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Old 07-22-2021, 10:36 AM   #21
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This is our annual spend from 2010 to 2020 on the base budget. Can you tell when we read the book The Millionaire Next Door?
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Old 07-22-2021, 10:42 AM   #22
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One of you read MND..you won't find anybody in those pages blowing 600 a month on clothes..that's a car payment
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Old 07-22-2021, 10:47 AM   #23
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When the brackets holding the top rail (12' long) in our master bedroom closet ripped out of the wall that held DW's "collection" of clothes going back to 1976 happened, we had a heart to heart conversation on the contents of the closet(s).

That rail that fell down was one of the three that are in that closet holding her clothes. She has clothes in the other bedroom and hall closets. My clothes are on a 4' long section of the lower closet rail.

After many trips to Goodwill, and boxes of her clothes sent to grown nieces, we have the problem managed.

And it was amazing to her to find several NEW tops, shorts, dresses, etc that she had that still had the tags still on them and were never worn (and they are not going to worn anytime soon).

Case closed. Limited buying of clothing for the lady of the house that is handicapped (and pushing a walker) and only goes out in public to dine or to Bible Class once per week.

I have a thread on this issue somewhere here.

Good luck to you corn18.
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Old 07-22-2021, 10:49 AM   #24
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One of you read MND..you won't find anybody in those pages blowing 600 a month on clothes..that's a car payment
So what? I often wonder why people that have a 1% WR don't spend more. Or give it away. You do you, I'll do me.
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Old 07-22-2021, 10:51 AM   #25
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This is our annual spend from 2010 to 2020 on the base budget. Can you tell when we read the book The Millionaire Next Door?
We are still at the top of your graph and not about to slow down. Maybe I my husband needs to read the book. Nah, he won't.
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Old 07-22-2021, 10:51 AM   #26
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Why are you posting about then. Your thread title is like you tube click bait
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Old 07-22-2021, 10:53 AM   #27
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$7200 is even a lot for a clothes-conscious woman, such as moi. Not if jewelry is included, though. Or if she wears $800 shoes.

And then there are all the other things some women feel they need to do with their appearance, such as $250 every few weeks for color, megabucks for hair extensions, BOTOX injections, etc etc. So...next to that, $7200 for clothes doesn't sound like so much.

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Wow, $600 a month on clothes? I don't spend $400 a year on clothes with most of that being on running gear. Of course, you indicate none of that was on clothes for you. Being a single guy I just cannot relate to $7200 a year on clothes for one person......maybe that's why I'm single?
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Old 07-22-2021, 10:53 AM   #28
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Why are you posting about then. Your thread title is like you tube click bait
I guess we can't share stuff on ER.org? Move on. You are bitter about something.
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Old 07-22-2021, 10:54 AM   #29
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Ok so let's get over "she spends WHAT on clothes?" because it's really not the point. And it's super easy to complain about the spouse who isn't here asking the question with no way to defend themselves....

You have a history of spending X per month on things, but for some reason set a budget of spending X-20% - that's a recipe for a failure unless both of you are aligned with that goal and have a specific way to get there.

It's like saying I'm going to run faster. Sure I'd like to, but I'd need to train to do it. I'd also have to give up some free time and probably spend more on running shoes - something would have to give, I can't just say I will run faster in a vacuum.

I'd like to spend less on groceries, but I like fresh meats and quality items and I'm not prepared to clip every coupon and drive around for every sale.

Your best bet is to reset your budget to base it on actuals. I think that's what most of us would recommend (before you retire). You have been here for a while so you've seen the Can I retire threads - we don't ask what your budget is, we ask what your expenses are. Big difference. Your budget wasn't based on reality.
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Old 07-22-2021, 10:55 AM   #30
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OP - Pray that you don't have to move.

All those clothes seems pretty excessive for a retired person.

We have been cleaning out a home of a cheap, hardly buy anything fellow, and we found boxes of
  • packages of socks,
  • packages of underwear,
  • packages of undershirts,
  • unopened shirts,
  • jackets and coats with sales tags still on them.
  • new shoes in the shoe boxes (nike, etc).
They were probably gifts that never got used as he already had enough in the drawers.

I have spent an avg of $200 /yr on clothes, trying to decrease my closet mountain
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Old 07-22-2021, 10:56 AM   #31
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Ok so let's get over "she spends WHAT on clothes?" because it's really not the point. And it's super easy to complain about the spouse who isn't here asking the question with no way to defend themselves....

You have a history of spending X per month on things, but for some reason set a budget of spending X-20% - that's a recipe for a failure unless both of you are aligned with that goal and have a specific way to get there.

It's like saying I'm going to run faster. Sure I'd like to, but I'd need to train to do it. I'd also have to give up some free time and probably spend more on running shoes - something would have to give, I can't just say I will run faster in a vacuum.

I'd like to spend less on groceries, but I like fresh meats and quality items and I'm not prepared to clip every coupon and drive around for every sale.

Your best bet is to reset your budget to base it on actuals. I think that's what most of us would recommend (before you retire). You have been here for a while so you've seen the Can I retire threads - we don't ask what your budget is, we ask what your expenses are. Big difference. Your budget wasn't based on reality.
Spot on.
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Old 07-22-2021, 10:58 AM   #32
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So what? I often wonder why people that have a 1% WR don't spend more. Or give it away. You do you, I'll do me.
^^^^^ What he says!

