Well, that was a surprise. I looked at some year-end numbers today, and...
2020 was a good year. Huh
Disclaimer: I'm retired and currently getting by on a fixed pension. Obviously many, many people had a horrible year and I feel for them. I have helped where I could.
I budget pretty closely. Most years since retirement I've been within $600 of my budget. 2020 came in WAY under budget because:
- We had the $2,400 stimulus check (2 of us)
- Travel expense were down a little. But really, not much. We travel on our boat, so naturally self-isolate.
- Last year I did a few boat delivery gigs which added a little to the kitty.
(And, as a "transportation worker," I got to travel a bit while everyone else was locked down, plus get paid for it.)
- Someone rear-ended my car and their insurance gave me $1,500 more than it cost to fix.
- Inflation has been low.
All told, just a few $K over budget, but it's welcome news. I worry about inflation forcing me to dip into cash reserves, my 401k or a second (much smaller) pension that I'm holding back, before I'm ready to. The longer I can hold off the better. I'm so far over 100% on FireCalc now that I worry much less.
I have to admit that the timing of the pandemic, despite the awful death and destruction, probably helped me financially. Even my 401k has outperformed. It's been on a strong upward trajectory since 2009.
2020 was a good year. Huh
Disclaimer: I'm retired and currently getting by on a fixed pension. Obviously many, many people had a horrible year and I feel for them. I have helped where I could.
I budget pretty closely. Most years since retirement I've been within $600 of my budget. 2020 came in WAY under budget because:
- We had the $2,400 stimulus check (2 of us)
- Travel expense were down a little. But really, not much. We travel on our boat, so naturally self-isolate.
- Last year I did a few boat delivery gigs which added a little to the kitty.
(And, as a "transportation worker," I got to travel a bit while everyone else was locked down, plus get paid for it.)
- Someone rear-ended my car and their insurance gave me $1,500 more than it cost to fix.
- Inflation has been low.
All told, just a few $K over budget, but it's welcome news. I worry about inflation forcing me to dip into cash reserves, my 401k or a second (much smaller) pension that I'm holding back, before I'm ready to. The longer I can hold off the better. I'm so far over 100% on FireCalc now that I worry much less.
I have to admit that the timing of the pandemic, despite the awful death and destruction, probably helped me financially. Even my 401k has outperformed. It's been on a strong upward trajectory since 2009.