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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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Poll:What was (is) your planned monthly spend rate?
Old 05-05-2017, 12:58 PM   #1
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Poll:What was (is) your planned monthly spend rate?

When you were planning for early retirement (retirees), or are actively planning now (still slaving away), what was (is) your all-in average expected monthly spending? That's obviously a key number in planning. Note, this is not what you are actually spending, but rather the number you used in plannning.

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.

I'm very interested to see the spread; some folks need only 3K a month while others need 15K or more. Should be interesting demographics!

Edit to add - I was looking for the after tax number ... i.e. do NOT include taxes
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Old 05-05-2017, 01:09 PM   #2
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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.
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Old 05-05-2017, 01:13 PM   #3
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Basic expenses are very close to our w*rking years.

Total expenses now OTOH are about 3X that amount. Retirement agrees with us.
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Old 05-05-2017, 01:21 PM   #4
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Funny, I was thinking about doing this very poll/post. Our budget will need to increase as health care costs rise until we are both 65.
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Old 05-05-2017, 01:27 PM   #5
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We spend on average more now than when I was working. DW and I spend a lot more on ourselves now than we ever did before, that's for sure.
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Old 05-05-2017, 01:28 PM   #6
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About the same overall but now will be at least 50% discretionary.
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Old 05-05-2017, 01:33 PM   #7
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Does your poll want us to include taxes in the "all in" number?

We will be spending considerably more post-tax than we have as empty-nesters. Will be less than when we were cash flowing college tuitions though.

Also will be >50% discretionary.
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Old 05-05-2017, 01:37 PM   #8
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Old 05-05-2017, 01:37 PM   #9
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I included taxes - that's part of the cash flow we must account for... Uncle Sam and Auntie State want their $$$.

My number is for a family of 4. I have money outside my retirement plan (529s) for the kids college... so I'm hoping for a little more fun money once the boys stop eating me out of house and home.
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Old 05-05-2017, 01:47 PM   #10
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I was looking for the after tax number ... i.e. do NOT include taxes.

Maybe an admin could add that to my post?

Quote:
Originally Posted by 2017ish View Post
Does your poll want us to include taxes in the "all in" number?

We will be spending considerably more post-tax than we have as empty-nesters. Will be less than when we were cash flowing college tuitions though.

Also will be >50% discretionary.
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Old 05-05-2017, 01:52 PM   #11
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About the same as before I retired. Actually when I retired my net pay went up a little bit mostly because I was maxed out on the 457 (sort of like a 401k) and after the house was paid off about 18 months before retirement we were saving ~49% of our income.
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Old 05-05-2017, 02:09 PM   #12
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I determined my last 3 pre-retirement annual expenses and assumed spending would be roughly the same (plus 3% inflation) in retirement. Some costs going down, some up.
So far that plan seems to be holding up (one year runway only....)
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Old 05-05-2017, 02:19 PM   #13
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10% responding spend more than $14,000 a MONTH? I am much more poorer than I realized!
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Old 05-05-2017, 02:24 PM   #14
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Are up to about 130% of what spent when w__king. Most of that extra is travel and just trying to spend on things we enjoy. Having recently gone on medicare and started SS on DW, we're probably not able to comfortably spend what a safe rate is. But that's ok.
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Old 05-05-2017, 02:45 PM   #15
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About 30-40% more than when working. I would spend/gift as much as the portfolio generates.
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Old 05-05-2017, 02:47 PM   #16
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Projected FIRE date is at about 51ish. At that age, one will be just starting college. Hopefully we'll have another addition to the family, which would mean the new addition would be about 10-11 years old, and still have some years before college. Either way, spending post-FIRE will likely be considerably more than what we currently spend, although we may increase travel and a little splurging now. Excluding educational expenditures, in 10 years maybe $7k/month?
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Old 05-05-2017, 02:50 PM   #17
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In today's dollar, my monthly budget will be 12500, not including tax or one time items, such as house 650k, two private tuition/fee 552k.

37% for travel, 18% for medical, and 17% for housing related.
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Old 05-05-2017, 03:18 PM   #18
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You need to include a choice for less than $2,000 a month. Otherwise, I can't answer your poll.
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Old 05-05-2017, 03:36 PM   #19
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Quote:
Originally Posted by REWahoo View Post
About what we spent while working. The money we no longer spend on work-related stuff is now spent on hobbies and travel.
+1
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Old 05-05-2017, 04:45 PM   #20
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I early retired one year ago and my projected spend, based on my spend while working, has proved pretty accurate. Fortunately my side gigs more than cover it leaving my investments free to grow.
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