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Old 12-15-2010, 08:07 PM   #21
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And the prize is . . . used dryer sheets!! They should be perfect for storing old bacon grease.
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Old 12-15-2010, 11:37 PM   #22
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Actualy the cut in not driving to work in Texas was about 20% on top of a major cut moving from Houston to a city of 20k in the Hill Country. All in all that cut the auto insurance premium by about 50%.
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Old 12-16-2010, 07:06 AM   #23
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The biggest decline in spending for us (not including the kids leaving the nest ) was in vacations and eating out. Work was such that we spent a lot "getting away" for a few hours or a couple of days.

We still eat out and take vacations, but we don't need to spend nearly as much.
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Old 12-16-2010, 08:24 AM   #24
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- lunch.

Every other expense is basically the same.
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Old 12-16-2010, 10:27 AM   #25
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Monthly commuter train ticket. But now I drive more, so that expense is pretty much a wash.

The expense that disappeared to most is chipping in for lunch for team celebrations of events (a co-w*rkers birthday, new member to family, Christmas Kris Kringle gifts, etc.)
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Old 12-16-2010, 10:37 AM   #26
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Clothing expense is waaaay down. I'm loving this!

And I actually have time now to look for and use coupons...something I never did before.
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Old 12-16-2010, 11:21 AM   #27
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House cleaning products! Last house cleaner left two years ago. They always quit just before social security rules would kick in and train the next person who usually requested different products and none of them used the stuff I bought for myself to clean. So that large stash of toxic products is saving me a fortune.
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Old 12-16-2010, 11:50 AM   #28
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I have roughly estimated that my expense reduction will be 11% - 13% gross salary. This does not include what I contribute to my 401k.
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Old 12-16-2010, 12:21 PM   #29
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Plan on decreasing - No more FICA taxes
Gas, wear and tear on my car as I drive 100+ miles round trip each day.
Alcohol, for some reason I feel the urge to drink when I get home from work,
maybe it's my drive….
Wardrobe expense, no longer need to 'dress for success'.

Funny but I remember thinking a couple of years ago that I can't wait to
retire if for no other reason than I would no longer need to buy, much less
wear pantyhose. Unless you are a woman you just can't understand how
frustrating the whole pantyhose experience can be! I'm just grateful that
where I w*rk has relaxed the dress code, and it's no longer an issue.

I do have my housekeeper built in as a retirement expense, I'm not retiring
just to start cleaning floors and toilets. I plan on spending some of my newly
found free time to become a smarter consumer. Cooking healthier foods, buying
organic, using coupons, shopping for gently used items, doing things that I
just don't have the time for now to save money.
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Old 12-16-2010, 07:50 PM   #30
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looking at everybody's list it seems like the only large changes downwards I'll see are taxes and savings. Which fits with all of my estimating, so no change to the plan.
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Old 12-16-2010, 09:05 PM   #31
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I think each of us are a little different, but Taxes, are largely a function of income. Sure if your income drops by 2/3rd's then your taxes will drop. For me that is not a savings. No longer savings 50% or so of our salaries is also not a reduction in spending. Neither of these, imho, are expenses.

On the other hand, things people are mentioning like, eating out, lunches, laundry, child care, and commuting cost are real expenses that disappear. I figure all these except child care, would run $5,000 or more a year.
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Old 12-16-2010, 09:39 PM   #32
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I think each of us are a little different, but Taxes, are largely a function of income. Sure if your income drops by 2/3rd's then your taxes will drop. For me that is not a savings. No longer savings 50% or so of our salaries is also not a reduction in spending. Neither of these, imho, are expenses.

On the other hand, things people are mentioning like, eating out, lunches, laundry, child care, and commuting cost are real expenses that disappear. I figure all these except child care, would run $5,000 or more a year.
In my case I reduced taxes in retirement by moving to a State where there is no income tax but high property taxes instead, and I no longer own property. (the sales taxes are about the same here).

I also count FICA and Medicare as taxes and once I retired I stopped paying those as well.

The life insurance provided 'free' by my company was also taxed as a perk.
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Old 12-17-2010, 08:08 AM   #33
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Taxes! and lately divvy and interest income. Not all bad to be classed as "poor". This year total income will be low enough to allow us to move some TradIRA funds to the Roth tax free. More tax savings!
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Old 12-17-2010, 08:14 AM   #34
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Alan, just a little splitting hairs here, but if you live in a property tax state, you pay property tax. You may not right a check to the tax collector, but you do pay the tax. Just like the corporate income tax the consumer through higher prices pays the bill. I will admit that is some areas you can rent cheaper than your can buy, and you may be in a market where the owner of real estate can not recoup his cost. If so that is most likely temporary. As I said, just nit picking.
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Old 12-17-2010, 08:30 AM   #35
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I have been traveling for most of the time since I retired so I don't think my situation is relevant regarding most expenses.

But . . . my biggest expense reductions were taxes, by far. I am now living on less than I paid in just federal income taxes while working.

My #1, #2, #3, and #4 expenses while working were federal income taxes, state income taxes, rent, and then FICA/Medicare/disability taxes.

#1, #2, and #4 have gone to zero. By moving away from a high cost location my rent, #3, has decreased significantly. By not working, even the taxes that I was paying on my investment income (which I still have) dropped dramatically (capital gains and qualified dividends from about 22% to 0%, interest and regular dividends from about 35% to 0%).
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Old 12-17-2010, 08:40 AM   #36
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Unreimbursed travel expenses. Per diem only went so far, and being in a different city with soooooo many good restaurants was often irresistible.
The w*rk related social functions, like luncheons, holiday parties and retirement parties (where it would be commented upon if you did not attend) were a big drain.
Professional society membership fees were self paid in my case, so all those went away.
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Old 12-17-2010, 08:43 AM   #37
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Alan,
While I agree we all loose these Tax items, most of these are taken out of your check, and you have no control over them. Maybe it's just the way I budget, but I look at what I have to pay out of my take home. I had Income Tax there, but it was a sum over and above what was taken out in with holding.
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Old 12-17-2010, 10:27 AM   #38
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I am surprised not to see "mortgage payment" on anyone's list. Alan says he no longer owns property—is that true of the other responders as well? Or was the mortgage paid off before retirement?
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Old 12-17-2010, 10:29 AM   #39
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? Or was the mortgage paid off before retirement?
In my case, yes, about 2 years before retiring.
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Old 12-17-2010, 11:37 AM   #40
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I am surprised not to see "mortgage payment" on anyone's list. Alan says he no longer owns property—is that true of the other responders as well? Or was the mortgage paid off before retirement?
I have never owned a piece of property. My worldly possessions consist of about 6 boxes of stuff and a bike.

If I buy property in the future, it will almost certainly be for cash.
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