Join Early Retirement Today
View Poll Results: For retirees, how much did you spend last year?
less than $15000 4 7.55%
$15000 -$20000 4 7.55%
$20000-$30000 4 7.55%
$30000-$40000 9 16.98%
$40000-$50000 5 9.43%
$50000-$60000 6 11.32%
$60000-$70000 9 16.98%
$70000-$80000 5 9.43%
$80000-$90000 2 3.77%
$90000-$100000 0 0%
$100000-$125000 0 0%
$125000-$150000 2 3.77%
$150000-$200000 0 0%
more than $200,000, I have the big bucks 3 5.66%
Voters: 53. You may not vote on this poll

Reply
 
Thread Tools Search this Thread Display Modes
Re: Spending
Old 11-22-2005, 06:54 AM   #21
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
 
Join Date: Mar 2003
Posts: 16,391
Re: Spending

Quote:
Originally Posted by tryan
Interesting that ~40% can function on 40k or less.* Must be family dynamics.

No way a family of 4 can survive on less than 40k on the northeast.* Heck, healthcare alone is more than 10k.
My real estate taxes are a shade over $6k alone, and I'm living in a ~2k square foot house in a ho-hum middle class area. If I stay here for any length of time after FIRE, it will require more than $40k.
__________________

__________________
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."



- Will Rogers
brewer12345 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!

Re: Spending
Old 11-22-2005, 07:33 AM   #22
Full time employment: Posting here.
 
Join Date: Apr 2005
Posts: 577
Re: Spending


My real estate taxes are $2.8k, so I agree that alone makes a difference. With mortgage paid off, and no kids, I can keep my expenses very low very easily. My favorite activities -- hiking, snowshoeing, cross country skiing -- are free after you plunk down the $ on gear that lasts a long time. I plan to keep my four year old Honda another eight years or more. I still have income coming in from work, and that's for the extra pot.
__________________

__________________
kat is offline   Reply With Quote
Re: Spending
Old 11-22-2005, 07:51 AM   #23
Moderator Emeritus
Martha's Avatar
 
Join Date: Feb 2004
Location: minnesota
Posts: 13,212
Re: Spending

A year ago a thread was started on living on $36,000 a year. This was one of the most viewed threads on this board. http://early-retirement.org/forums/i...p?topic=1604.0

A year before that another popular thread was started on living on $50 a day.
http://early-retirement.org/forums/i...hp?topic=258.0

Maybe we need a new thread--living on $200 a day.

Median so far is around $50,000, but our self selected small sample probably doesn't mean much.
__________________
.


No more lawyer stuff, no more political stuff, so no more CYA

Martha is offline   Reply With Quote
Re: Spending
Old 11-22-2005, 08:19 AM   #24
Thinks s/he gets paid by the post
retire@40's Avatar
 
Join Date: Feb 2004
Posts: 2,670
Re: Spending

Quote:
Originally Posted by tryan
Interesting that ~40% can function on 40k or less.* Must be family dynamics.

No way a family of 4 can survive on less than 40k on the northeast.* Heck, healthcare alone is more than 10k.
The problem with a poll asking "how much did you spend last year" is that you are going to get answers from single people all the way to married folks with many children.
So this is more of an average household spending poll.

What we need is one of those sophisticated polls with categories like single, married, married with one child, married with 2 children, married with 3 children, married with more than 3 children.
__________________
No man is free who is not master of himself. --- Epictetus
Enjoy Yourself (It's Later Than You Think). --- Guy Lombardo
retire@40 is offline   Reply With Quote
Re: Spending
Old 11-22-2005, 08:20 AM   #25
Thinks s/he gets paid by the post
greg's Avatar
 
