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View Poll Results: What was, or is, your planning number for monthly after tax expenditures?
2000 - 2999 15 6.15%
3000 - 3999 21 8.61%
4000 - 4999 41 16.80%
5000 - 5999 40 16.39%
6000 - 6999 25 10.25%
7000 - 7999 27 11.07%
8000 - 8999 21 8.61%
9000 - 9999 9 3.69%
10,000 - 11,999 16 6.56%
12,000 - 13,999 13 5.33%
more than 14,000 16 6.56%
Voters: 244. You may not vote on this poll

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Old 05-06-2017, 09:30 AM   #41
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I've been spending way too much on one of my hobbies lately...still on a withdrawal rate of a bit under 3% of investable assets (not including the homes and the RV), but still feel like I'm spending too much in one area. Someone suggested investing in precious metals on another thread...that's what I've been doing, since my main hobby at the moment is one that I could not have when I lived overseas...yes, I'm investing in lead, because here in California I'll be required to have a license to do so from next year. That's a political topic I dont want to get into, but for now, that's where a bunch of money has gone. What I'd like to do is stop that investment, and start saving up for a small camper...spend 10 days a month in the mountains from May-Sept...spending time in nature will slow down the spending and improve my mental state. (We have a huge RV, that can't get into campgrounds I like, but which is great for cross country rv trips).
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Old 05-06-2017, 09:55 AM   #42
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Our planned after tax spending for retirement will be about $5700/month which includes retiree medical premiums. These premiums should decrease at age 65 when Medicare becomes primary and retiree medical becomes a supplemental policy.

Also, mortgage will be paid off about the same time, a $700/month decrease in expenses. That should help offset inflation a bit.
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Old 05-06-2017, 10:20 AM   #43
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Our spending went down dramatically at retirement, mainly due to: payroll tax, income tax, paid off the mortgage, and both kids out of college and off our insurance, cell phone plan, etc. We had comparatively minor reductions for work-related stuff like commuting, clothes, and dry cleaning. And then I spent the first year reducing some ongoing expenses like: cutting the cable, MVNO for cell phones, shopping around for insurance, services we now have time to do ourselves, cash-back credit cards, etc.

We're spending more on health insurance, but we both get employer subsidies, so it didn't go up all that much. We also travel more, but we travel cheaper since we can go at non-peak times and take advantage of last-minute deals. We also spend more on hobbies and home improvements, but that's 100% discretionary and will slow down as we work through the backlog. So net all that out, and compared to pre-ER, total spending is down sharply. If you eliminate the big discrete items like income tax, paying off the mortgage, and college, the rest is about flat or up slightly.

The original spend plan was a bit higher than what we're actually spending mainly due to income taxes and the reductions in ongoing expenses that I mentioned, like cable. We also aren't traveling quite as much as planned due to caring for the in-laws.
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Old 05-06-2017, 02:01 PM   #44
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Quote:
Originally Posted by tmm99 View Post
I imagine some are answering per individual, and some per household? These polls (or the results) always confuse me...
I expect most people answered by household.
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Old 05-06-2017, 02:16 PM   #45
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I'm currently doing a dry run @$5,000 per month. This includes a $2700 mo mortgage payment which will be gone when retired. It doesn't include infrequent large expenses like vacations, educations, cars etc. So far we are net positive on the $5k per month spend. So I voted on $5K per month, but anticipate having over $10K available without touching principle.
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Old 05-06-2017, 02:17 PM   #46
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You are wealthy.

If you ever start comparing yourself to the Joneses and start to feel poor, just expand your comparison to the entire world and all of time. You'll realize that we are all in a time and place that puts us among the select few.
Here's the site to do exactly that: Global Rich List

On a global scale virtually every member of this board is easily within the 1%.
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Old 05-06-2017, 02:18 PM   #47
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I do not have a planned spending rate. We just spend and pay the CC bills when they arrive. Generally <5K.
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Old 05-06-2017, 02:48 PM   #48
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Here's the site to do exactly that: Global Rich List

On a global scale virtually every member of this board is easily within the 1%.
That was enlightening.
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Old 05-06-2017, 04:52 PM   #49
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We're currently spending about 5000-6000/month including taxes and a Euro vacation (biking/hiking) for us and the youngest DS.
DW still works and I work about 1/3-1/2 time online, but I've budgeted another 1-2k/month for additional travel when DW retires. There is a lot of fat there that could be trimmed if necessary--about 1/3 to 40%. We also support my AgedP, which won't continue forever. We wrote a check to pay off the mortgage, so that goes away.
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Old 05-06-2017, 04:57 PM   #50
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About what we spent while working. The money we no longer spend on work-related stuff is now spent on hobbies and travel.
Ditto. DW is still w*rking, but our plans all along was to maintain our lifestyle after my ER......and also when she calls it quits.
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Old 05-06-2017, 05:28 PM   #51
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We take out 4% and spend it. So with military pension it's about $8600/mo. When my 97 year old father passes we should be able to add about $2000/mo to the total. Plan to do a lot of traveling while we can. Can't take it with you.
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Old 05-06-2017, 05:36 PM   #52
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Well... I screwed up my answer - (or the poll title changed)... because I answered gross, not net... and I answered for household (of 4).

