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Old 12-29-2017, 05:12 PM   #21
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Our analysis has changed the last few years. Disciplined tracking in categories did have a big part in us becoming Fire. We still keep a dedicated laptop for financials but focus switched in a different way. Come year end now it is a question of: are we living life like we want to? The $ is pretty dang fine. So if not, why not? We will see how the the analysis goes this year. I wonder if anyone else has had that shift in thought/behavior.
I did pretty much the opposite. Before I retired, I kept track of total spending, and how much was going into my retirement savings. Now that I am retired, I want to know all the details so that I can move money from one category to another, if I think it will make me feel happier with my retired life. It's quite a change in lifestyle, isn't it, so whatever helps us to have the happiest retirement is the right thing to do.
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Old 12-29-2017, 05:39 PM   #22
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I wonít know our 2017 spending until a week or so after the end of the year.

But I do review the detailed breakdown once all the credit card statements are in. I donít publish the details though.
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Old 12-29-2017, 05:45 PM   #23
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I won’t know our 2017 spending until a week or so after the end of the year.

But I do review the detailed breakdown once all the credit card statements are in. I don’t publish the details though.
That's perfectly OK! Like I said in the initial post,
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My guess is that many of us are adding up our spending for 2017 right now and want to tell someone about it. How was your spending compared with last year? Are you happy with the amount you spent? This is a thread for saying as much as you WANT to say and feel comfortable sharing. If you do not feel comfortable even reading this type of thread, please stop now! There are lots of other threads to read.
No need to "publish details" or to say one single word about anything unless/until you want to. There are many other threads to read. The whole point is to have fun.
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Old 12-29-2017, 05:57 PM   #24
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I love how low your yearly food spending is! Do you grow your own food? That's outstanding.
No, it's mostly attributed to 1) I eat at low end places; 2) always choose no name brands; and 3) raid Mom's refrigerator and eat several meals at her place each week.
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Old 12-29-2017, 05:59 PM   #25
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Very pleased with this year's effort.

Total was 83% of planned spending, so that's a nice addition to the slush fund. It will get used because I'll be buying a new car soon so the 2018 spending plan is quite a bit bigger than this year.
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Old 12-29-2017, 06:01 PM   #26
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Do you have any spending summary or analysis of your own that you wish to post about on this thread, anything at all? Please feel free to post YOUR OWN income taxes since that apparently floats your boat.
W2R...was not intending to be antagonistic; just asking a question. For us, income taxes (F/S/L) last year were $109K (effective tax rate of ~28%), which represented ~46% of total annual spending. Other expenditures comprised by $45 college for son, $20 travel/entertainment, $16 healthcare (premiums/deductible), $10 utilities, $10 memberships, $6 other insurance, $21 other living expenses /charity.
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Old 12-29-2017, 06:11 PM   #27
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No, it's mostly attributed to 1) I eat at low end places; 2) always choose no name brands; and 3) raid Mom's refrigerator and eat several meals at her place each week.
Well you are doing wonderfully!
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Old 12-29-2017, 06:15 PM   #28
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Although the year still has a few days in it, I don't think we have any more expenses besides the nice steaks I am going to buy for the New Year Day family dinner.

And so, the expenses this year add up to 0.0268x of the stash value as of today. And that's a low and very safe looking number. No stinkin' retirement calculator will tell me anything different.

PS. Would the cost of the steaks change the number to 0.0269? Out of curiosity, I checked, and there's no way that could happen, even with nice prime cuts for 6 people. And so, that's my final number to 3 significant figures.
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Old 12-29-2017, 06:24 PM   #29
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W2R...was not intending to be antagonistic; just asking a question. For us, income taxes (F/S/L) last year were $109K (effective tax rate of ~28%), which represented ~46% of total annual spending. Other expenditures comprised by $45 college for son, $20 travel/entertainment, $16 healthcare (premiums/deductible), $10 utilities, $10 memberships, $6 other insurance, $21 other living expenses /charity.
$109,000 federal, state, and local income taxes
$45,000 college tuition for son
$20,000 travel
$16,000 healthcare
$10,000 utilities
$10,000 memberships (?)
$6,000 other insurance
$21,000 other expenses

Wow! You have GREAT homeowners' insurance rates, for a house that is big enough to cost $10,000 annually just for utilities. I guess the property taxes are in the "other expenses" category.

I think you are doing great, and I'd imagine that when your son is done with college the resulting slack in your budget will be nice to have.
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Old 12-29-2017, 06:27 PM   #30
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Although the year still has a few days in it, I don't think we have any more expenses besides the nice steaks I am going to buy for the New Year Day family dinner.

And so, the expenses this year add up to 0.0268x of the stash value as of today. And that's a low and very safe looking number. No stinkin' retirement calculator will tell me anything different.

