What are you spending on?

[Lsbcal]

Here was last year's fun + discretionary stuff:

1k, outdoor house repairs
3k, partial house painting
23k, backyard landscaping
4k, for two road trip vacations on West Coast and Sierras
17k, a one month trip to Italy

This year it is about half of that. All domestic vacations but still doing what we want to do.

Sometimes it's a job just to plan spending. If hiring to do a job one has to do the due diligence and make the decisions about exactly what should be done. If going on a vacation, generally plenty of planning to get what you want. But I'm not complaining.

[Car-Guy]

Quote:

Originally Posted by Cap_Scarlet So here is my question - there seem to be quite a few people on here who expect to spend $100k + in retirement. Assuming we all have different "base" expenses (utilities, taxes, etc) lets ignore those for now. What I am interested in is understanding the discretionary expenses e.g. - Cars and motorbikes - Holidays - Expensive hobbies - Eating out So for the spendthrifts out there - what's your money weakness?

Let's see where do I start. Discretionary expenses/spending since I have retired (almost 5 years now) has been about 400k. Mostly on cars, domestic traveling, gambling and other expensive hobbies. Not necessarily in that order.

Glad I put a pencil to it. Not as bad as I had thought.

[Ronstar]

Travel, entertainment, vacation condo.


Sent from my iPhone (:.using Early Retirement .//82339)

[W2R]

Quote:

Originally Posted by Car-Guy Let's see where do I start. Discretionary expenses/spending since I have retired (almost 5 years now) has been about 400k. Mostly on cars, domestic traveling, gambling and other expensive hobbies. Not necessarily in that order. Glad I put a pencil to it. Not as bad as I had thought.

Gambling? Did you subtract your winnings from what you lost? Hope that balanced it at least somewhat. Then it doesn't count.

[braumeister]

The biggest item is travel. In the old days, it was always the cheapest possible fare, but now that we can afford it, we always fly at least premium economy and on longer flights we go business class. We go to Europe at least twice as much as we used to.

I've also at least doubled my "hobby" travel for things like fly fishing and skiing.

[RockyMtn]

Country Club dues, travel, good wine and liquor are our main splurges.

[Sunset]

Quote:

Originally Posted by RobbieB You made me look - Yeah Baby! Cigars and rum. Imma gonna order up some cigars real soon -

Maybe you want to take your girlfriend to Cuba for a week and buy them locally.
Since the limits were just increased, you could stock up and end up paying the same in total.

[Sunset]

Quote:

Originally Posted by Lsbcal ..... Sometimes it's a job just to plan spending. If hiring to do a job one has to do the due diligence and make the decisions about exactly what should be done. If going on a vacation, generally plenty of planning to get what you want. ....

+ 1

I had this thought yesterday, as I was looking at a cruise to Europe, so much planning, house, mail, grass, bills, .... etc.....

In some ways I'd like to just go to Europe for 6 months, see a ton, and come back, but having a house here is an issue..

As for our splurges, can't really say , as only now tracking spending.
So far it's Fed Taxes

[Car-Guy]

Quote:

Originally Posted by W2R Gambling? Did you subtract your winnings from what you lost? Hope that balanced it at least somewhat. Then it doesn't count.

Yes and sometimes it gets close but it always seems to be negative. The only time I can say that I've made money at the end of the year with casinos, is when I buy their stock. Almost seems like I'm betting against myself when I do that. I've had better luck with sports betting but that's not nearly as much fun.

[W2R]

Quote:

Originally Posted by Car-Guy Yes and sometimes it gets close but it always seems to be negative. The only time I can say that I've made money at the end of the year with casinos, is when I buy their stock. Almost seems like I'm betting against myself when I do that. I've had better luck with sports betting but that's not nearly as much fun.

The casinos are great entertainment, I agree!

We used to have a good one that we thought gave us great odds on the quarter slot machines, and we went there every week or two. But it was completely destroyed after Katrina, vanished really, and was never rebuilt. Odds at other casinos were higher, and we don't like losing nearly as much. So we have only gone to casinos once or twice since 2005.

[RobbieB]

I usually win a little (poker) but not enough to cover the room and the food.

[Rustic23]

Our sinking fund is fully funded, and we have excess funds above what it takes to pay the billa. We spend on what ever suits our fancy. I like having a new car. I figure I have between 10 to 20 years left, and I plan on buying a new car when ever I want, most likely every two to three years. We travel when we want, and next year we calibrate our 50th wedding anniversary and we will through a three day party for our friends and family. I tell the kids we are "spending their money" and we are!

[RE2Boys]

College for boys is the big ticket item that dwarfs all others.

FAFSA says my EFC is six figures. One son in college this year,two next year.

[Car-Guy]

Quote:

Originally Posted by W2R The casinos are great entertainment, I agree! We used to have a good one that we thought gave us great odds on the quarter slot machines, and we went there every week or two. But it was completely destroyed after Katrina, vanished really, and was never rebuilt. Odds at other casinos were higher, and we don't like losing nearly as much. So we have only gone to casinos once or twice since 2005.

Sounds like it was either in Gulfport or Biloxi. I seem to recall about 15 casinos along the Gulf Coast were either badly damaged or totally destroyed by Katrina. I saw some of the pictures from Biloxi shortly after the storm passed where some of the casinos on the Gulf shore (barge type) were picked up and deposited across Hwy 90.

[athena53]

Last year DH and I spent about $16K in travel. This year it will be about 1/3 that because he's seriously ill and we had to cancel our major trip. DH is not expected to survive the year and next year the budget will go up again; I want to get to Australia and NZ and DH, bless him, is happy to see me thinking of my future.

Hobbies: negligible. Same with restaurants and clothes. Our charity budget is actually bigger than our travel budget and that will continue. I can't swill Champagne in the Business Class section of a transatlantic (or transpacific) without sharing some of what I have. If things got tight I'd cut back on both, except travel to see the grandchild, who's only a 3-hour drive away.

[W2R]

Quote:

Originally Posted by Car-Guy Sounds like it was either in Gulfport or Biloxi.

Nope, it was in the eastern part of New Orleans, on the southern shores of Lake Ponchartrain.

Quote:

Originally Posted by Car-Guy I seem to recall about 15 casinos along the Gulf Coast were either badly damaged or totally destroyed by Katrina. I saw some of the pictures from Biloxi shortly after the storm passed where some of the casinos on the Gulf shore (barge type) were picked up and deposited across Hwy 90.

Yes, there was a lot of casino damage on the Gulf shore. I remember seeing the news about Casino Magic, which I had been to the same month as Katrina (for a work conference, believe it or not! LOL). I don't know if they were able to rebuild it either.

[Meadbh]

I don't spend anything like $100K, but FWIW, travel is my biggest spending category.

[Lucantes]

Not yet retired (come on April 2017!) but our planned budget has about $2500/mnth that I have classified as "discretionary" in our budget ($30K/yr) which is about 36% of our planned budget. This includes such things as travel, eating out etc.

[ABQ2015]

While still working, most of my discretionary income is going towards paying for biweekly house cleaning and yard maintenance, cable TV, quality walking shoes, helping my brother financially until he sells his house, and about $3-4K on vacations this year. Once I retire in 2017, I plan to relocate and downsize but will be renting for at least the first year. The rent will eat up a good chunk of my income and I will also increase my spending on travel. I'll have to spend extra on clothing too as the new climate will be colder with more precipitation and I want to transition from office worker to a more active, outdoorsy lifestyle.

[check6]

We have two small inexpensive homes and no kids so it leaves us some extra $$ to spend on ourselves:

Remodeling
European travel x 2/yr
High end auto, purchased used
Airplane hobby