual basic living expenses are close to the same as mine.

So, yes, added together my basic living expenses and my wife's basic living expenses total around $30,000 per year.

I hope that is a little more clear.


Cheers...

Alex in Virginia
__________________
making the most of my time and my money
Alex in Virginia is offline   Reply With Quote
Old 05-06-2013, 07:18 PM   #24
Recycles dryer sheets
 
Join Date: Dec 2012
Posts: 145
Quote:
Originally Posted by bo_knows View Post

Alex in Virginia, Bo in Virginia wishes you well. But, Front Royal is too "out there" for me

Hello, Bo_knows...

Thanks for replying to my post.

Location, location, location, huh?! But it's all relative... relative to what each person values and enjoys.

Yep, Front Royal is in some ways out in the boonies. But, remember, I like to hike, bike, tour nature parks, and so on. And from where I am in Front Royal, I am a half-mile from a boat landing on the Shenandoah River... 3 miles from Shenandoah/Guest State Park and all its hiking trails... 2 or so miles from humongous caverns... less than 5 miles from the northern entrance to the Skyline Byway and its trailhead.. etc.

It works for me!

Cheers,

Alex in Virginia
__________________
making the most of my time and my money
Alex in Virginia is offline   Reply With Quote
Old 05-09-2013, 06:51 AM   #25
Recycles dryer sheets
 
Join Date: Dec 2012
Posts: 145
Quote:
Originally Posted by heeyy_joe View Post
If I recall correctly, you may be pushing the dividend envelope too hard with your investment choices. With a $28k cushion, why not play a little more defense?

Hi, heeyy_joe...

Thanks for replying to my post.

It's precisely because I have a $28,000 annual cushion that I can afford the risk of being more aggressive with my investments. Still, because I find it a challenge to come up with ways to spend that $28,000 for fun, you've motivated me to reevaluate the amount of time I find necessary to devote to investment management versus the increased returns from putting in that time.

So, that's material for 2 upcoming posts. One: on how/if I revise my investment strategy. Two: on how I think about and allocate that annual $28,000 surplus/reserve.

Thanks!


Alex in Virginia
__________________
making the most of my time and my money
Alex in Virginia is offline   Reply With Quote
Old 05-09-2013, 01:29 PM   #26
Recycles dryer sheets
 
Join Date: Feb 2008
Posts: 452
Quote:
Originally Posted by Alex in Virginia View Post
This in turn has dropped my annual living expenses to a mere $15,000. And, since my gross “passive” income is $53,800 a year, I’ve got a whopping $28,000 after taxes available to spend for fun. Whoppee!

<...>
Inspired by Mr. Money Mustache <....>
As soon as I read your $15K, I immediately thought about MMM and suggest to visit his blog.... Ha ha...scrolled down (didn't read the whole post yet, sorry) and here I notice MMM name

Good for you. If you wife supports you in this lifestyle that's wonderful and congrats.
__________________
aida2003 is online now   Reply With Quote
Old 05-09-2013, 04:14 PM   #27
Moderator
MBAustin's Avatar
 
Join Date: Jul 2010
Posts: 4,146
Congratulations and thanks for the encouragement you are giving some of those with OMY syndrome!
__________________
"One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute." William Feather
----------------------------------
ER'd Oct. 2010 at 53. Life is good.
MBAustin is offline   Reply With Quote
Old 05-11-2013, 02:40 PM   #28
Recycles dryer sheets
 
Join Date: Dec 2012
Posts: 145
Quote:
Originally Posted by Mulligan View Post
... I would think after paying your Medicare supplements, utilities,property taxes, and insurances, that would slash your amount at least in half left to spend before you get any of that steak in your belly.

Hi, Mulligan...

Thanks for replying to my post.

That's an interesting question you asked. I added those items up and my aggregate annual cost for Medicare, all other medical and LTC insurances, ALL other insurances (home, auto, liability, etc), utilities (including internet and netflix), and property taxes come to a total of $7297.

YIKES! That is 49% of my annual $15,000 basic living expenses budget. It's good to know... but soooo depressing!

A slightly more upbeat way for me to break it down is: $3960 all-in medical, $757 other insurance, $900 property taxes and $1680 all-in utilities. Sounds a little better to me, anyway.


Cheers...

Alex in Virginia
__________________

__________________
making the most of my time and my money
Alex in Virginia is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


 

 
All times are GMT -6. The time now is 07:46 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.