2020 Spending

[GravitySucks]

I was in my Fidelity account today so decided to transfer October and November $$ out of the MM fund into checking.
Posted it into my spreadsheet and noticed this should have been May/June money. A tax bill is pending so im figuring I'm running at a bit less than 2/3 of planned spending and just about 1/2 my SAFEMAX.

Good to know I can still live well on around half my planned spending.

 

[Dtail]

Through August, we are spending at 69% of budget.

 

[NW-Bound]

You made me look.

I do not have a strict budget, but YTD I have spent 1.2% relative to the stash size. Quite low compared to the 4% SWR commonly accepted. There's nothing to spend money on, when you are stuck at home due to the pandemic and not traveling.

Oh, did someone on the Web just say the new SWR is 0.5% or something as silly as that? If that is true, I will be in trouble with my profligate spending.

But wait! I still have SS to draw on, when I feel like it.

 

[Ronstar]

Spending is down because I no longer have a second house, and also due to Covid keeping us tethered to home base.

YTD spent 1.4% of stash. Probably be around the recommended 0.5% soon now that I just started ss.

 

[jollystomper]

Through August we have spent 20.8% of our SWR YTD spending. Compared to Jan-Aug 2019 we have spent 75% of what we spent then. All of our major spending that we could still do (primarily gifts) has been completed, so it is unlikely we will be spending much more... this might even be a "savings" year for us, but not by choice.

 

[geeky_grrl]

My spending this year is on track to be about half of last years. It will be around 1% WR vs 2%. Travel is the big difference in my budget.

 

[foxfirev5]

Spending next to nothing. The w/d's i took from the IRAs simply went to HY savings. Actually we're going to have a negative F&S tax rate this year. Financially this year is a meh. Try again next year. Yeah I'm depressed.

 

[HI Bill]

Still w#rking due to COVID, so I haven't started withdrawals. Oh, not exactly. We took out a chunk from the taxable accounts for the downpayment on a house, but 3/5 of that will be paid back when the current place sells.

 

[rodi]

We are on track for about $20k less than last year - despite the fact we remodeled a bathroom this year and are spending money like crazy on termite damage mitigation.

No travel is a big reason.

 

[RobbieB]

Spending as high as ever, more home improvements!

If you gotta stay home, make home a paradise -

 

[braumeister]

When COVID hit, I set the spending plan (I don't call it a budget) at 75% of last year's actual spending. At the rate we're going, it looks like we'll end up more like 65%.

 

[mckittri2000]

Barring any unforseeen disaster, we should come in at around 7-10K under budget at the end of the year. Most of this is due to lack of travel.

 

[W2R]

I am so happy! Because of this thread I checked on my spending thus far. Turns out it looks like my 2020 spending through August is less than 85% of my 2019 spending through August.



If that is true then that's pretty good. I did spend a lot on my pricey Laz-y-Boy recliner in January, plus I admit it, during the pandemic I have paid scalpers an arm and a leg for a few things that are hard to find these days.

And then there are a few fun things like my new Nintendo Switch + games, and my cute kitty slippers.

 

[DrRoy]

We were planning to spend $30-35K more this year due to remodeling. We may only be up $10-15 due to cancelled travel.

 

[Golden sunsets]

Because we don't have to take an RMD this year(thus reducing federal and state taxes) and our core spending is down we will have a negative WR, and this is after buying lumpy items including a 2020 MB auto and a 22Kw whole house standby generator.

 

[nobody]

I don't even want to look my spending for the year is about 500,000. Bought a house then got hit with needs new roof after hail storm only partially covered by insurance and needs a new AC. Not to mention other expenses like moving and living expenses.

 

[athena53]

As of 8/31, expenses are 17% below 2019 YTD. Taxes and travel both way down (got a refund on taxes rather than owing more and now making lower estimated payments), charitable donations up and I spent about $7,000 on quartz countertops.

Average withdrawal rate since retirement 6 years ago running a little under 3.5% annually.

 

[MrsHaloFIRE]

Would have to crunch the real numbers because we count automated savings as "spent" when it leaves our operational checking account monthly and goes into a holding area, and we do this monthly for many categories. Id say we are down at least 1k to 1500 a month under this time last year, which is surprising bc we are ordering everything vice picking it up in store so may not be getting the best prices. This time last eyar we were also still setting up the new-to-us house

 

[ShokWaveRider]

Had to look here too, we do not budget, it is what it is.

0.77375% of Stash YTD Here. No SS, No Pension, No nothing. This is less than last year thanks to some COVID sequestration.

 

[PaunchyPirate]

Just looked at my numbers.

Through the end of August, I've spent 77% of what I planned through that date. The reduction is primarily due to cancelled travel.

 

[Alan]

We have spent less than half of what we spent last year, all due to canceled travel plans.

 

[tmm99]

I decided to look. My spending is lower too by about 10% so far, compared to last year. It's due to no travel, plus some other reason. Not knowing how the pandemic will play out and how the market will be affected by it may be affecting my spending toward more conservative...

 

[Koogie]

Down around 25% right now. Probably be between 20-25% down by the end of the year.

No travel at all helps. Spending on hobbies is up though. As is liquid entertainment...

 

[O2Bfree]

I'm currently at 43% of planned spending for the 8 months past. Had to cancel a month-long vacation and haven't taken any of our usual road trips. Retired just one year ago, and may have over estimated my spending as well.

 

[FIREd]

I have spent 0.9% of my stash YTD. I’m spending as usual.