Unplanned, Unavoidable Expenses this year

[tmm99]

I think stars aligned for this year to be a spendy year for us...

New roof (shingles flying off during a wind storm), a new fridge (old one broke), a new laptop (old one broke), a new car (old one broke, bought a 2017 car), and finally getting our wills drawn (getting close to being done.)

Seriously, all those unexpected but necessary expenses do not usually happen in the same year, but this year they did. I'm glad 2021 is almost over!

Yes, everyone should take into consideration that this could happen to them too and plan accordingly. Our expenses are relatively low every year (less than 3% WR although it will be slightly higher this year), so we can absorb this without any issues, so that's a good thing.

[marko]

On Jan 1,2020, DW and I had zero plans for any big expenses.

By March we decided that we needed to sell our forever home (neighborhood quality of life issues) and coupled to not knowing how bad Covid would be, decided to move quickly:

$11K to reno the bath to prep for sale (we had spent $40K on a new kitchen the year before)
$2K for house/attic/basement cleanout
$3K for asbestos mitigation
$6K for movers (had to store our stuff while the new house was being built, so two moves)
$14K for AirBnb because the house we were building wasn't ready for 4 months
$10K for deposits on two cars because our car leases were up
$6K for crowns, posts, etc for two of us
$8K for new appliances for the new house ( it came with some things)
$2K for 90th birthday party for mom
and......$150K to make up the difference between the sale of our old house and the cost of our new one.

Quite a year.

And now, with the "fine tuning" of the new house we've spent another $60K in 2021. New patio, new furniture, landscaping, irrigation, $8K for window shades! etc.

[PaunchyPirate]

I have had a very predictable 2021. So far and knock on wood. Probably less than $2500 in unexpected spending. And $1750 of that was to address buyer’s financing requirements for a second home I was selling. I spent a lot more on optional things this year (like painting the house), but those were of my own choosing.

[ohiodep]

Son totaled our minivan and the used replacement cost $15,000 more than our insurance payout. (and now the unforeseen 3 years of higher insurance premiums.....)

Wife and son's dental work over $2k for the year.

It's just money, right?

[MC Rider]

Quote:

Originally Posted by Sunset I saw a neighbor do this, and I can't understand why it was necessary Maybe the 3rd thing is Alzheimer

It's a 1956 house and when they removed the 2 layers of comp shingles on top and the layer of original wood shingles, all that was left was narrow boards with spaces between them. So, no choice but to do plywood first. The roof was I think 24 squares. Hard to believe they built it that way, but from what I have seen it was typical back then.



@Joewras


How's that radiant barrier OSB working for you? I'm considering something similar.


The radiant barrier is what looks like a layer of aluminum foil on the bottom side of the plywood sheets. I think this may be required here, but not sure. It is supposed to provide insulation. Hard to say how well it works. I don't live in the attic. But it can't hurt. I should probably insulate the attic too.

[RobbieB]

Oh yeah!

Blown in rockwool is cheap too and quick, be done in a few hours.

[MC Rider]

Quote:

Originally Posted by RobbieB Oh yeah! Blown in rockwool is cheap too and quick, be done in a few hours.

Also would hide the wood splinters and other debris from the roof tear off.

[NW-Bound]

On Jan 4th, we went out to buy a new vehicle and paid cash. Self-inflicted, and not totally unplanned, but it was somewhat on a whim. It turned out to be a good move, as we enjoy the car, and would have to pay more now due to the car shortage.

Other than that, nothing much to talk about. Take out the car purchase, and 2021 sees the lowest annual expense ever since I started tracking expenses in 2010.

Boy, I am deeply down the Bernicke slope, I am about to hit bottom on the spending scale due to no travel.

I don't see how I am going to spend less, despite the statistics showing that "spending needs at age 75 are 33% less than at age 65". I am already spending as if I were 75.

[aja8888]

Quote:

Originally Posted by NW-Bound I don't see how I am going to spend less, despite the statistics showing that "spending needs at age 75 are 33% less than at age 65". I am already spending as if I were 75.

If you two are still healthy at 75, don't believe spending will be that much less.

[2017ish]

Quote:

Originally Posted by Scrapr It all started with good intentions. SO & I were at an charity auction. Attendance was about 25% of normal because Covid. As the auction is starting I tell SO I am just going to paddle raise for $5k and be done. She says why don't you get something for it? So I start in on a whiskey basket. Probably 15 bottles, plus cigars and other stuff. Bidding starts getting heated with one other bidder as I pass the $5k mark. I finally win at somewhere north of 5.5k. Great! Take the bottles home & literally no place to store or display them. One of the bedrooms has a closet plumbed for a wet bar. Hey! Let's just pop in a wet bar. Cabinet, plumbing, electrical & granite top....and since you have to buy a full slab may as well do the extra bath nearby. And sinks & faucets. Plus furniture! Aiyiyi. Good thing the market is kind

Love it! I can see that happening here. Hopefully, you'll have many years to enjoy the new wet bar and bathroom. (And, of course, the whiskey as well!)

