Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 12-29-2020, 11:26 AM   #41
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Nemo2's Avatar
 
Join Date: May 2011
Posts: 8,368
All these numbers prompted me to look at our (past) yearly travel expenditures - 2017 was the 'biggie'....74 nights away total, 2 separate trips to Europe, (one of which included 3 back-to-back cruises from Costa Rica to Norway, thence Poland).......overall cost $15,787 Canadian, (somewhere in the region of $12,350 US).

I guess the 'Once Frugal, Always Frugal' thread was correct.
__________________
"Exit, pursued by a bear."

The Winter's Tale, William Shakespeare
Nemo2 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 12-29-2020, 11:31 AM   #42
Thinks s/he gets paid by the post
 
Join Date: Apr 2015
Posts: 3,925
I have not checked exact numbers/dollars, but I know we have spent less than last year. I will do my end of year expenses on Dec. 31 :-)
__________________
Give a Man a fish, he will eat for a day.
Teach a Man to fish, he will eat for a lifetime.
pacergal is offline   Reply With Quote
Old 12-29-2020, 11:41 AM   #43
Full time employment: Posting here.
 
Join Date: Jul 2011
Location: Reading, MA
Posts: 852
Interesting thread.
I started my eighth year of retirement this year and continue to have no specific numbers on how much I spend, especially by category.
I live north of Boston, have been single for a while now, but pay a modest amount toward my girlfriend's expenses (separate house).

I can get away with this because my basic expenses are a modest percentage of total income. So the issue comes down to planning/managing discretionary expenses, mainly travel related.

And with very little travel since March this year, a lot more excess income has been going into investments.
Cheerio...
TheWizard is offline   Reply With Quote
Old 12-29-2020, 12:18 PM   #44
Thinks s/he gets paid by the post
 
Join Date: Apr 2010
Posts: 4,760
Down 8K from last year..even after 15K for gifts/charities. Main reason is no travel, and no spends for winter 2021 travel. Based on after tax spend.
brett is offline   Reply With Quote
Old 12-29-2020, 12:18 PM   #45
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
ExFlyBoy5's Avatar
 
Join Date: May 2013
Location: ATL --> Flyover Country
Posts: 6,388
This has been the most expensive year we have had yet since retiring in 2014 (not withstanding my few months this year of being stupid and going back to w*rk)

Biggest increases have been unexpected *but not unforeseeable* expenses.

Our "all in" regular expenses for 2020: $32,045
This includes every dollar that went out the door (not including the below "extras")

"Extra" expenses for 2020: $20,174. <-- These expenses were $7,458 for veterinarian care for two dogs that had serious issues this year and $12,716 for landscape debris/destruction from an ice storm in October.

So, total spending for 2020: $52,219

Despite this year's expenses, this was still less than 35% of our income (my mil pension, DW's W2 income, and my short w*rk stint). Investment returns have been pretty good this year, but that is for another thread.
__________________
FIRE'd in 2014 @ 40 Years Old
Professional Retiree
ExFlyBoy5 is online now   Reply With Quote
Old 12-29-2020, 12:20 PM   #46
Thinks s/he gets paid by the post
 
Join Date: Feb 2016
Location: SoCal
Posts: 1,135
I didn't keep track in 2020, but '19 was 50,400.

That's 6 insurance policies, all taxes, my residence + 2 rental houses, everything.

I lump it all together as money spent is money spent.
Mr. Tightwad is offline   Reply With Quote
Old 12-29-2020, 12:20 PM   #47
Recycles dryer sheets
madsquopper's Avatar
 
Join Date: May 2006
Location: Vienna
Posts: 226
We spent about 15% less this year, primarily due to no travel expenses. No live dance events probably saved another 2.5K.
madsquopper is offline   Reply With Quote
Old 12-29-2020, 12:37 PM   #48
Thinks s/he gets paid by the post
 
Join Date: Sep 2006
Posts: 1,396
2020 is not over, but so far my 2020 spending is 70% of my 2019 spending. The biggest reduction was travel.
JustCurious is offline   Reply With Quote
Old 12-29-2020, 12:42 PM   #49
Recycles dryer sheets
Lagniappe's Avatar
 
Join Date: Mar 2006
Posts: 390
In 2019, I spent 1.45% of assets - that included selling and buying houses, moving, buying new (consignment) furniture, 3 months of budget travel etc.

