knucklehead 61
Recycles dryer sheets
- Joined
- Nov 3, 2008
- Messages
- 169
Retirement Living Budget
per month per year
$1,362.21 $16,346.52 house 19 mortgage 4.625%
$306.82 $3,681.84 house 19 prop tax
$51.25 $615.00 house 19 prop insurance
$154.17 $1,850.00 house 19 flood insurance
$250.00 $3,000.00 electric
$150.00 $1,800.00 natural gas
$300.00 $3,600.00 2 cell phones, internet, & tv
$26.00 $312.00 trash
$125.00 $1,500.00 3 cars insurance
$75.00 $900.00 3 bike insurance
$35.65 $427.82 rv insurance
$33.33 $400.00 boat insurance
$10.50 $126.00 3 cars dmv reg.
$10.50 $126.00 3 bike dmv reg.
$13.58 $163.00 rv dmv reg.
$3.50 $42.00 boat trailer dmv reg
$3.50 $42.00 car trailer dmv reg
$5.00 $60.00 boat reg
$100.00 $1,200.00 wine
$800.00 $9,600.00 food
$500.00 $6,000.00 gas
$300.00 $3,600.00 clothing
$533.33 $6,400.00 pet care
$100.38 $1,204.56 2 dog insurance
$18.00 $216.00 netflix
$500.00 $6,000.00 my health insurance
$25.00 $300.00 my health care out of pocket expense
$327.00 $3,924.00 dw's health insurance
$416.66 $5,000.00 dw's health care out of pocket expense
$250.00 $3,000.00 tax prep / accounting
$500.00 $6,000.00 entertainment
$1,000.00 $12,000.00 misc. supplies & hobby's
$33.33 $400.00 umbrella insurance
$122.39 $1,468.65 rental 2 costs
$121.89 $1,462.65 rental 3 costs
$460.32 $5,523.85 rental 5 costs
$9,024.31 $108,291.89 total expences
$9,166.67 $110,000.00 total net cash wanted
$401.52 $4,818.18 my h.s.a. account ($53,000 / 11 years)
$75.76 $909.09 dw's h.s.a. account ($10,000 / 11 years)
$919.00 $11,028.00 dw's ss @ 66
$41.67 $500.00 10k @ 5% brokerage account
$2,065.29 $24,783.43 rental 1 @ $4,155 rents
$576.09 $6,913.09 rental 4 @ $1,755 rents
$843.43 $10,121.13 rental 9 @ $1,000 rents, no mortgage
$824.24 $9,890.90 rental 10 @ $1050 rents, no mortgage
$691.46 $8,297.47 rental 11 @ $900 rents, no mortgage
$648.32 $7,779.83 rental 12 @ $880 rents, no mortgage
$740.91 $8,890.87 rental 13 @ $950 rents, no mortgage
$692.75 $8,313.04 rental 14 @ $850 rents, no mortgage
$688.84 $8,266.06 rental 15 @ $1,950 rents
$344.79 $4,137.51 rental 16 @ $1,050 rents
$400.00 $4,800.00 rental 17 @ $400 rents, no mortgage
$244.04 $2,928.51 rental 18 @ $1,150 rents
$692.87 $8,314.43 rental 19 @ $875 rents, no mortgage
$231.58 $2,779.01 rental 20 @ $900 rents
$1,253.82 $15,045.87 rental 21 @ $1,575 rents, no mortgage
$1,244.91 $14,938.92 rental 22 @ $1,600 rents, no mortgage
$13,621.29 $163,455.34 gross income
-$3,000.00 -$36,000.00 less rental repairs, loss, vacancy, etc.