[Sunset]

Quote:

Originally Posted by MC Rider It's a 1956 house and when they removed the 2 layers of comp shingles on top and the layer of original wood shingles, all that was left was narrow boards with spaces between them. So, no choice but to do plywood first. The roof was I think 24 squares. Hard to believe they built it that way, but from what I have seen it was typical back then. .......

I have a 100+ yr old summer house, it's roof is the board roof. Standard in the old days especially prior to plywood.
It has one advantage: Should a board rot, it means replacement of very little wood which is cheaper.

But it has a big disadvantage, it provides little diagonal stability to the roof, so the plywood replacement will make the roof and building stronger in terms of twisting.
There is also the issue of when nailing, one has to be very concious of the gaps between boards, not something a person with a power stapler/nailer wishes to do.

[SecondAttempt]

Had a windstorm like no others I've experienced in Hawaii Sunday afternoon. Probably 0-80 mph gusts. Lots of fallen trees that I will probably have to pay to have removed fairly quickly. That might not be super expensive though. But my catchment tank took a direct hit and is badly damaged. Plus, no power for 2+ days has me think a generator might be advisable - big enough to power the catchment system and house, about $5k. No decision yet though. Unusual event but very disruptive not to have power and water for days. Others may be used to such things every few years.

[Dtail]

Quote:

Originally Posted by aja8888 If you two are still healthy at 75, don't believe spending will be that much less.

Just one reason why I am not a fan of the Bernicke retirement spending model.

[Markola]

On the bright side, wouldn’t we all rather have these major, unexpected expenses happen when securities’ prices are so richly-valued?

[freedomatlast]

Quote:

Originally Posted by MC Rider The radiant barrier is what looks like a layer of aluminum foil on the bottom side of the plywood sheets. I think this may be required here, but not sure. It is supposed to provide insulation. Hard to say how well it works. I don't live in the attic. But it can't hurt. I should probably insulate the attic too.

At first glance, I can't see how this is a good idea. Wood needs to be able to breathe to prevent rot and mold. Even with a well ventilated attic, moisture can form just from daily temperature changes combined with ambient humidity. In addition, if there was a chance the wood would get slightly damp, it seems the seal created by the aluminum barrier would accelerate the degradation and rotting of the plywood.

Seems like a moderate risk and extra expense as compared to some relatively small benefit in insulating properties.

[JoeWras]

Quote:

Originally Posted by freedomatlast At first glance, I can't see how this is a good idea. Wood needs to be able to breathe to prevent rot and mold. Even with a well ventilated attic, moisture can form just from daily temperature changes combined with ambient humidity. In addition, if there was a chance the wood would get slightly damp, it seems the seal created by the aluminum barrier would accelerate the degradation and rotting of the plywood. Seems like a moderate risk and extra expense as compared to some relatively small benefit in insulating properties.

I think some brands have perforations in the foil.

Still, I think I'm going to avoid this in the southeast. Just too much moisture here. For OP's Reseda residence, it likely makes more sense. It is a much milder, drier climate.

[Exchme]

We had an All-Season year for unexpected expenses.

We started with Winter damage from the Texas Freeze, inflation caused prices to Spring up all over, more damage from a Summer storm and then medical bills from a Fall.

Sorry to make you read that.

[GravitySucks]

$5,000 to have the concrete slab patio replaced and the porch foundation shored up. Old slab sank and rain run off was going under the porch and towards the house.
Can't say it was completely unplanned. Part expected upkeep.

[REWahoo]

Quote:

Originally Posted by Exchme We had an All-Season year for unexpected expenses. We started with Winter damage from the Texas Freeze, inflation caused prices to Spring up all over, more damage from a Summer storm and then medical bills from a Fall. Sorry to make you read that.

A tough year but you apparently weathered it OK.

[Sunset]

Quote:

Originally Posted by SecondAttempt Had a windstorm like no others I've experienced in Hawaii Sunday afternoon. Probably 0-80 mph gusts. Lots of fallen trees that I will probably have to pay to have removed fairly quickly. That might not be super expensive though. But my catchment tank took a direct hit and is badly damaged. Plus, no power for 2+ days has me think a generator might be advisable - big enough to power the catchment system and house, about $5k. No decision yet though. Unusual event but very disruptive not to have power and water for days. Others may be used to such things every few years.

Because it's such a rare event, at most I'd go with a large portable generator which would be ~$1K and the transfer switch on the fuse/breaker box.

I bought a generator many years ago after a rare power outage with heavy rains. It has sat in my garage unused for about 10 yrs now....
So glad I didn't get a whole house generator, which costs $10K plus few hundred per year, plus weekly starting.