I decided that 2% was a good goal for 2020. Then Covid hit, and it looked like I would spend less than 1%. No travel, very limited eating out, minimal entertainment expenses.

I decided to renovate my recently purchased condo, in the spirit of blowing that dough. New A/C, kitchen, office, gutters, bath, and floors. I had to move out and rent a place for a few months because my allergies couldn't handle all the construction. I also had some extraordinary expenses (helping family, legal fees) that now seemed a good time to deal with. Assuming no major spending in the next few days, I will spend 2.85% of my portfolio this year. It felt like a lot more as I was spending it, but was well under what is safe for my portfolio.

Next year I've given myself a floor and a ceiling - spend at least 1.7% and no more than 3.3%, which is my 100% success rate in Firecalc with no pensions. I don't want to be the richest person in the cemetery!
Lagniappe is offline   Reply With Quote
Old 12-29-2020, 12:51 PM   #50
Thinks s/he gets paid by the post
 
Join Date: Sep 2006
Posts: 1,396
Quote:
Originally Posted by Lagniappe View Post
In 2019, I spent 1.45% of assets
I assume you mean your retirement savings, not assets? If you own real estate that is an asset, do you include that in your calculation?
JustCurious is offline   Reply With Quote
Old 12-29-2020, 12:59 PM   #51
Recycles dryer sheets
Lagniappe's Avatar
 
Join Date: Mar 2006
Posts: 390
Quote:
Originally Posted by JustCurious View Post
I assume you mean your retirement savings, not assets? If you own real estate that is an asset, do you include that in your calculation?
I meant of my portfolio.

I don't count real estate or pension assets in my calculations.
Lagniappe is offline   Reply With Quote
Old 12-29-2020, 01:00 PM   #52
Thinks s/he gets paid by the post
 
Join Date: Sep 2002
Posts: 1,056
Iíll crunch the numbers in a couple of days but what is standing out is all that extra cash everyone has on the sidelines. Things get back fairly normal and it could be wide open
JDARNELL is offline   Reply With Quote
Old 12-29-2020, 01:03 PM   #53
Thinks s/he gets paid by the post
 
Join Date: Sep 2006
Posts: 1,396
Quote:
Originally Posted by JDARNELL View Post
I’ll crunch the numbers in a couple of days but what is standing out is all that extra cash everyone has on the sidelines. Things get back fairly normal and it could be wide open
Yes, I think there is a lot of pent up demand that will burst next year, especially for entertainment and travel. I think that's why the stock market is up for the year despite Covid, the market looks ahead 6-12 months.
JustCurious is offline   Reply With Quote
Old 12-29-2020, 01:11 PM   #54
Recycles dryer sheets
 
Join Date: Jul 2016
Location: gypsy traveller
Posts: 473
We spent 87% of the 2019 amount in 2020. Less travel than planned, though we did still get out. Higher medical costs offset some of the travel savings.
HarveyS is offline   Reply With Quote
Old 12-29-2020, 01:27 PM   #55
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
ExFlyBoy5's Avatar
 
Join Date: May 2013
Location: ATL --> Flyover Country
Posts: 6,388
Quote:
Originally Posted by JustCurious View Post
Y I think that's why the stock market is up for the year despite Covid, the market looks ahead 6-12 months.
Although I am no expert, it seems like most of the latest investments have come from "new to the market" investors...like the 13+ MILLION that are using Robinhood for the first time this year. That coupled with valuations that are really...well...CRAZY...I don't think the market knows what it is doing tomorrow, let alone in 6-12 months.
__________________
FIRE'd in 2014 @ 40 Years Old
Professional Retiree
ExFlyBoy5 is online now   Reply With Quote
Old 12-29-2020, 01:47 PM   #56
Confused about dryer sheets
 