Join Date: Jun 2005
Posts: 1,071
Re: Spending

I roughly totalled our spending for this month, our first time in a number of years. $3000. Ahhhhhhhhhhh! The money is whizzing out of our pockets. I thought we were living a rather semi-frugal lifestyle, but there are so many non-recurring items that look like they--or similar ones--that will keep occuring so that it now appears frightening. I bought snow tires (should last 4-6 years-$140), replaced a windshield ($350--no deductable applied), a by-pass for the water heater on the camper ($75). Other than those items, everything was a regular monthly expense. And the irregular ones will happen regularly because if it's not one thing it's another. And this doesn't even include pornography

Possible solutions: Become fake Amish, wearing one set of dark clothes everywhere we go and bring a picnic basket with us that includes ham bologna sandwiches and fresh fruit, fly to Hawai and stand on a busy corner with a sign that says "Will work for poi," crawl in the basement and hide under the bed, or suck it up and just complain about taxes and inflation like everybody else..

Seriously, we are going to delve into the budget and see where we can slash and burn. We have zero regular monthly payments other than utilities and it's still $2500/mo expenses.

Thank God we have this board for cheap thrills, have Dan for our adult entertainment, REW to keep us me honest amused, and JG for spiritual guidance. So I start by counting my blessings, so far three. The good-bad ratio is currently 3:3000. Ahhhhhh!

--Greg
__________________
Compounding: Never forget! Never not remember!
greg is offline   Reply With Quote
Re: Spending
Old 11-22-2005, 08:26 AM   #26
Moderator Emeritus
Martha's Avatar
 
Join Date: Feb 2004
Location: minnesota
Posts: 13,212
Re: Spending

Quote:
Originally Posted by retire@40
The problem with a poll asking "how much did you spend last year" is that you are going to get answers from single people all the way to married folks with many children.
So this is more of an average household spending poll.

What we need is one of those sophisticated polls with categories like single, married, married with one child, married with 2 children, married with 3 children, married with more than 3 children.
I'll leave that to DanTien.
__________________
.


No more lawyer stuff, no more political stuff, so no more CYA

Martha is offline   Reply With Quote
Re: Spending
Old 11-22-2005, 09:21 AM   #27
Recycles dryer sheets
 
Join Date: Oct 2004
Posts: 214
Re: Spending

The spending numbers quoted here here don't represent a "normal" sample since most posters are both more frugal and better heeled than average. Anyone able to achieve ER has likely bested 90% of the population in these areas. Given this, I'm not sure what conclusions to draw from this poll?

Any family that can live well on 30-40K (spending) per year has my respect because I don't think we could do it, not unless we eliminated everything but absolute necessities. That's not the way we want to live.

In contrast, 60-70K would be quite generous. My budget is a work in progress, but it seems to want to settle in near 50K. I understand that many need less than that but living close to the bone all the time
would be stressful, and would it's self seem too much like work.
__________________
RockMiner is offline   Reply With Quote
Re: Spending
Old 11-22-2005, 09:50 AM   #28
Thinks s/he gets paid by the post
SteveR's Avatar
 
Join Date: Jul 2005
Posts: 2,803
Re: Spending

Quote:
Originally Posted by Lancelot
No government assistance for ole Lance. But I do pan handle on the streets of Bangkok and eat from dumpsters quite often...



Mai pen rai na...

Lance
My comment obviously address folks living in the US.* Ex. pats. would be excluded by default due to your country of current residence.*

So is Thai dumpster diving any better or worse than US dumpster diving?
__________________
Work? I don't have time to work....I'm retired.
SteveR is offline   Reply With Quote
Re: Spending
Old 11-22-2005, 10:30 AM   #29
Thinks s/he gets paid by the post
 
Join Date: Dec 2003
Posts: 1,375
Re: Spending

We get by just fine on about $50,000 annualy.
(After taxes).

I also live in expensive area. (Calif.)

That amount includes the care and feeding of a 3400 sq. foot home with 2,000 sq. feet of wrap-around decking.

I spend about $8,000 annually on tournament golf, and fly fishing.

We have 3 cars. One is p/up for brush hauling, fishing, etc.

