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Old 10-16-2016, 07:18 AM   #41
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Originally Posted by Cap_Scarlet View Post
So here is my question - there seem to be quite a few people on here who expect to spend $100k + in retirement. Assuming we all have different "base" expenses (utilities, taxes, etc) lets ignore those for now. What I am interested in is understanding the discretionary expenses e.g.

- Cars and motorbikes
- Holidays
- Expensive hobbies
- Eating out

So for the spendthrifts out there - what's your money weakness?
Our biggest discretionary expense is our winter condo (previously renting a winter condo)... next is golf... membership at our local club and greens fees elsewhere and then travel, but we have not traveled much lately.

Our cars are new but modest ($30k SUV and $35k truck), no motorcycles, don't spend a lot on holidays or eating out.

For the last 12 months, our recreation and entertainment have been about $22k... $11k for the winter condo and a trip with our kids, $6k for golf, $3k dining out, $1k for DW's sewing habit and other dribs and drabs.
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Old 10-16-2016, 09:22 AM   #42
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Last year of private high school for one son, travel, summer cabin on lake, sprucing up home to sell, boat expenses, exercise expenses, college visits
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Old 10-16-2016, 09:27 AM   #43
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The things I spend money on
Grandchildren
Charity
House stuff
Clothes
Travel ( even just traveling a couple times a year to visit my grandchildren and my Mom added up to over $5,000.)
Daughter
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Old 10-16-2016, 09:28 AM   #44
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Our two largest expenses:

Travel: RV ing in US, 4-5 months in Poland almost every summer combined with road trips to european countries and cruises. All of that is done on budget but it is our biggest expense. We plan to continue to do that for the next 9-10 year.

Food: we eat healthy and we like fine dining.
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Old 10-16-2016, 09:31 AM   #45
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Spendthrift is a bit of a misnomer in that we can well afford our spend. Living within your means doesn't fall off the table just because the spend is over $100,000 if one's assets support it.

Travel - $20,000 a year currently, sixth year straight since ER'ing, and we've enjoyed every dollar spent.
Home improvements - Replaced all our flooring this year with hardwood and marble flooring, plus redid all our landscaping, and added a new patio.
Entertainment, dining out and hobbies - @ $10,000 a year.

Otherwise, we are pretty darn frugal believe it or not - no cable, no landline, cook from scratch when eating in, lots of free outdoor activities, low electrical, gas and water usage, high insurance deductibles. Keeping the lid on our other expenses is what, in large pary, allows for the above.
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Old 10-16-2016, 10:00 AM   #46
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Just retired a couple months ago, but travel -by far - has been our largest discretionary spend (25% of total annual spend in the past year). I expect that percentage will be reduced in the coming years, not because we will travel less, but because we will travel in a more "frugal" manner now that we will be truly "traveling" rather than "vacationing".

Golf and wine are our other "weaknesses"; another 10% of our total spend went for those two items in the past year.
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Old 10-16-2016, 10:51 AM   #47
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Since I retired (28 months now) I've purchased three "toys" - a Jeep ($36K), a diesel pickup ($36K), and a travel trailer ($12K). The travel trailer wasn't very expensive and isn't very fancy but since its purchase earlier this year I've logged almost 40 nights in it, saving over $5K in benchmark hotel costs after campsite fees. A boat is still on my toy list but I'm going to wait for that market to cool down as they can easily be half the current asking prices when the economy slows.
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Old 10-16-2016, 11:10 AM   #48
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Travel - leaving work tomorrow (no, dn tell them -- got layoff just sinonara)

Starbucks or Peets every morning

Concerts w/ dinner out

Looking for a hobby
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Old 10-16-2016, 11:19 AM   #49
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Gifts - charitable and family
Good Life - wine with meals and eating out
Travel - one month in Europe and 5 months in Mexico, plus PNW travel
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Old 10-16-2016, 07:49 PM   #50
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- Cars and motorbikes
I plan on getting a 2017 F350 platinum 6.7 crew cab 4x4. $75K. And a 5th wheel, $30K.

- Holidays
Probably $15K-$20K a year.

- Expensive hobbies
Not much.

- Eating out
I assume you mean restaurants. It's typically $50 a week, we go out 1-2x a week at cheap places where we have coupons and discounts.
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Old 10-16-2016, 08:27 PM   #51
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Travel is high on the list - this year we did a 3.5 week holiday taking the children to London, Paris, Toronto, Niagara Falls and New York (mostly paid for with DW's redundancy package). Going forward, I see more trips to New Zealand once our oldest daughter starts boarding school.