Join Date: Mar 2019
Location: Minnesota
Posts: 7
Automobile3,018.97
Bank Charges224.67
Clothing34.99
Education14.97
Food6,173.41
Furnishings613.13
Gifts415.07
Housing827.12
Insurance3,281.63
Interest Expense5,137.19
Leisure11,903.50
Miscellaneous53.42
Personal Care34.00
Pets40.66
Taxes10,311.50
Utilities2,250.05
Vacation1,084.06
TOTAL OUTFLOWS45,418.34

33% less spending than last year.
RockyMNHiker is offline   Reply With Quote
Old 12-29-2020, 02:06 PM   #57
Recycles dryer sheets
 
Join Date: Mar 2012
Posts: 386
Spent within 3% of last years number. Taxes were up (Did some larger Roth conversions in March when the market was down) also raised a little cash in the 3rd quarter in the taxable account. Travel & Entertainment was lower. Everything else was in-line.
__________________
FIRE'd---4/27/2018 @ 54. DW--RE date 03/01/19.
tdv2 is offline   Reply With Quote
Old 12-29-2020, 03:22 PM   #58
Thinks s/he gets paid by the post
jollystomper's Avatar
 
Join Date: Apr 2012
Posts: 4,757
For the two of us, 2020 spending will come in a little over $102K. It is 30% less than last year. Even if we had spent what we planned on vacation, it would still be about 15% less than last year.

Our top ten categories. They accounted for 90% of our spending:

Taxes25,435Fed, State, Local, Property
Medical15,434Premiums, doctor/lab out of pocket, medicine, supplies, etc.
Charity12,245Stuff that is tax deductible
Gifts11,538Family/friends weddings, pandemic assistance, Christmas/Holiday/Birthday/other gifts
Groceries6,677Includes items bought for meals DW cooked for others
Mortgage payments5,720Now paid off, woo hoo!
Auto related5,041maintenance, repairs, gas,insurance, fees, etc.)
Utilities4,205Electric, Cable TV, Internet
Household2,744supplies, repairs, maintenance
Recreation2,422Gym, golf, bowling, etc.
  
In 2019 Vacation expenses were the 2nd highest expense after taxes, this year it was a big fat zero. It dropped out and Recreation moved into the top 10.

Compared to our income we actually were savers this year. Gotta do a better job of blowing that dough .
__________________
FIREd date: June 26, 2018 - "This Happy Feeling, Going Round and Round!" (GQ)
jollystomper is offline   Reply With Quote
Old 12-29-2020, 04:06 PM   #59
Recycles dryer sheets
 
Join Date: Mar 2007
Posts: 57
We spent about 10% less than 2019. Like most others, our travel expenses accounted for the difference. Hopefully will be able to make up for it in 2021.
Happy New Year!!!
freddyw is offline   Reply With Quote
Old 12-29-2020, 04:23 PM   #60
Thinks s/he gets paid by the post
 
Join Date: Jun 2002
Posts: 1,518
Quote:
Originally Posted by RobbieB View Post
Don't have a clue and don't want to find out either. Best left unknown and never spoken of.
Thatís how I feel. Pension and SS come in; expenses go out. Excess gets saved. More saved this year than last so that must mean we spent less. No travel nor dinners out after Feb and no major purchases. No gym dues, no plays, no ball games. Iíd be happy to spend more in Ď21.
__________________
friar1610
friar1610 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
2019 Spending Summary and Analysis W2R FIRE and Money 196 01-11-2020 08:44 PM
2018 Spending Summary and Analysis W2R FIRE and Money 224 03-13-2019 12:31 PM
2017 Spending Summary and Analysis W2R FIRE and Money 246 01-24-2018 07:11 AM
Vanguard Retirement Analysis vs. 4% withdrawal analysis familyretired FIRE and Money 3 08-26-2005 02:33 AM

» Quick Links

 
All times are GMT -6. The time now is 01:59 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2022, vBulletin Solutions, Inc.