$10,621.29 $127,455.34 gross taxable income
$2,124.26 $25,491.07 income taxes (20%)
$500.00 $6,000.00 note payment income for 24 months
$8,997.03 $107,964.27 net income
-$169.64 -$2,035.73 (shortfall)
98.15% of total cash wanted
options: use cash in bank to pay off 401k loan or buy 1 or 2 more rentals that will
cashflow as shown below:
$926.48 $11,117.76 401k loan payment (approx. 38k balance)
$790.83 $9,491.01 possible rental 23 @ $1,050 rents, no mortgage
$328.52 $3,942.27 possible rental 24 @ $1,150 rents, with 80k mortgage
per month per year
$1,362.21 $16,346.52 house 19 mortgage 4.625%
$306.82 $3,681.84 house 19 prop tax
$51.25 $615.00 house 19 prop insurance
$154.17 $1,850.00 house 19 flood insurance
$250.00 $3,000.00 electric
$150.00 $1,800.00 natural gas
$300.00 $3,600.00 2 cell phones, internet, & tv
$26.00 $312.00 trash
$125.00 $1,500.00 3 cars insurance
$75.00 $900.00 3 bike insurance
$35.65 $427.82 rv insurance
$33.33 $400.00 boat insurance
$10.50 $126.00 3 cars dmv reg.
$10.50 $126.00 3 bike dmv reg.
$13.58 $163.00 rv dmv reg.
$3.50 $42.00 boat trailer dmv reg
$3.50 $42.00 car trailer dmv reg
$5.00 $60.00 boat reg
$100.00 $1,200.00 wine
$800.00 $9,600.00 food
$500.00 $6,000.00 gas
$300.00 $3,600.00 clothing
$533.33 $6,400.00 pet care
$100.38 $1,204.56 2 dog insurance
$18.00 $216.00 netflix
$500.00 $6,000.00 my health insurance
$25.00 $300.00 my health care out of pocket expense
$327.00 $3,924.00 dw's health insurance
$416.66 $5,000.00 dw's health care out of pocket expense
$250.00 $3,000.00 tax prep / accounting
$500.00 $6,000.00 entertainment
$1,000.00 $12,000.00 misc. supplies & hobby's
$33.33 $400.00 umbrella insurance
$122.39 $1,468.65 rental 2 costs
$121.89 $1,462.65 rental 3 costs
$460.32 $5,523.85 rental 5 costs
$9,024.31 $108,291.89 total expences
$9,166.67 $110,000.00 total net cash wanted
$401.52 $4,818.18 my h.s.a. account ($53,000 / 11 years)
$75.76 $909.09 dw's h.s.a. account ($10,000 / 11 years)
$919.00 $11,028.00 dw's ss @ 66
$41.67 $500.00 10k @ 5% brokerage account
$2,065.29 $24,783.43 rental 1 @ $4,155 rents
$576.09 $6,913.09 rental 4 @ $1,755 rents
$843.43 $10,121.13 rental 9 @ $1,000 rents, no mortgage
$824.24 $9,890.90 rental 10 @ $1050 rents, no mortgage
$691.46 $8,297.47 rental 11 @ $900 rents, no mortgage
$648.32 $7,779.83 rental 12 @ $880 rents, no mortgage
$740.91 $8,890.87 rental 13 @ $950 rents, no mortgage
$692.75 $8,313.04 rental 14 @ $850 rents, no mortgage
$688.84 $8,266.06 rental 15 @ $1,950 rents
$344.79 $4,137.51 rental 16 @ $1,050 rents
$400.00 $4,800.00 rental 17 @ $400 rents, no mortgage
$244.04 $2,928.51 rental 18 @ $1,150 rents
$692.87 $8,314.43 rental 19 @ $875 rents, no mortgage
$231.58 $2,779.01 rental 20 @ $900 rents
$1,253.82 $15,045.87 rental 21 @ $1,575 rents, no mortgage
$1,244.91 $14,938.92 rental 22 @ $1,600 rents, no mortgage
$13,621.29 $163,455.34 gross income
-$3,000.00 -$36,000.00 less rental repairs, loss, vacancy, etc.
$10,621.29 $127,455.34 gross taxable income
$2,124.26 $25,491.07 income taxes (20%)
$500.00 $6,000.00 note payment income for 24 months
$8,997.03 $107,964.27 net income
-$169.64 -$2,035.73 (shortfall)
98.15% of total cash wanted
options: use cash in bank to pay off 401k loan or buy 1 or 2 more rentals that will
cashflow as shown below:
$926.48 $11,117.76 401k loan payment (approx. 38k balance)
$790.83 $9,491.01 possible rental 23 @ $1,050 rents, no mortgage
$328.52 $3,942.27 possible rental 24 @ $1,150 rents, with 80k mortgage