Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 12-09-2009, 10:09 PM   #21
Thinks s/he gets paid by the post
SecondCor521's Avatar
 
Join Date: Jun 2006
Location: Boise
Posts: 2,398
$15,801.17 annually for one person starting February 9, 2016.

Approximately.

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
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 12-09-2009, 10:31 PM   #22
Thinks s/he gets paid by the post
Rambler's Avatar
 
Join Date: Jul 2007
Posts: 2,243
My parents live on $22k, and are happy and quite satisfied, at ages 73-74. They don't travel much and what travel they do is by high mpg car. We will pull the plug at 51, want to have an RV, travel more, visit the kids, our hobbies are a tad on the expensive side, McMansion and couple acres and a pool require more expensive maintenance, etc, so there is little chance we could get by on the kind of budget they have. Don't want to say what my target budget is...

R
__________________

__________________
Find Joy in the Journey...
Rambler is offline   Reply With Quote
Old 12-09-2009, 10:50 PM   #23
Recycles dryer sheets
 
Join Date: Sep 2009
Posts: 353
Do you include amortization costs; e.g. $2k per year per car if you buy $20k car every 10 years, or spending like roof / hvac / windows / other rare & expensive housing-related replacements?
__________________
smjsl is offline   Reply With Quote
Old 12-09-2009, 11:03 PM   #24
Full time employment: Posting here.
 
Join Date: May 2008
Posts: 589
I would include amortization costs, but, as the tax tables do, I would also assign a salvage value, if there really is a realistic one. E.g. A car has a definite salvage value, and some people use a single car for much longer, or shorter, than 10 years, resulting in very personal amortization rates.
__________________
plex is offline   Reply With Quote
Old 12-09-2009, 11:54 PM   #25
Moderator Emeritus
 
Join Date: May 2007
Posts: 11,031
Quote:
Originally Posted by smjsl View Post
Do you include amortization costs; e.g. $2k per year per car if you buy $20k car every 10 years, or spending like roof / hvac / windows / other rare & expensive housing-related replacements?
Yes I do. Currently, I budget about $3,800/yr for large home repairs and $3,600/yr for car replacement.
__________________
FIREd is offline   Reply With Quote
Old 12-10-2009, 05:39 AM   #26
Thinks s/he gets paid by the post
Rambler's Avatar
 
Join Date: Jul 2007
Posts: 2,243
My current projections include a $6000 per year amortization schedule on the cars, and a $6000 per year amort schedule on the yet to be purchaed RV. These may change over time as I determine exactly how long I want to keep the cars. My current amort schedule assumes replacement at 6-7 years.

I also have a home maintenance fund built in, at $7200 per year, about half of which will be deferred/accrued for major maintenance items (half for current small to moderate issues).

R
__________________
Find Joy in the Journey...
Rambler is offline   Reply With Quote
Old 12-10-2009, 09:49 AM   #27
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
youbet's Avatar
 
Join Date: Mar 2005
Location: Chicago
Posts: 9,965
Quote:
Originally Posted by WanderALot View Post
While I understand adding another person doesn't double the expense for things like housing and food, it does double when you include a healthy dose of travel and other fun.
Our budget shows expenses are divided pretty evenly, so it would be accurate to say that for either of us, we'd need 50% of our combined budget. In our case, it does double expenses to have two instead of one.

Food, transportation, health care, personal expenses all clearly double with two. Housing, if you kept the same house, wouldn't double. But, in our case, neither of us would keep this place if alone. We'd sell and go to something more affordable for a single.
__________________
"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
youbet is offline   Reply With Quote
Old 12-10-2009, 10:06 AM   #28
Full time employment: Posting here.
 
Join Date: May 2007
Posts: 530
I budget about 20K per year, and have always come in under budget. This is for just me - although SO and I live together, we have separate finances. We do share some expenses, which helps with the costs.
__________________
ksr is offline   Reply With Quote
Old 12-10-2009, 10:31 AM   #29
Thinks s/he gets paid by the post
walkinwood's Avatar
 
Join Date: Jul 2006
Location: Denver
Posts: 2,675
We had budgeted about 15% more than our pre-ER spend. But, due to the downturn in 2008, we lined our budget to pre-ER spending for 09. We'll come in about 10% below that.

My experience says you need to plan, but be flexible too.
__________________
walkinwood is offline   Reply With Quote
Old 12-10-2009, 10:48 AM   #30
Recycles dryer sheets
 
Join Date: Aug 2005
Posts: 127
52k for 2 after taxes
__________________
If you think nobody cares whether you're alive or dead, try missing a couple of mortgage payments.
kowski is offline   Reply With Quote
Old 12-10-2009, 11:22 AM   #31
Thinks s/he gets paid by the post
DangerMouse's Avatar
 
Join Date: Jan 2007
Location: Silicon Valley
Posts: 1,812
Wow, some of you guys just about live on the smell of an oily rag. I'm wondering how much you are all planning on leaving behind once you pop your clogs?
__________________

I be a girl, he's a boy. Think I maybe FIRED since July 08. Mid 40s, no kidlets. Actually am totally clueless as to what is going on with DH.
DangerMouse is offline   Reply With Quote
Old 12-10-2009, 11:42 AM   #32
Thinks s/he gets paid by the post
nun's Avatar
 
Join Date: Feb 2006
Posts: 4,834
This is all very interesting. I'm single and I thought that at $30k after taxes
I was being really frugal, but that seems to be about average. I'm looking at funding this through $15k a year I get in rent and returns from $500k investments. I should be ok, and when my $20k SS kicks in around 2024 things will be sweet.