But ReWahoo's answer accurately captures it for me - about what I spent when I was working. (Not including savings/investing in my spending). That was my goal - to not have to downgrade my lifestyle or feel pinched. My health insurance went up but FICA taxes went away.
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Old 05-06-2017, 05:40 PM   #53
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I was planning on a low number so that's what I voted for.

After the fact I'm living much larger than I planned.
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Old 05-06-2017, 05:55 PM   #54
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Originally Posted by JeffInSeattle View Post

To be clear, it's the amount you think that's adequate to provide security and happiness throughout retirement. Don't include dollars going into a savings account, I am interested in the number that will support your basic living costs, fun money, travel, medical insurance, food, etc etc etc.
Providing adequate security numbers (e.g. the basic living, medical, food, expenses, etc) is easy and is very consistent from month to month. It's the fun and happiness numbers that makes it a difficult question to answer. Recently, some months it seems like 5k is enough but then a few months have been in the 50 to 60k range. Hobbies and travel can really drive up the cost! That really screws up my yearly averages.
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Old 05-06-2017, 06:45 PM   #55
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About 30-40% more than when working. I would spend/gift as much as the portfolio generates.
That's my plan too. Adding 40% to my pre-retirement actual monthly spend still leaves us well below what FIREcalc tells us we could spend, and almost at 3% SWR. That said, one can never be 100% certain of success, so we have -10% (reduction) and -25% (austerity) spending plans in-place AND agreed-upon. As of July, it switches from "plan" to "reality"...
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Old 05-06-2017, 06:56 PM   #56
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I am alone and need very little money to get everything I want. I spend about 1,500 a month on basic food, clothing and shelter. So with transportation and other things living on 2-3K a month is easy. Investments made 110K last year and 75K so far this year so I am spending more on medical and dental than planned. I don't have a lot of wants.
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Old 05-07-2017, 07:35 AM   #57
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That's my plan too. Adding 40% to my pre-retirement actual monthly spend still leaves us well below what FIREcalc tells us we could spend, and almost at 3% SWR. That said, one can never be 100% certain of success, so we have -10% (reduction) and -25% (austerity) spending plans in-place AND agreed-upon. As of July, it switches from "plan" to "reality"...
I have been retired for almost 11 years and have generally just spent divs. The portfolio has done very well so I'm starting to liquidate small amounts of stock and boost our spending/gifting. Best to start out conservatively then adjust if things go well.
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Old 05-07-2017, 07:43 AM   #58
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I imagine some are answering per individual, and some per household? These polls (or the results) always confuse me...
"Two can live as cheaply as one...

... for half as long"
--- Anon.

Just joking. A couple usuually spends less than two individuals, as much of the cost can be shared.

The above said, it is often that a single man can be more frugal than a married man. It's my perception, but I could be wrong.
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Old 05-07-2017, 07:53 AM   #59
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"Two can live as cheaply as one...

... for half as long"
--- Anon.

Just joking. A couple usuually spends less than two individuals, as much of the cost can be shared.

The above said, it is often that a single man can be more frugal than a married man. It's my perception, but I could be wrong.
I do believe a couple ends up spending less than two individuals since a couple can share resources (no need for two microwaves or separate living rooms, etc) although a couple cannot live as cheaply as one single person. The reason I said that this kind of poll confuses me is because some people voting are single vs some people voting have a family of 4. So as long as I look at the result of the poll with that understanding, I am good. (I wonder if the lower end numbers are voted by single people?)

As for a single man vs a married man, my old boss said single men carry a lot of cash in their wallets while married men carry only like $20 in their wallets... He said he proved this by asking a bunch of his friends, so it's nothing scientific - It just means his friends all of a sudden become short of cash once they marry.
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Old 05-07-2017, 08:30 AM   #60
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Upon a bit of reflection, I think that single men can go to the extreme in both directions, as they do not have a mate to temper their tendency.

About what you wrote above, it may be that single men have more disposable income and do not have to account for anything to anybody, hence carry a lot of cash. My son for example spends a lot of money on his hobbies. He already says he is never going to get married.
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