Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 02-07-2008, 02:14 PM   #141
Full time employment: Posting here.
Helena's Avatar
 
Join Date: Aug 2006
Posts: 597
$25,000 year

2 people

Texas

Retired / PT self-employed

No debt. House and car paid off.

Still adding $$ to the nest egg.

I could live comfortably on less
but Texas has high property taxes.
__________________

__________________
Helena 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 02-07-2008, 02:18 PM   #142
Full time employment: Posting here.
Helena's Avatar
 
Join Date: Aug 2006
Posts: 597
Quote:
Originally Posted by DFW_M5 View Post

1) ~$80K, no mortgage, but high property taxes
2) 2 adults and 2 kids
3) D/FW, TX
4) Retired since last October.

I live in DFW too. Property taxes are terrible.

I've never seen $80K per year even when I
was in my corporate job !
__________________

__________________
Helena is offline   Reply With Quote
Old 02-07-2008, 02:33 PM   #143
Recycles dryer sheets
 
Join Date: Jan 2008
Posts: 314
Quote:
Originally Posted by Helena View Post
I live in DFW too. Property taxes are terrible.

I've never seen $80K per year even when I
was in my corporate job !
Try NJ taxes. Ours just hit $7,200 last year (although they did give us a rebate that caused it to go down to $5,600).
__________________
Primary title "chief moron"
myself is offline   Reply With Quote
Old 02-07-2008, 02:36 PM   #144
Full time employment: Posting here.
Helena's Avatar
 
Join Date: Aug 2006
Posts: 597
Quote:
Originally Posted by myself View Post

Try NJ taxes. Ours just hit $7,200 last year (although they did give us a rebate that caused it to go down to $5,600).

What is the tax appraisal of your house ?

My house is appraised for $150,000.
Property taxes are $3800.
__________________
Helena is offline   Reply With Quote
Old 02-07-2008, 02:37 PM   #145
Thinks s/he gets paid by the post
 
Join Date: Nov 2007
Posts: 1,052
Property taxes in D/FW high, but no state taxes, so I'd say we're a whole lot better off than CA. or up north.
__________________
Art G is offline   Reply With Quote
Old 02-07-2008, 02:50 PM   #146
Full time employment: Posting here.
Helena's Avatar
 
Join Date: Aug 2006
Posts: 597
Quote:
Originally Posted by Art G View Post

Property taxes in D/FW high, but no state taxes, so I'd say we're a whole lot better off than CA. or up north.

When I lived in Arkansas for a short time, they not
only had a state income tax... but also a personal
property tax... so, even though I owned no property in
Arkansas... I paid a tax on my rented home's contents !!

I moved back to Texas.
__________________
Helena is offline   Reply With Quote
Old 02-07-2008, 03:38 PM   #147
Full time employment: Posting here.
Urchina's Avatar
 
Join Date: Feb 2008
Location: Central Coast, California
Posts: 891
1. 75K. This includes 35K/year in mortgage, HOA fees and property taxes. Does not include car payments (cars are paid off)
2. 4 people: 2 adults and 2 kids (and 2 cats)
3. Central Coast, California
4. One adult working full-time outside the home, and one adult (me!) at home with kids. And cats.
__________________
Urchina is offline   Reply With Quote
Old 02-07-2008, 04:06 PM   #148
Thinks s/he gets paid by the post
 
Join Date: Nov 2007
Posts: 1,052
Quote:
Originally Posted by Urchina View Post
1. 75K. This includes 35K/year in mortgage, HOA fees and property taxes. Does not include car payments (cars are paid off)
2. 4 people: 2 adults and 2 kids (and 2 cats)
3. Central Coast, California
4. One adult working full-time outside the home, and one adult (me!) at home with kids. And cats.
Well, you could always eat the cats.
__________________
Art G is offline   Reply With Quote
Old 02-07-2008, 04:09 PM   #149
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Quote:
Originally Posted by Helena View Post
$25,000 year

2 people

Texas

Retired / PT self-employed

No debt. House and car paid off.

Still adding $$ to the nest egg.