PS. Would the cost of the steaks change the number to 0.0269? Out of curiosity, I checked, and there's no way that could happen, even with nice prime cuts for 6 people. And so, that's my final number to 3 significant figures.
Hey, good job! Even if you invite enough guests over for those nice prime cuts to make it 2.69%, that is also a very low and safe looking number.
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Old 12-29-2017, 06:52 PM   #31
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Darn! I spoke too soon about that 0.0268 number to be final.

Just now realize that I have not included the I-bond interests in my and her accounts for December, which are not posted yet.

Assuming the interests to be like that of November, it will be 0.0266.
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Old 12-29-2017, 07:04 PM   #32
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We spent $150K this year. That is more than we have ever spent in our entire lives in one year. That doesn't even include income taxes. But, this was my final year of w*rk and we used the extra income to do some home upgrades, which cost us about $50K.

I hope to never spend that much again in one year. We have the Tesla purchase coming up next year, but otherwise I hope to minimize any major capital expenses.

If the stock market weren't doing so well, I'd probably be really freaked out about how much we spent this year. I'm not good at blowing dough.
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Old 12-29-2017, 07:53 PM   #33
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I just completed our expenses in Quickbooks for this year for 2 people.

Auto Expense - 3,627.77
Clothing - 149.98
Fees & Sub - 1,593.00
Groceries & Rest. - 13,386.90
Gifts - 652.14
House Expense - 3,440.26
Land Expense - 597.00
Hobbies - 2,194.81
Medical & Dental - 2,380.21
Personal Care - 1,071.41
Property Tax (6) - 2,090.00
Travel & Hotel - 4,265.45
Utilities - 5,530.12

TOTAL = 40,979.05

** Groceries & Restaurants are extremely high but other items like household items, supplements and cleaning supplies are included since they are purchased at grocery store.
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Old 12-29-2017, 08:18 PM   #34
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I am impressed by the number of people who know the breakdown to the dollar of spending by category. I have no idea what those numbers are here, only that we kept under SWR while managing to blough more dough this year.
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Old 12-29-2017, 08:38 PM   #35
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Family of 5. Here's how it's tracked in Quicken.

Life Insurance (Term) - 376
Home & Auto Insurance - 1,119
Mortgage Payment - 13,193
Property Tax - 4,766
Internet - 675
Electric/Gas - 1,851
Phone - 753
Water/Trash - 1,595
Household (Everything else: food, medical, restaurants, entertainment, travel, etc) - 44,086

2017 Total - 68,981

This method has worked for me since starting with Quicken back in 2005. I don't get too bogged down in the details as long as we stay within the monthly budget. I really don't care what the money is spent on as long as DW is happy. You know what they say, if momma ain't happy....

The final numbers for 2017 put us significantly under budget so this is good.

2016 Total - 65,030
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Old 12-29-2017, 08:49 PM   #36
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All our expenses are thru our two bank accounts. I download the transactions each month and assign them a category. We also have a weekly allowance that we don't track specifics. I tend to hoard mine for gifts, massages and ukuleles....
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Old 12-29-2017, 09:18 PM   #37
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We don't think too much about spending. Nor do we manage to a specific number. I'll have the precise total and breakdown by category later in January after CC data is in. But I know the rough number and we're still 30-35% below what FIRECalc says we can spend at 95%. And the portfolio is 30% higher than when I retired 4 years ago. I continue to discount SS heavily, and we have some needy in-laws, which explains some of the conservatism. But with the exception of our current spend on travel, good wine, and living in a very large house, we have no needs or wants that come anywhere close to closing the gap to the FIRECalc number. So we'll just carry on as-is, and the kids will probably make out like bandits.
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Old 12-29-2017, 09:22 PM   #38
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As usual I will spend under $20K in 2017. Good thing since my earned income will only be about $20K plus another $3K from dividends in taxable account. Earned income was so low due to workplace accident resulting in broken arm and hip. Difficult year, will be glad when it's over.
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Old 12-29-2017, 09:28 PM   #39
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Yikes!

In round numbers.

New truck $75,000
fifth wheel $38,000
Windows for a rental $14,000
New roof for a rental $24,000

I traveled a bit, $15,000.

in 2018, I should not need another truck or a fifth wheel.
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Old 12-29-2017, 10:08 PM   #40
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Yikes!

In round numbers.

New truck $75,000
fifth wheel $38,000
Windows for a rental $14,000
New roof for a rental $24,000

I traveled a bit, $15,000.

in 2018, I should not need another truck or a fifth wheel.
Whoa...Denali ? I paid 42k for my 2017 GMC base...that's the 6.6l Turbo Diesel 4x4 with trailering/tow pkg sticker was 54k but I drove to Illinois from MN to buy it.

Looks like you have about 113,000 in tax deductions this year, nice work!
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