University fees are also something of a luxury, given that I am researching something of no practical value and am not intending to take on a job again at any stage unless for recreation.

School fees for our daughter - sending them to boarding school will up the cost of their education quite a lot.

Fortunately, DW goes back to full time employment in a couple of weeks.
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Old 10-17-2016, 09:17 AM   #52
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For us it's a little complicated to define "discretionary" expenses. Such things as travel, dining out, and gifts/donations are certainly discretionary and as a percentage of total after tax spend they would represent approximately 12% for travel, 7% for gifts/donations, and 4% for eating out. On an ongoing base case scenario. Obviously unusual items pop up. More often than not. As an example last year it was my daughter's wedding along with a sizeable house down payment gift. These items would have, in total, been almost a full years ordinary spend.

Our biggest expenses relate to our properties. 3 out of 4 could be considered discretionary but in the short term they are fixed and with no plans to downsize they remain part of our base committed spend level.
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Old 10-17-2016, 11:00 AM   #53
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Since I retired (28 months now) I've purchased three "toys" - a Jeep ($36K), a diesel pickup ($36K), and a travel trailer ($12K). The travel trailer wasn't very expensive and isn't very fancy but since its purchase earlier this year I've logged almost 40 nights in it, saving over $5K in benchmark hotel costs after campsite fees. A boat is still on my toy list but I'm going to wait for that market to cool down as they can easily be half the current asking prices when the economy slows.
What kind of travel trailer did you purchased? Is it new? Can you post a picture?
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Old 10-17-2016, 02:24 PM   #54
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Originally Posted by Cap_Scarlet View Post
So here is my question - there seem to be quite a few people on here who expect to spend $100k + in retirement. Assuming we all have different "base" expenses (utilities, taxes, etc) lets ignore those for now. What I am interested in is understanding the discretionary expenses e.g.

- Cars and motorbikes
- Holidays
- Expensive hobbies
- Eating out

So for the spendthrifts out there - what's your money weakness?
We're trying to keep the $100K+ lifestyle but spend less these days. We usually eat out twice a week and go to events like plays, museums or music venues 2 - 3 times a week. But I use coupons, Groupons, seat filler subscriptions, winery passports, museum memberships, etc. to keep the costs low.
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Old 10-18-2016, 05:17 AM   #55
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since this past jan 1, I bought a new Ford Transit--cash, a new motorcycle--cash, and a new Corvette, financed 20k at 1.5% interest as my cash is drawing 7%.

I have not touched my retirement savings.

I cook most meals. We normally eat out at the same places..$40 pizza meal...$40 mexican...only on aweekends.

As the wife is still employed, our travels have been limited to 9 days at a shot. I take a few trip on my motorcycle with out her. We both love to camp which makes our vacations pretty cheap.
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Old 10-18-2016, 08:20 AM   #56
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What kind of travel trailer did you purchased? Is it new? Can you post a picture?
It was a new 2016 Coachmen Clipper 17FQ. It was pretty much the only one I found that could be towed by both the Jeep and the pickup with a walk-around queen bed, full bath with vanity, larger holding tanks, etc.

I think MSRP was $16,600. RV show price was $10,995. With sales tax, title, registration, etc. the total was $11,750.

Here's a link: Coachmen Clipper 17FQ
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Old 10-18-2016, 09:35 AM   #57
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since this past jan 1, I bought a new Ford Transit--cash, a new motorcycle--cash, and a new Corvette, financed 20k at 1.5% interest as my cash is drawing 7%.
Where in the world does your cash draw 7%? Want me some of that!
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Old 10-18-2016, 03:35 PM   #58
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Buying new tires for the semi tractor, I used to scrimp and buy good used tires.

Getting ready to upgrade vehicles. Ours are approaching 120K miles, and I do not want to deal with the increase in maintenance. Plus the pickup needs a set of new tires.

We are considering buying some season tickets to the local university football and basketball games. That is a bit out of my comfort zone, because it is pure entertainment.
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Old 10-18-2016, 04:57 PM   #59
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Where in the world does your cash draw 7%? Want me some of that!
+1
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Old 10-18-2016, 05:23 PM   #60
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+1
+2 (me too wants a piece of that action)
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