Koolau
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Now that Robbie is gone, Car-Guy will have to be the new BTD guy around here.
Heh, heh, big shoes to fill for Car-Guy but I think he's doing well so far!
Now that Robbie is gone, Car-Guy will have to be the new BTD guy around here.
My new F-150 cost $55k eight years ago.This discussion seemed to get diverted. If you have at least a million in investable assets, why would you choose to live on 16K to 30K per year?
My new F-150 cost $55k eight years ago.
My new Mustang cost $47k last November.
My 30-day domestic road trip last October cost at least $200 a day on average.
So yeah, I wonder about people who claim those low numbers...
Still running the '07 Japanese econobox that I bought new for $18K.My new F-150 cost $55k eight years ago.
My new Mustang cost $47k last November.
My 30-day domestic road trip last October cost at least $200 a day on average.
So yeah, I wonder about people who claim those low numbers...
Still running the '07 Japanese econobox that I bought new for $18K.
Still running the '07 Japanese econobox that I bought new for $18K.
That is just beyond my comprehension. I'm closer to 16k a month (with hobby cost) and that estimate may be a little low. We just went grocery shopping yesterday (for a two week supply) and that was ~$400 which equals $800 mo. And my gasoline bill averages over $700mo. Even more if I take any long trips. Of course walking here is out of the question. Nearest signs of civilization (to buy stuff) is ~15 miles away.
That is just beyond my comprehension. I'm closer to 16k a month (with hobby cost) and that estimate may be a little low. We just went grocery shopping yesterday (for a two week supply) and that was ~$400 which equals $800 mo. And my gasoline bill averages over $700mo. Even more if I take any long trips. Of course walking here is out of the question. Nearest signs of civilization (to buy stuff) is ~15 miles away.
As mentioned above, I did a 6600 mile 30-day road trip from New England to the Four Corners area and back last fall.I can see spending 16k a month with an expensive hobby. And I can see $800 a month on groceries. But $700 a month on gas is mind boggling.
That’s more than twice my average monthly gasoline bill, and I thought that I drive a lot for a retired person at 20,000 miles per year.
Congrats on truly BTD!
We spend 8k monthly.
Pre retirement working on Wall Street, our highest spending year was 19k monthly in 2014.
I'm averaging about 2000 miles a month between my two daily drivers. My new truck only gets 12 to 13 mpg on the highway "if" I drive the speed limit and it takes premium gas. My other truck get a little better (maybe 15) but uses regular gas. Adds up quick at gas prices these days.I can see spending 16k a month with an expensive hobby. And I can see $800 a month on groceries. But $700 a month on gas is mind boggling.
That’s more than twice my average monthly gasoline bill, and I thought that I drive a lot for a retired person at 20,000 miles per year.
Congrats on truly BTD!
I'm averaging about 2000 miles a month between my two daily drivers. My new truck only gets 12 to 13 mpg on the highway "if" I drive the speed limit and it takes premium gas. My other truck get a little better (maybe 15) but uses regular gas. Adds up quick at gas prices these days.
Example of 2/3 fill-up recently.
This thread definitely shifted gears! (no pun intended).....
Flieger
WSJ article - "You Don't Need to Be a Millionaire to Retire"
"...Among seniors with $50,000 to $99,999 in savings, 86% were doing OK or living comfortably...The median retiree who reported “living comfortably” had $100,000 to $249,000...Why, then, do seniors report such high levels of security...One reason is that Social Security benefits are more generous than people think. An average couple retiring in 2022 received...nearly $46,000...Conventional financial planning also overstates the income seniors need...average household spending drops by roughly 40% from age 65 to 90. Seniors aren’t running out of money...
https://www.wsj.com/articles/you-do...wsuuhj539mo&reflink=desktopwebshare_permalink
WSJ article - "You Don't Need to Be a Millionaire to Retire"
"...Among seniors with $50,000 to $99,999 in savings, 86% were doing OK or living comfortably...The median retiree who reported “living comfortably” had $100,000 to $249,000...Why, then, do seniors report such high levels of security...One reason is that Social Security benefits are more generous than people think. An average couple retiring in 2022 received...nearly $46,000...Conventional financial planning also overstates the income seniors need...average household spending drops by roughly 40% from age 65 to 90. Seniors aren’t running out of money...
https://www.wsj.com/articles/you-do...wsuuhj539mo&reflink=desktopwebshare_permalink
Well yes, I guess I do but maybe not as "much" as it seems. For the last decade or so, I've been buying at least one new vehicle every 12 to 18mos. BUT, when you are trading in a 12 to 18mo old vehicle on your new purchase, the trade typically covers most of cost. I really don't keep track but IIRC, in the past 10 years I have bought 8 new vehicles ranging in "list price" from the low 60's to ~120k. However my actually out of pocket cost has ranged from a low of "minus ~10k" (they paid me) to a high of plus ~35k. Several only cost me about 2k difference. So If you add all of that up, I doubt that I've spent 100k "out of pocket cash", on new cars in the past 10 years.There’s no doubt that transportation is a big factor in spending whether that’s high spending or low spending. We all know Car-Guy spends money on cars. I too appreciate new vehicles. If I needed to save money, cutting down to one car and driving something that could be insured for just liability would be one of the first things I’d do.
the thinking that spending drops. is not exactly correct...
...I help out older people like myself who need to squeeze every penny they can from their savings (personal and tax-preferred)...
I say baloney to retired people with only SS income and $200k or less in savings "living comfortably" nowadays.
What they are doing is "surviving" while hoping desperately that they never again need to buy a new set of tire or a new roof...