We have "dish" with baseball and football package. Wife has cell phone.

Kids are long gone. Damn, they were expensive.

I plan on cutting back when I get old.

For ReWahoo: Yes, that figure includes a good supply of "Wheat Bread" on hand at all times.
__________________
Jarhead* is offline   Reply With Quote
Re: Spending
Old 11-22-2005, 10:52 AM   #30
Recycles dryer sheets
 
Join Date: Jul 2002
Posts: 420
Re: Spending

He, he - trust me Lancelot is certainly not dumpster diving - serviced apartment with maid and room service and the pool just outside the window in sunny Thailand 8).

Cheers!

Quote:
Originally Posted by SteveR
My comment obviously address folks living in the US.* Ex. pats. would be excluded by default due to your country of current residence.*

So is Thai dumpster diving any better or worse than US dumpster diving?
__________________
preben is offline   Reply With Quote
Re: Spending
Old 11-22-2005, 11:24 AM   #31
Thinks s/he gets paid by the post
 
Join Date: Aug 2005
Posts: 2,056
Re: Spending

I've still got a ways to go before I retire, but I'm privvy to a some of my grandmother's finances. I know she brings in less than $30K per year between her retirement and social security, but she's always got money left over so I guess that would put her in the $20-30K annual spending range.

Her house is paid for, so the biggest single expense she has is property taxes, which I think were around $2500. Then there's utilities...oil, electric, phone, water, cable tv. She also gives to the church, I think around $200 per month. No car, so that saves a lot. Then there's all those prescriptions and meds that seem to go hand in hand with old people.

Actually, the more I think about it, even $20-30K per year might be too high. She might actually be down in the high-end of that $15-20K bracket. She probably could be, except that my uncle lives with her, and she buys most of the food for both of them, and doesn't pay rent. He helps her keep the house up, though, and at her age (81) I don't know if I'd want her living alone, so it's a good thing he's there!
__________________
Andre1969 is offline   Reply With Quote
Re: Spending
Old 11-22-2005, 12:02 PM   #32
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,117
Re: Spending

Quote:
Originally Posted by ex-Jarhead
For ReWahoo: Yes, that figure includes a good supply of "Wheat Bread" on hand at all times.
That's good to know. But I'm curious. What would go first in your budget if you faced some hard times?



__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Re: Spending
Old 11-22-2005, 03:00 PM   #33
Thinks s/he gets paid by the post
 
Join Date: Dec 2003
Posts: 1,375
Re: Spending

Quote:
Originally Posted by REWahoo!
That's good to know.* But I'm curious. What would go first in your budget if you faced some hard times?



ReWahoo: We've been on hard times for the last couple of years or so, since I discovered the properties in "Wheat Bread".
__________________
Jarhead* is offline   Reply With Quote
Re: Spending
Old 11-22-2005, 03:40 PM   #34
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,386
Re: Spending

Quote:
Originally Posted by retire@40
The problem with a poll asking "how much did you spend last year" is that you are going to get answers from single people all the way to married folks with many children.
So this is more of an average household spending poll.

What we need is one of those sophisticated polls with categories like single, married, married with one child, married with 2 children, married with 3 children, married with more than 3 children.
Yes; and at least 50,000 poll takers to give our results any bit of meaning.

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
Re: Spending
Old 11-22-2005, 03:44 PM   #35
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,386
Re: Spending

Quote:
Originally Posted by Apocalypse . . .um . . .SOON
I roughly totalled our spending for this month, our first time in a number of years.* $3000.* Ahhhhhhhhhhh!* *--Greg
I really don't understand how you could be upset by this. You have a high net worth, your wife is an attorney, and you spend <$40,000 per year. What more could one ask for?

