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12-29-2020, 10:26 AM
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#41
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2011
Posts: 8,368
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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
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12-29-2020, 10:31 AM
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#42
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2015
Posts: 5,862
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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.
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12-29-2020, 10:41 AM
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#43
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Thinks s/he gets paid by the post
Join Date: Jul 2011
Location: Reading, MA
Posts: 1,798
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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...
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12-29-2020, 11:18 AM
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#44
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2010
Posts: 5,912
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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.
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12-29-2020, 11:18 AM
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#45
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2013
Location: ATL --> Flyover Country
Posts: 6,649
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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
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12-29-2020, 11:20 AM
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#46
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Thinks s/he gets paid by the post
Join Date: Feb 2016
Location: SoCal
Posts: 1,293
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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.
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12-29-2020, 11:20 AM
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#47
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Recycles dryer sheets
Join Date: May 2006
Location: Vienna
Posts: 226
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We spent about 15% less this year, primarily due to no travel expenses. No live dance events probably saved another 2.5K.
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12-29-2020, 11:37 AM
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#48
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Thinks s/he gets paid by the post
Join Date: Sep 2006
Posts: 1,396
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2020 is not over, but so far my 2020 spending is 70% of my 2019 spending. The biggest reduction was travel.
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12-29-2020, 11:42 AM
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#49
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Recycles dryer sheets
Join Date: Mar 2006
Posts: 406
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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!
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12-29-2020, 11:51 AM
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#50
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Thinks s/he gets paid by the post
Join Date: Sep 2006
Posts: 1,396
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Quote:
Originally Posted by Lagniappe
In 2019, I spent 1.45% of assets
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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?
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12-29-2020, 11:59 AM
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#51
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Recycles dryer sheets
Join Date: Mar 2006
Posts: 406
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Quote:
Originally Posted by JustCurious
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?
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I meant of my portfolio.
I don't count real estate or pension assets in my calculations.
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12-29-2020, 12:00 PM
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#52
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Thinks s/he gets paid by the post
Join Date: Sep 2002
Posts: 1,178
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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
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12-29-2020, 12:03 PM
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#53
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Thinks s/he gets paid by the post
Join Date: Sep 2006
Posts: 1,396
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Quote:
Originally Posted by JDARNELL
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
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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.
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12-29-2020, 12:11 PM
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#54
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Full time employment: Posting here.
Join Date: Jul 2016
Location: gypsy traveller
Posts: 683
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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.
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12-29-2020, 12:27 PM
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#55
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2013
Location: ATL --> Flyover Country
Posts: 6,649
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Quote:
Originally Posted by JustCurious
Y I think that's why the stock market is up for the year despite Covid, the market looks ahead 6-12 months.
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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
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12-29-2020, 12:47 PM
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#56
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Confused about dryer sheets
Join Date: Mar 2019
Location: Minnesota
Posts: 7
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Automobile | 3,018.97 | Bank Charges | 224.67 | Clothing | 34.99 | Education | 14.97 | Food | 6,173.41 | Furnishings | 613.13 | Gifts | 415.07 | Housing | 827.12 | Insurance | 3,281.63 | Interest Expense | 5,137.19 | Leisure | 11,903.50 | Miscellaneous | 53.42 | Personal Care | 34.00 | Pets | 40.66 | Taxes | 10,311.50 | Utilities | 2,250.05 | Vacation | 1,084.06 | TOTAL OUTFLOWS | 45,418.34 |
33% less spending than last year.
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12-29-2020, 01:06 PM
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#57
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Recycles dryer sheets
Join Date: Mar 2012
Posts: 388
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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.
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12-29-2020, 02:22 PM
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#58
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2012
Posts: 6,180
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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:
Taxes | 25,435 | Fed, State, Local, Property | Medical | 15,434 | Premiums, doctor/lab out of pocket, medicine, supplies, etc. | Charity | 12,245 | Stuff that is tax deductible | Gifts | 11,538 | Family/friends weddings, pandemic assistance, Christmas/Holiday/Birthday/other gifts | Groceries | 6,677 | Includes items bought for meals DW cooked for others | Mortgage payments | 5,720 | Now paid off, woo hoo! | Auto related | 5,041 | maintenance, repairs, gas,insurance, fees, etc.) | Utilities | 4,205 | Electric, Cable TV, Internet | Household | 2,744 | supplies, repairs, maintenance | Recreation | 2,422 | Gym, 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)
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12-29-2020, 03:06 PM
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#59
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Recycles dryer sheets
Join Date: Mar 2007
Posts: 61
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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!!!
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12-29-2020, 03:23 PM
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#60
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Thinks s/he gets paid by the post
Join Date: Jun 2002
Posts: 1,637
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Quote:
Originally Posted by RobbieB
Don't have a clue and don't want to find out either. Best left unknown and never spoken of.
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That’s 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. I’d be happy to spend more in ‘21.
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friar1610
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