The subject of living on a certain budget in RETIREMENT frequently comes up and a list is prepared such as the one below to see where the money is going and how much it's going to take to live when retired.
Example:
RE Taxes
Home Insurance
Medical Insurance
Car Insurance
Electric
Phone
Water
TV
DSL
Propane
Gardner
Maid
Gas for car
Food (in)
Food (out)
AND HERE IT COMES: MISCELLANEOUS
What that covers is all the other things like clothing, Xmas presants and birthday presants, accountant fees, Visa permit fees, tolls for road, repairs for the home, repairs for the car, new appliances and other purchases for the home, new flowers and pots for the garden, new sheets, entertainment and travel. etc etc etc.
Do you really think you can put a figure on this catagory and stick to it? What kind of figure do you put down for Miscellaneous. When I do my mock new monthly budget for retireing in Mexico, I have added $800 to the miscellaneous column, but I havn't a clue if that would cover it or not. What say all of you there now. Do you try and put a figure on this stuff and live by it?
Example:
RE Taxes
Home Insurance
Medical Insurance
Car Insurance
Electric
Phone
Water
TV
DSL
Propane
Gardner
Maid
Gas for car
Food (in)
Food (out)
AND HERE IT COMES: MISCELLANEOUS
What that covers is all the other things like clothing, Xmas presants and birthday presants, accountant fees, Visa permit fees, tolls for road, repairs for the home, repairs for the car, new appliances and other purchases for the home, new flowers and pots for the garden, new sheets, entertainment and travel. etc etc etc.
Do you really think you can put a figure on this catagory and stick to it? What kind of figure do you put down for Miscellaneous. When I do my mock new monthly budget for retireing in Mexico, I have added $800 to the miscellaneous column, but I havn't a clue if that would cover it or not. What say all of you there now. Do you try and put a figure on this stuff and live by it?