I could live comfortably on less
but Texas has high property taxes.
Come to Wisconsin, we are trying to corner the market on high taxes.........
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Old 02-07-2008, 04:40 PM   #150
Moderator Emeritus
CuppaJoe's Avatar
 
Join Date: Jun 2007
Location: At The Cafe
Posts: 6,866
Quote:
Originally Posted by free4now View Post

....It's cheaper for me to rent here in San Francisco for a few years than it would be buy a home and live a few years in some supercheap place like Iowa. Converting to a $10k or $20k or even $30k lifestyle is not something that can be done free or instantaneously, and the cost of that conversion may be more than you save, unless you commit to 5-10 years or more.
This is a sub-topic I've thought about many times over the years. While still working, I would have to find an impossibly cheap (and non-existent) apt. in order to get a comparable deal outside of the city. Most options would require both acquiring a car and spending maybe $100+/mo. on public transit.

And the expense of moving to the boonies after R is also no small matter.
__________________
CuppaJoe is offline   Reply With Quote
Old 02-07-2008, 05:12 PM   #151
Thinks s/he gets paid by the post
 
Join Date: Jan 2006
Posts: 2,971
Quote:
Originally Posted by FinanceDude View Post
Come to Wisconsin, we are trying to corner the market on high taxes.........
Yes Wisconsin taxes are quite high. That's why you need to make a conscious decision to limit your personal taxes. I bought a condo that is only 800/yr in property taxes and I drive as little as possible(<7000 miles/yr) to keep my gasoline tax to a minimum.
__________________
aaronc879 is offline   Reply With Quote
Old 02-07-2008, 05:22 PM   #152
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,380
Quote:
Originally Posted by free4now View Post
Converting to a $10k or $20k or even $30k lifestyle is not something that can be done free or instantaneously...
I doubt that it is even possible, let alone instantaneous. This thread I believe contains wildly optimistic guesses. Let's remember that UncleMick, who is a self described "Cheap Bastard" found a $12,000 floor under which he perhaps might have been able to go, but couldn't get important people to follow him. He had a cheap paid off house, no medical insurance, and no insurance on his house.

And I believe that was 10 years or so ago, so prices have increased dramatically since then, especially for things the government pays no heed to, but people actually need. Like food, medical and dental care, gasoline, heating oil or natural gas, etc.

What people actually spend tells the tale, averaged with inflation adjustments, over 10 years or so, allowing you to capture at least some of the "stuff replacement cycle”. When the question has been framed, “What do you spend, we find some budgets over $100,000.

I do very little traveling, live in a modest apartment, have Medicare, and spend $2850/month plus income tax. And this is with little driving, a new paid off car, and no expensive hobbies. No accruals included in this total which is from the last 12 months running. It does include a TV, for which I spent less than $1000.

My last 12 months have been cheaper than any 12 months in the prior 6 years, and I don’t have readily available data going back further.

All of this goes to essentials except $325 which I classify as leisure, and in fact includes everything that is not medical care, housing, utilities, auto, food, insurance, personal care, electronics or utilitarian clothes. My friends, retired or working, mostly spend way more- on classes, meals out, drinks, trips. My categories are all functional, in that housing includes heat, a lamp I might buy, or whatever that I need to have a reasonably comfortable place to live.

I have cut back hard over the last few years, partly trying to emulate some of the low spenders here. But I spent more on "leisure" in 1970 than I do now, with no adjustments for inflation.

Further cuts I would consider poverty.

Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
haha is offline   Reply With Quote
Old 02-07-2008, 05:24 PM   #153
Dryer sheet aficionado
 
Join Date: Oct 2007
Posts: 35
$40,000 (no mortgage as I will buy house outright when I move)
1 person (me)
Ohio (after retirement)
Still working.

I will retire with about a $50,000 annual pension in a few years. Moving away from California will save me a load of money.
__________________
I love mankind; it's the people I can't stand. - Linus Van Pelt
MissParker is offline   Reply With Quote
Old 02-07-2008, 05:38 PM   #154
Thinks s/he gets paid by the post
Bikerdude's Avatar
 
Join Date: Jul 2006
Posts: 1,901
Quote:
Originally Posted by Helena View Post

My house is appraised for $150,000.
Property taxes are $3800.

My house in CT is assessed at $220,000. Taxes on house $5,550. 6% sales tax. 5% income tax. They tax pensions. They tax SS over 50K income.

Middle class is moving out. Low income/skill emigrants are moving in due to generous aid packages most notably aid to unmarried mothers with children.

