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What are your numbers?
Old 12-01-2016, 05:27 PM   #1
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What are your numbers?

Just wondering what every ones average expense for a month is? We live very modest and simple but we also have what we need and what we want. My expenses since retiring which was April of 2016 my wife went a few years before me is about $3300 a month. I'm 59 and my wife is 60.

Thanks
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Old 12-01-2016, 05:34 PM   #2
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We are planning to take 5K a month after the other half resigns 12/31. Any that we don't spend, will be put into a travel/emergency fund. We average about 4K for spending per month.
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Old 12-01-2016, 05:39 PM   #3
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My expenses have always been under $20K/yr. This year I sold a cheap condo and bought a single family home. My expenses per year starting next year will be somewhere between $20K-25K/yr. That includes everything including state, federal, and FICA taxes that I pay being self employed. It's easy keeping my expenses low because I have a low income so I need to keep expenses low.
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Old 12-01-2016, 05:42 PM   #4
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Here's a thread on 2015 expenses http://www.early-retirement.org/foru...ses-80153.html
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Old 12-01-2016, 06:30 PM   #5
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I don't really have a monthly or annual "number" but instead I track my network worth year to year. My general goal, is to never drop below 25% of my initial retirement net worth. So far, after 5 years, I've stayed within 10% (+ or -) of that inflation adjusted goal/target, as my investments have helped me stay close to even.

I could probably get by comfortably on 70 to 75k a year (if I were to cut out my expensive hobbies) but that's not going to happen as long as I'm able to get around reasonably well.
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Old 12-01-2016, 06:35 PM   #6
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We need $7K per month for the two of us. I guess it's a Southern California thing.
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Old 12-01-2016, 06:47 PM   #7
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I RE in 4 months and am targeting $7K/mo including travel. We could certainly survive on less.
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Old 12-01-2016, 06:55 PM   #8
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There's just one of me, living in a 1500 sf house in New Orleans.
Here's my average monthly spending by category for the past five years. I prefer not to reveal my spending on income tax or on medical, so those are not included.

Miscellaneous $318
Video games $55
Groceries $248
Restaurants $266
Gasoline $67
Car $161
House $554
Utilities $335
Fitness $98
Clothes $29
Income Tax not telling
Medical not telling
TOTAL $2131 plus income tax and medical
.
Notice there is no "entertainment" category but if you prefer, you could call the restaurant category "entertainment". It's kind of like that. We eat lunch together every day at a cheap mom-n-pop type neighborhood restaurant with reasonably healthy food, and have delightful conversations and fun.
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Old 12-01-2016, 06:59 PM   #9
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Monthly baseline = $5200 which includes 2100 in mortgage, 1400 in income tax prepayments, 500 utilities, and 450 health insurance.
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Old 12-01-2016, 07:03 PM   #10
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Expenses are $2,789/month right now, will drop ~ $800 once I pay off the mortgage though. That doesn't include entertainment/hobbies however.
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Old 12-01-2016, 07:04 PM   #11
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7k per month, all in, is about right for us.

This is our first year in retirement, and I am realizing that taxes (fed, state, personal property, etc) and HI consume about 1/3 of our expenses!

Looking back, it is not different, just now I am looking at it more closely.
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Old 12-01-2016, 07:10 PM   #12
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Quote:
Originally Posted by W2R View Post
There's just one of me, living in a 1500 sf house in New Orleans.
Here's my average monthly spending by category for the past five years. I prefer not to reveal my spending on income tax or on medical, so those are not included.

Miscellaneous $318
Video games $55
Groceries $248
Restaurants $266
Gasoline $67
Car $161
House $554
Utilities $335
Fitness $98
Clothes $29
Income Tax not telling
Medical not telling
TOTAL $2131 plus income tax and medical
.
Notice there is no "entertainment" category but if you prefer, you could call the restaurant category "entertainment". It's kind of like that. We eat lunch together every day at a cheap mom-n-pop type neighborhood restaurant with reasonably healthy food, and have delightful conversations and fun.
Looks like you are having fun, and still living within your means. In my case, your " not telling" costs are over $1,500 per month. So it can be significant.
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Old 12-01-2016, 07:20 PM   #13
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Originally Posted by CardsFan View Post
Looks like you are having fun, and still living within your means. In my case, your " not telling" costs are over $1,500 per month. So it can be significant.
Exactly! Those can differ so much depending on circumstances beyond our control. Some have Medicare, some don't and have insanely high medical insurance costs. Some have awful dental expenses due to bad teeth and no dental insurance, and then there are those with "Tom Cruise teeth" that probably never had a cavity in their lives. Some have decided to accept artificially high income taxes in order to spend from tax sheltered accounts now before RMD's kick in. Others may prefer to be taxed more later.
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Old 12-01-2016, 07:25 PM   #14
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Total annual Expenses (Not including stuff like buying a car or house upgrades but including normal but not necessarily frequently purchased things like paint for the deck, tires for the car, and such, a trip if I feel like taking one etc)

1999 (Oldest numbers I have): $14,856.61

2015: $15,398.07
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Old 12-01-2016, 07:32 PM   #15
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Less than $1500/month. About 40% of that is property tax and insurances.
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Old 12-01-2016, 07:34 PM   #16
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About $7k per month, including vacation travel. About $6k per month without. Property tax is our biggest single line item, at $1.1k per month. We have no mortgage.
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Old 12-01-2016, 07:37 PM   #17
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Quote:
Originally Posted by razztazz View Post
Total annual Expenses (Not including stuff like buying a car or house upgrades but including normal but not necessarily frequently purchased things like paint for the deck, tires for the car, and such, a trip if I feel like taking one etc)

1999 (Oldest numbers I have): $14,856.61

2015: $15,398.07
Thats what I call keeping spending under control. Good job.
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Old 12-01-2016, 07:38 PM   #18
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$6000 a month all in except for travel. No skimping. Good restaurants, good wine. Nice cars (paid for), travel adds about $12,000 a year.
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Old 12-01-2016, 07:39 PM   #19
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My Quicken screen says $68,606 YTD, and we still have one month to go. At least, it looks like it will not be 6 figures this year, like the last 3 years. Having 2 homes costs money to maintain, plus travel. We have no other costly indulgences.
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Old 12-01-2016, 07:41 PM   #20
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Thats what I call keeping spending under control. Good job.
Thanks but I forgot to add I haven't had to buy medical insurance because I am retired military
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