We spend about $60K a year on food, groceries and household stuff. Golf runs about $20K a year. Travel is another $25K a year. We are enjoying our retirement and not about to stop soon. I figure when both of us are less mobile, golf will run closer to $5K by occasionally playing at public courses instead of 4 to 5 times a week for each of us at the club. Travel will also drop to $5K or so when we sell off our timeshare and no longer get on plane rides or cruises.
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Old 07-22-2021, 10:58 AM   #33
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Mr. A. used to be the male equivalent. With a great build for clothes and the ability to wear any color, he always bought the very best men's clothing, and kept it literally forever. We donated a whole closet full of fine wool suits when we moved to Florida.

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When the brackets holding the top rail (12' long) in our master bedroom closet ripped out of the wall that held DW's "collection" of clothes going back to 1976 happened, we had a heart to heart conversation on the contents of the closet(s).

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Old 07-22-2021, 11:03 AM   #34
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Mr. A. used to be the male equivalent. With a great build for clothes and the ability to wear any color, he always bought the very best men's clothing, and kept it literally forever. We donated a whole closet full of fine wool suits when we moved to Florida.
OMG! That actually happened last month in our closet. The top rack pulled out of the wall and all the boot boxes came crashing down in the middle of the night. She's going through her closet and thinning the herd.

For those that are married or have an SO, would you make a big deal out of this with your spouse? All she has to say "You spent $2,500 on a telescope, and I like nice/new clothes." Just doesn't seem like a battle that needs to be fought if we can afford it. If either of us has a serious issue with spending, we can and do talk about it and make adjustments.
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Old 07-22-2021, 11:10 AM   #35
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This thread reminds me of the hoarder shows. It's amazing how many of the hoarders on the show have the funds to accumulate so much stuff, until the funds run out, and all they have left is the stuff which has gained so much importance in their lives. We should be careful about this....
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Old 07-22-2021, 11:11 AM   #36
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We only track after tax annual spend. No categories since we only care about the bottom right hand number.

So far, after almost ten years, our back of the envelope projections at that time are bang on.

The big plus is inflation has been lower than we f'cast, investments returns were much higher than we f'cast, and the ten percent we added for just in case was never needed.
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Old 07-22-2021, 11:12 AM   #37
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OMG! That actually happened last month in our closet. The top rack pulled out of the wall and all the boot boxes came crashing down in the middle of the night. She's going through her closet and thinning the herd.

For those that are married or have an SO, would you make a big deal out of this with your spouse? All she has to say "You spent $2,500 on a telescope, and I like nice/new clothes." Just doesn't seem like a battle that needs to be fought if we can afford it. If either of us has a serious issue with spending, we can and do talk about it and make adjustments.
You are right. I would not make a big deal out of it. My husband drinks wine and I don't do alcohol. His wine.com order is about $400 each month. He spends about $200 per month on online games. I spend about $200 per month on golf clothes, shoes, balls and gloves and he spends about half of that on gloves and balls. But he keeps buying new golf clubs, driver change every 6 months to a year at about $500 a driver, and several hundred dollars for individual wedge and putter changes. He wants to enjoy his retirement and we can afford it. So why put stress on the relationship by having a money discussion?
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Old 07-22-2021, 11:20 AM   #38
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As long as she keeps the spend within a budget that you’ve both agreed works and is sustainable, I don’t see what the problem is.

The over flowing closets would personally drive me nuts. I can see having a ‘one comes in, two leave’ until things get under control. But I have a spare closet full of clothes. Most don’t fit and need to be gone through and donated, but for now we have the space and other things have taken priority on time.
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Old 07-22-2021, 11:23 AM   #39
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When I want to cut back, I don't really target certain categories. I keep track of my spending (to the penny) every day, and cut back wherever I can. You are keeping track of your spending too, and that information is a terrific tool in the effort to spend less.

Your clothing budget makes my mind want to explode. I have averaged $26/month on clothes (including shoes) since 2010, and I buy whatever clothes I want and like. This year I bought nothing but 9 bras, last year I bought nothing but bunny slippers. I have lots of my usual "retiree wear", shorts and t-shirts and Teva sandals, mostly bought on sale from Amazon and Lands End several years back. But still, if it is important to you to spend a lot more on clothes than I do, then that is your choice and prerogative! If you don't want to cut back there, then cut back somewhere else. Time to substitute soup or hamburger for steak and lobster, or substitute water for beer or wine, or vacation locally instead of internationally, or something like that. Then once your spending is back on track, you can go get a steak dinner with fine wine in Paris or whatever it is that you eliminated for a while.

It's as simple as that.
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Old 07-22-2021, 11:24 AM   #40
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I sincerely doubt if I spend $400 a year on clothes. I'm happy in retirement to live in jeans and t-shirts, with a dress or two on hand for nice occasions. Really, besides occasional underwear replacement, what more does one need? I remember the days when I used to love new clothes, but I haven't felt that urge in years. I've just pared down closets and given away about 1/2 of my clothes--feels great to have half empty closets.
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