Democrats control everything except the Governor and have for over 40 years. With the change in demographics their jobs are safe .
__________________
“I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said” Alan Greenspan
Bikerdude is offline   Reply With Quote
Old 02-07-2008, 06:36 PM   #155
Full time employment: Posting here.
Retire Soon's Avatar
 
Join Date: Nov 2005
Posts: 655
1. $35,000
2. 2 people
3. West Coast
4. retired
__________________
Retire Soon is offline   Reply With Quote
Old 02-07-2008, 06:43 PM   #156
Thinks s/he gets paid by the post
SecondCor521's Avatar
 
Join Date: Jun 2006
Location: Boise
Posts: 2,400
Quote:
Originally Posted by haha View Post
I doubt that it is even possible, let alone instantaneous. This thread I believe contains wildly optimistic guesses.
I think it is possible with the caveats:

1. It depends on how you count.
2. It depends on where you live.
3. It depends on what you define as "needs".

Per #1, if I exclude my kids (I plan to have enough for them and their college set aside before I retire), include a paid off house (I plan to pay off the mortgage before I retire), and subtract off work related taxes, I am fairly certain that what's left is only about $15K annually, if that.

Per #2, I live in Idaho. I would doubt anyone could sustain my (admittedly boring) lifestyle in NYC, San Fran, Seattle, etc. There appear to be other cheap parts of the country, though, including the South and South central US. My property taxes are roughly $1K annually, for example.

Per #3, the $15K of my budget alluded to above is almost entirely the basics: food, clothing, utilities, auto, insurance, etc. It does not include replacement costs / sinking funds, does not include any significant travel, and has a modest recreation budget. But neither does it include bartering for things or shooting and eating squirrels.

When I get home in a little bit maybe I'll post my actual Quicken #'s for the last six months.

2Cor521
__________________
"At times the world can seem an unfriendly and sinister place, but believe us when we say there is much more good in it than bad. All you have to do is look hard enough, and what might seem to be a series of unfortunate events, may in fact be the first steps of a journey." Violet Baudelaire.
SecondCor521 is offline   Reply With Quote
Old 02-07-2008, 07:10 PM   #157
Full time employment: Posting here.
 
Join Date: Jan 2008
Posts: 798
$150k
2 people plus dog,
2 kids in college but that is paid for,
$500k still on the mortgage, $6500 prop tax,
2 cars, still owe on both
Colorado,
I work part of the year
__________________
RockOn is offline   Reply With Quote
Old 02-07-2008, 08:11 PM   #158
Recycles dryer sheets
 
Join Date: Feb 2005
Posts: 188
Not retiring until August 1, but projections show we will need about $90k per year in Texas (constant values).

Cars paid off but $2300 monthly house note for 15 years (principal, insurance, taxes).

Will have some consulting work, so should be able to handle it comfortably.
__________________
playaman is offline   Reply With Quote
Old 02-07-2008, 08:15 PM   #159
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
dex's Avatar
 
Join Date: Oct 2003
Posts: 5,105
This thread might have been better off as a poll.
I'm just saying.
__________________
Sometimes death is not as tragic as not knowing how to live. This man knew how to live--and how to make others glad they were living. - Jack Benny at Nat King Cole's funeral
dex is offline   Reply With Quote
Old 02-07-2008, 09:38 PM   #160
Dryer sheet aficionado
 
Join Date: Jan 2008
Posts: 28
1. $37000 -- No mortgage, no car pmt., no cc debt. All forms of taxes and insurances included. Currently "splurge" on cable TV, high speed internet, land and cell phones. Could cut back on those if times get tough.
2. 2 +1 dog and 1 cat (Pet food and Vet bills included in above)
3. Suburban Chicago
4. ER'd 12/23/05 -- Not working and don't plan to.
__________________

__________________
BanDit1 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


Similar Threads
Thread Thread Starter Forum Replies Last Post
Poll: Annuities and retirement chinaco FIRE and Money 78 03-06-2007 08:49 AM
500 search phrases for 2006 dory36 Other topics 2 01-16-2007 08:00 AM
Retirement income question azanon Young Dreamers 4 11-04-2004 12:13 PM

 

 
All times are GMT -6. The time now is 07:08 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.