I plan to leave the house and my capital when I "pop my clogs". I hope it will be over $1M
__________________
nun is online now   Reply With Quote
Old 12-10-2009, 11:59 AM   #33
Recycles dryer sheets
 
Join Date: Jan 2008
Posts: 384
I'm single, and expect to need about $36k after taxes
__________________
JoeDreaming is offline   Reply With Quote
Old 12-10-2009, 12:28 PM   #34
Thinks s/he gets paid by the post
 
Join Date: Jan 2006
Posts: 2,971
Quote:
Originally Posted by DangerMouse View Post
Wow, some of you guys just about live on the smell of an oily rag. I'm wondering how much you are all planning on leaving behind once you pop your clogs?
I'm single, no kids, therefore no plans to leave anything behind. My parents will likely inherite low 5 figures at most and the same for me from my parents. I don't plan to inherit anything from my parents since they're poor and since my mom may outlive me based on family history. Most people don't have the luxury of leaving or getting an inheritance of 6 or 7 figures.
__________________
aaronc879 is offline   Reply With Quote
Old 12-10-2009, 12:33 PM   #35
Full time employment: Posting here.
 
Join Date: Apr 2005
Posts: 577
My budget depends too much on how often I am willing to go to the dentist.

Everything else is well under control, since my favorite activity is hiking with my dog.
__________________
kat is offline   Reply With Quote
Old 12-10-2009, 12:49 PM   #36
Recycles dryer sheets
Kwirk's Avatar
 
Join Date: Mar 2006
Posts: 154
~100k for 2 of us after taxes and health insurance. Lots of travel.
__________________
Prepare for the future. Everything changes.
Kwirk is offline   Reply With Quote
Old 12-10-2009, 12:52 PM   #37
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
youbet's Avatar
 
Join Date: Mar 2005
Location: Chicago
Posts: 9,965
Quote:
Originally Posted by JoeDreaming View Post
I'm single, and expect to need about $36k after taxes
Nicely put. Those are the two things readers need to know in order for the number to mean anything: for one or two people and pre or post tax.
__________________
"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
youbet is offline   Reply With Quote
Old 12-10-2009, 12:53 PM   #38
Full time employment: Posting here.
 
Join Date: May 2007
Posts: 530
Quote:
Originally Posted by DangerMouse View Post
I'm wondering how much you are all planning on leaving behind once you pop your clogs?
I've never heard this phrase before, and it just cracked me up!

I don't have any kids so I don't have any need to leave something behind when I "pop my clogs" - I just have a will in place so that SO will get the house and the investments if I go first. In fact, I imagine when I get older and further into retirement, I'll probably start to feel comfortable withdrawing a little more from the portfolio.
__________________
ksr is offline   Reply With Quote
Old 12-10-2009, 12:58 PM   #39
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
harley's Avatar
 
Join Date: May 2008
Location: Following the nice weather
Posts: 6,418
Quote:
Originally Posted by aaronc879 View Post
Yes, i'm single. However, if I had a spouse, my expenses wouldn't double. They'd go up maybe $300/mo. not counting health ins.


Whooo! I hurt myself on that one. Hope I didn't rupture anything. heheheh
__________________
"Good judgment comes from experience. Experience comes from bad judgement." - Will Rogers, or maybe Sam Clemens
DW and I - FIREd at 50 (7/06), living off assets
harley is offline   Reply With Quote
Old 12-10-2009, 01:09 PM   #40
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
youbet's Avatar
 
Join Date: Mar 2005
Location: Chicago
Posts: 9,965
Quote:
Originally Posted by harley View Post


Whooo! I hurt myself on that one. Hope I didn't rupture anything. heheheh
You know I was gona say something but worried that DW might read it and beat me senseless (again).
__________________

__________________
"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
youbet 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
Do you keep a budget? bank5 FIRE and Money 73 01-03-2010 12:01 PM
Budget Spreadsheet Rustic23 FIRE and Money 5 08-25-2007 11:53 AM
How about this for an airfare budget? MooreBonds FIRE and Money 22 06-29-2007 01:29 PM
I need a budget... LRAO FIRE and Money 30 11-26-2005 12:28 PM
What is the most common ER budget? RockMiner FIRE and Money 58 01-02-2005 08:19 AM

 

 
All times are GMT -6. The time now is 07:47 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.