FANOFJESUS
Thinks s/he gets paid by the post
I don't get this.. Doesn't anyone on this site give to Charity or gift to family at all??
We give around $800 to our church or about 5% of our 16k budget.
Last edited:
I don't get this.. Doesn't anyone on this site give to Charity or gift to family at all??
I look at WR as well... I take the balance of the port in January of each year.Exceeded the budget this year by 7% but still held the withdrawal rate to 3.5% of our initial portfolio. Using the 4% rule and adjusting for inflation over the last eight years the withdrawal rate would have been ~4.7%, so I think we're still in the comfort zone.
Our 20KVA unit (installed in March) along with the electrical hook-up, trenching (for propane lines), 500 gal. propane tank (along with a full load), and landscaping to put it all back together cost $18K....and generator were much more expensive...
Does anyone include reserve funds in their annual expenses for eventual replacement of big ticket items? For example, if you drive a car approximately 10 years before replacing it, and your car typically costs around $30K, do you include $3K in reserves each year? Or do you just have an extraordinarily high year of expenses in the year you buy the car?
I would think without these types of reserves we might underestimate our true long term expenses?
My plan is to keep track of expenses this year. I already know that I'm going to be spending a bunch on a wedding. I'm impressed with the level of restraint here. My goal is to keep spending below 85 thousand including the wedding.
I don't keep a detail expense recap like many. But earlier today I went back and made a budget for next year. I have been thinking about buying a condo on the AL coast and found even with the additional expenses associated with having one, I will still fall slightly below a 2% w/d rate next year(not including the purchase itself). I haven't considered the money for the condo as part of my portfolio as I have had it set aside for this for quite some time.
So being [-]a cheap old bastard[/-] frugal helps keep the overall expenses down. And being single too.
Lately I have been watching The Property Brothers. I really wish that they would tell what city and neighborhood they are in. I think they live in Las Vegas, but the homes they show and renovate look like they are in much older Eastern and Midwestern cities. Some of them are very junky and cost a lot for how awful they look, others are junky and seem cheap. They manage to redo them all to look extremely good on budgets that seem so inexpensive I can't quite figure it out.Sounds like fun! Spending part of the year at the beach, getting tan, and having fun, sounds like a great way to enjoy retirement. And below 2%? It sounds quite affordable on your budget.
Another thing that causes me to keep my overall expenses down, is that I am so set in my ways. I am so happy right now, and I have a hard time imagining or wanting to change my lifestyle. I guess age has lessened any inclination to change that I might once have had.
Also living in the South is a big help in keeping expenses down. The cost of living is so much lower here that we might as well be a different country.
Sometimes I am so surprised when other members tell us how much more it costs to live in expensive East Coast and West Coast locations, for example. They are getting so much less for their dollars than the rest of us are, and at times I wonder why they would choose that life. But then I read their posts, and see that they are buying location with those dollars. Whether it is scenery, an interesting cosmopolitan area, a desired humidity level, a delightfully high walkability score, or dearly beloved relatives in their area, they are buying location.
Nothing wrong with that, but I can see why it seems impossible to some that one could live on a lower budget, when one is not factoring in location as a genuine and very real expense.
I do not think that is excessive at all. I mean your total, not the wedding as I do not know how much that will be.My plan is to keep track of expenses this year. I already know that I'm going to be spending a bunch on a wedding. I'm impressed with the level of restraint here. My goal is to keep spending below 85 thousand including the wedding.
Wikipedia - They do have an office in Las Vegas. Season 3 half in Austin, TX, & half in Canada.Lately I have been watching The Property Brothers. I really wish that they would tell what city and neighborhood they are in. I think they live in Las Vegas, but the homes they show and renovate look like they are in much older Eastern and Midwestern cities. Some of them are very junky and cost a lot for how awful they look, others are junky and seem cheap. They manage to redo them all to look extremely good on budgets that seem so inexpensive I can't quite figure it out.
Pretty entertaining show, not the least in watching the couple members try to get what they are after.
I've seen a few where I can't imagine how they might be able to stay together.
Ha
Our 20KVA unit (installed in March) along with the electrical hook-up, trenching (for propane lines), 500 gal. propane tank (along with a full load), and landscaping to put it all back together cost $18K.
Ours cost about $13,000 for the same size Honeywell unit. Roof was $50,000 as we required a lot of remedial work but budgeted only $35,000. The car, you don't want to know. Way over on gifts too. Under on quite a few other things.
Obviously I don't have my FINAL spending totals for 2013 since the year is not over. I might need gas for my car this week, and plan to add about $30 to the restaurant total, for example. But anyway, here are my preliminary spending totals for 2013. Income taxes are not included but everything else is.
.
.
.
Groceries $2,488.66 Includes toiletries, detergent, etc. Restaurants $2630.79 lunch every day plus some dinners Gasoline $965.24 I live in an inner suburb, and everything is close by. Car $1443.91 insurance, maintenance, registration, safety inspection, driver's license renewal House $4904.48 insurance (homeowners' and flood), property tax, lawn care (no other maintenance/upgrades) Utilities $4947.11 Cable TV,internet, nat. gas, electricity, water, trash, sewage, cell, landline Fitness $1140.43 gym fees, weight watchers Clothes $527.37 casual "retiree wear" and shoes Miscellaneous $4009.33 Gifts, books, new 55" TV & stand, router, laptop, financial software, furniture, etc. Video Games, apps $904.19 also includes yet another two video game consoles Medical $4968.25 dentist, implant & crown, optometrist, prescription sunglasses & eyeglasses, prescriptions Health insurance $2,967.26 federal retiree health insurance + 7 months of Medicare Part B Total $31897.02 plus income tax
.
This is about $5,041 more than last year's spending. Medical + health insurance accounts for $4014 of that increase, but I also spent $1151 more on miscellaneous (on the "fun stuff" part of miscellaneous). It looks like I can afford to spend more than this, so I am loosening the pursestrings and next year, look out! Time to stop being such a tightwad as I was earlier in retirement.
No travel_vacations huh? Maybe it's part of Misc? Thx.
Does anyone include reserve funds in their annual expenses for eventual replacement of big ticket items? For example, if you drive a car approximately 10 years before replacing it, and your car typically costs around $30K, do you include $3K in reserves each year? Or do you just have an extraordinarily high year of expenses in the year you buy the car?
I would think without these types of reserves we might underestimate our true long term expenses?
No, thought about it but was just having too much fun here! So, I chose to stay in New Orleans this year. If I had taken a vacation, most of it such as airfare and hotel costs would have gone in Misc. or maybe a new "Vacation" category. But still, the food would have gone into Restaurants, and gas into Gasoline, vacation clothing into Clothing, and so on.