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View Poll Results: How much more or less are you spending in ER vs working
A lot less 16 19.75%
A little less 28 34.57%
About the same 26 32.10%
A little more 8 9.88%
A lot more 3 3.70%
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Next poll...hows your spending in retirement
Old 02-20-2006, 10:14 AM   #1
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Next poll...hows your spending in retirement

We've had a discussion on this, heres the numbers part...

I'm thinking its not necessary to put percentages or strong definitions around what "a lot" is, its just a guideline to see where we land, roughly speaking, after retirement.
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Re: Next poll...hows your spending in retirement
Old 02-20-2006, 11:13 AM   #2
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Re: Next poll...hows your spending in retirement

Less lunches out. Less driving. More home repairs (someday this should end). Less shopping. More logs in the fireplace. A little less would be my guess - not exactly spreadsheet accurate, but as close to a spreadsheet as I want to get.
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Re: Next poll...hows your spending in retirement
Old 02-20-2006, 04:37 PM   #3
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Re: Next poll...hows your spending in retirement

I voted for the 'about the same' based on detailed quicken records and my planning for retirement.

We were married in late 2000 and both retired in early-mid 2003.* We have five full years of expenses records - two before and three after retirement.* DW has decided to work halftime since retirement and will do so for one more school year.

The numbers show the following

Less lunches out - less driving - but not much less - my vehicle experienced 15k/yr while working and 12.6k/yr after retirement - less local travel but more long trips in the summer after retirement.*

Son now out of high school so dropped child support - now lives with us while attending college - Grocery bill typically over $700/mo - but we no longer worry about leftovers moldering in the refrigerator.* Offsetting expenses here.

We've compensated since retiring by taking longer, more expensive major trips in the summer while some few items have reduced but none that stand out.* More offsetting expenses.

Our spending on the main expenses (including HC and LTC Ins, mortgage and car payments) is steady at $70k +/-2k/yr - not including her 403b and mandatory ret contr, our Roths, my Trad IRA (since she is working), other savings, fed and state inc taxes.* I'm not aware that any living expenses have been overlooked.

Best regards

JohnP
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Re: Next poll...hows your spending in retirement
Old 02-20-2006, 06:37 PM   #4
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Re: Next poll...hows your spending in retirement

Hmmm... let's see:
- no housecleaner
- no before-school childcare
- no after-school childcare
- no convenience-food meals
- less eating out (we have the time to cook)
- no yard service
- no commuting in rush-hour traffic
- no paying for car maintenance (we have the time now)
- no handymen or contractors (we can learn how to do for ourselves)
- no attitude of "what the heck, I'm exhausted and we need a break" spending
- no "what the heck, I'm exhausted and we've earned it" impulse buying
- no "office fundraising" for the boss' favorite worthy causes
- no "mandatory after-hours office socializing, $25/couple please"
- no drycleaning
- no new office attire
- no shoe maintenance
- no new shoes
- no new socks either
- time to volunteer at the school instead of writing out a check
- time to analyze the family spending habits and stick to what's valuable
- time to shop for food bargains
- time to shop for bargains on everything
- time to analyze the house's energy use and improve the heat transfer
- time to learn how to invest and find the best low-cost funds & stocks
- time to eat healthy & exercise instead of spending money on doctors.

Yeah, I'd have to say that we're spending a LOT less.
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Re: Next poll...hows your spending in retirement
Old 02-20-2006, 06:46 PM   #5
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Re: Next poll...hows your spending in retirement

Quote:
Originally Posted by Nords
Hmmm... let's see:
- no housecleaner
- no before-school childcare
- no after-school childcare
- no convenience-food meals
- less eating out (we have the time to cook)
- no yard service
- no commuting in rush-hour traffic
- no paying for car maintenance (we have the time now)
- no handymen or contractors (we can learn how to do for ourselves)
- no attitude of "what the heck, I'm exhausted and we need a break" spending
- no "what the heck, I'm exhausted and we've earned it" impulse buying
- no "office fundraising" for the boss' favorite worthy causes
- no "mandatory after-hours office socializing, $25/couple please"
- no drycleaning
- no new office attire
- no shoe maintenance
- no new shoes
- no new socks either
- time to volunteer at the school instead of writing out a check
- time to analyze the family spending habits and stick to what's valuable
- time to shop for food bargains
- time to shop for bargains on everything
- time to analyze the house's energy use and improve the heat transfer
- time to learn how to invest and find the best low-cost funds & stocks
- time to eat healthy & exercise instead of spending money on doctors.

Yeah, I'd have to say that we're spending a LOT less.
We are still working and have kids at home. All of your list except for housecleaner applies to us as well. Maybe I'm a retired zombie?
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Re: Next poll...hows your spending in retirement
Old 02-20-2006, 08:03 PM   #6
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Re: Next poll...hows your spending in retirement

I voted that I would be spending a lot more, if I can force myself to break my LWBYM habit and spend my allotted budget. It's still tough going from my accumulation phase to my spending phase. For me, it will be taking baby spending steps. I am trying though, after not buying a bicycle for 30 years, I just bought a folding bike for about $900 to be my travelling companion.

MJ
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Re: Next poll...hows your spending in retirement
Old 02-21-2006, 07:32 AM   #7
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Re: Next poll...hows your spending in retirement

I am estimating that our expenses may go up initially since we have one daughter who will be in college in a year and another in 5 years.
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Re: Next poll...hows your spending in retirement
Old 02-21-2006, 07:35 AM   #8
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Re: Next poll...hows your spending in retirement

I expect my expenses to remain about the same as now, say $25-$30k in today's dollars. Total spending will depend on the size of the port...
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Re: Next poll...hows your spending in retirement
Old 02-21-2006, 07:39 AM   #9
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Re: Next poll...hows your spending in retirement


Mine are pretty much the same, maybe less. It's because I already have everything I need.
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