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
Re: Spending
Old 11-22-2005, 03:52 PM   #36
Moderator Emeritus
Martha's Avatar
 
Join Date: Feb 2004
Location: minnesota
Posts: 13,212
Re: Spending

Quote:
Originally Posted by HaHa
I really don't understand how you could be upset by this. You have a high net worth, your wife is an attorney, and you spend <$40,000 per year. What more could one ask for?

Ha
But. . . the $3000 didn't include any insurance payments of any type and didn't include taxes. And he hasn't seen my credit card bill yet.
__________________
.


No more lawyer stuff, no more political stuff, so no more CYA

Martha is offline   Reply With Quote
Re: Spending
Old 11-22-2005, 03:57 PM   #37
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
 
Join Date: Mar 2003
Posts: 16,391
Re: Spending

Quote:
Originally Posted by HaHa
I really don't understand how you could be upset by this. You have a high net worth, your wife is an attorney, and you spend <$40,000 per year. What more could one ask for?

Ha
Didn't you read: his wife is an attorney. 'Nuff reason for worry IMO.
__________________
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."



- Will Rogers
brewer12345 is offline   Reply With Quote
Re: Spending
Old 11-22-2005, 05:42 PM   #38
Moderator Emeritus
Martha's Avatar
 
Join Date: Feb 2004
Location: minnesota
Posts: 13,212
Re: Spending

http://www.bls.gov/cex/csxann03.pdf

This link is to Bureau of Labor Statistics information on household spending for 2001, 2002 and 2003. The average household had income of $51,128 before taxes and spent $40,817. The spending breakdown does not seem to include taxes. The greatest expense was for housing, transportation was next and food was third.
__________________
.


No more lawyer stuff, no more political stuff, so no more CYA

Martha is offline   Reply With Quote
Re: Spending
Old 11-22-2005, 07:12 PM   #39
Thinks s/he gets paid by the post
 
Join Date: Dec 2002
Posts: 3,875
Re: Spending

Quote:
Originally Posted by ex-Jarhead
ReWahoo:* We've been on hard times for the last couple of years or so, since I discovered the properties in "Wheat Bread".
Wow! That is a helluva good question.

Honestly, I have no idea where we would cut first, although
there are lots of possibilities.

JG
__________________
MRGALT2U is offline   Reply With Quote
Re: Spending
Old 11-22-2005, 07:48 PM   #40
Thinks s/he gets paid by the post
greg's Avatar
 
Join Date: Jun 2005
Posts: 1,071
Re: Spending

Quote:
Originally Posted by HaHa
I really don't understand how you could be upset by this. You have a high net worth, your wife is an attorney, and you spend <$40,000 per year. What more could one ask for?

Ha
Ha: This morning's rough estimate of spending shattered a mis-conception I had about myself and DW's spending. I had the belief that we could and did always get by on $24K of spending each year--easily--not counting splurges like a new RV or a big vacation. And with all the remainder spent on wild excesses and dancing in the moonlight with a butler following us around with a bottle of that Dom Peri(crap).

We still have to do this budget thing for a few more months to get a handle on average expenses. But I seriously thought we were spending about $1K/mo. less. In my mind : , our estate would be roughly bigger than Warran Buffet's when we passed on because of wise investment decisions and our ability to live only on one-tenth of stock gains each year. I wanted almost all of that final amount to sucked up by the Democrat's estate tax and Social Security. Man, burst my bubble.

--Greg
__________________

__________________
Compounding: Never forget! Never not remember!
greg 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
Did Your Spending Surprise You? mb FIRE and Money 49 09-18-2006 06:39 PM
endowment method of retirement spending starboardtack FIRE and Money 31 06-21-2006 07:50 PM
What are you spending it on?!? Nords FIRE and Money 15 02-21-2006 06:37 PM
Borrowing, Spending, Counterfeiting Editorial Mountain_Mike FIRE and Money 5 08-24-2005 01:28 AM
Scott Burns: Stay safe on retirement spending PL FIRE and Money 49 12-22-2004 11:59 AM

 

 
All times are GMT -6. The time now is 07:51 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.