We are burned out

My spouse wants me to look for a higher paying job aggressively. I feel that I will network to that end with my clients and friends, but I also feel that I am not that marketable at my age and experience.... [M]y wife says instead of cutting back how about more income. We love each other very much, but I think she needs some time to get comfortable with our new normal.
You may well be correct about your limited marketability. However, I suspect that it might be helpful in your marriage if you give it the old college try and do your best to find a new job. If you are unsuccessful, at least you will have tried: which from your wife's perspective may be better than simply "giving up".

Job loss is very stressful on couples. I wish you the best of luck.
 
I guess you could consider us young dreamers, but both of us are 56 years old and are burned out at work and want to get out asap.

We have saved around $900k (830 in reg IRA and 75 in Roth IRA). Our investments are in index funds and ETF's with a 50/50 equity/bonds spread. We have no pension, but my spouse has company paid medical for both of us. It runs about $80 per month with $1000 deductible 80/20 coverage with prescription plan. Who knows under Obama care if it will continue. We have no debt including our home as we just paid it off with our emergency fund. That emergency fund is down to $8k. Our expenses are as follows.

Condo fee $226
property taxes $300
utilities $175
cable,internet,phone $159
auto,home ins. $183
food including carryout $700
charity $100
entertainment $150
auto repair $250
auto gas $400 (this would be way lower if we retired)
home maint $200
home improv. $150
personal cash $400 (50 each per week would be lower if retired)
medical ins $81
medical ex $100
clothing $150 (lower in retirement)
travel $300 (higher in retirement)

This brings our monthly expenses to around $4000 per month. What we are hoping is that we could get some feed back on if we could retire in another year 6/11? Thanks Jeff

Chances are that some of those expenses will go down once you retire (although some may increase ... such as travel).
$900k at a 4% withdrawal rate is $3,000/month. It's best to withdraw 4% or less, that way you don't have to worry about trying to "time" the market.
 
So here is the real question: How burnt out are you really? If you seriously think you can't take much more, perhaps you could try partial retiremenet and get a part-time job until SS kicks in. Your wife's position seems pretty demoralizing. I can't see that being good for her.

You have A LOT of expenses. Are there things you could cut out of your budget? $160 for cable,internet and phone? Do you really need all the channels you have? I personally don't even have cable. Would you rather have cable of peice of mind and relaxation?

$700 in food a month?! Can I ask what you are eating? If a majority of this is eating out, then you could probably cut this in half saving $4200 a year. Again, what's really important hear? Retiring or eating out a lot?

You can likely half your auto expenses if you cut out one of the cars. $400 in gas is a lot and I know that is related to your job.

If you can live off a bit less, then I would say go for it. Life is too short.
 
I am into my second week of part time employment. I have been servicing my accounts about 3 hours a day. I may work more hours when my new desk, phone, and computer are set up at the office. It has been a little hard getting used to forced semi retirement. However it is getting easier each day.

That 700 per month only included 100 for restaurants. When we both worked full time we would buy alot of ready made meals at the grocery store. We shop at Wegman's, and if anyone has ever been to one you could see how we spent that much on food.

I have cut some expenses cable down to 130 cut out HBO and Showtime, groceries down to 500 per month, and gas and service on autos down to 250 and 150 respectively. Our new budget includes 500 savings per month with SmartyPig currently paying 2.15%. We will use that savings for our emergency fund and replacement car savings. Hopefully full retirement for both of us in 3.5 years.

Today I got up at 8:30 piddled on the computer for a while. Then I went on an hour long walk. I showered and went to the office to pick up some samples for a customer. I was back home buy 1pm and made myself some lunch. Took a short nap after lunch and then sat outside and smoked a cigar. I clean up the kitchen and bedroom and prepared dinner. Now my spouse and I are watching NCSI with our cats. Not a bad day at all.
 
How far is your office from home? Would it be possible to work from home? (though this may can be a negative if you can't motivate yourself to work every day without going "some where").
 
How far is your office from home? Would it be possible to work from home? (though this may can be a negative if you can't motivate yourself to work every day without going "some where").

My office is about 12 miles from home. I can do a lot from home.
 
Today I got up at 8:30 piddled on the computer for a while. Then I went on an hour long walk. I showered and went to the office to pick up some samples for a customer. I was back home buy 1pm and made myself some lunch. Took a short nap after lunch and then sat outside and smoked a cigar. I clean up the kitchen and bedroom and prepared dinner. Now my spouse and I are watching NCSI with our cats. Not a bad day at all.

Hey, you're already getting the hang of it! Congrats on the semi ER!
 
Crispus,
Yep, those ready made meals help your grocery bill creep up don't they?
And I know I've picked up the ready made meals on rare occassion at a nearby Wegman's.
That works out to be about $8.33/person/day to feed you and your DW. The basic math is $500/30/2.

I know me an my DW (and our 4 kids + 1 dog) live very well on about $5.27/person/day. Granted, all the kids are 10 years old or younger, and my wife pretty much cooks every day (aside from the occasional dining out 2-3 times a month).
 
Crispus,
Yep, those ready made meals help your grocery bill creep up don't they?
And I know I've picked up the ready made meals on rare occassion at a nearby Wegman's.
That works out to be about $8.33/person/day to feed you and your DW. The basic math is $500/30/2.

I know me an my DW (and our 4 kids + 1 dog) live very well on about $5.27/person/day. Granted, all the kids are 10 years old or younger, and my wife pretty much cooks every day (aside from the occasional dining out 2-3 times a month).

Myself, I was wondering how you keep you grocery expenses so low? Does the amount of participants keep your per person costs lower? We don't clip coupons, but our typical week of groceries consists of eggs, lots of fresh fruit and veg., some lunch meat and cheese for sandwiches, a pasta night, a farm raised salmon night, usually hamburger night, maybe a slow cooked brisket or pork roast, and sometimes eggs and bacon for dinner. The only way I know to lower costs is to eat more junk food. If you have any ideas we would be very appreciative.
 
Myself, I was wondering how you keep you grocery expenses so low? Does the amount of participants keep your per person costs lower? We don't clip coupons, but our typical week of groceries consists of eggs, lots of fresh fruit and veg., some lunch meat and cheese for sandwiches, a pasta night, a farm raised salmon night, usually hamburger night, maybe a slow cooked brisket or pork roast, and sometimes eggs and bacon for dinner. The only way I know to lower costs is to eat more junk food. If you have any ideas we would be very appreciative.

You could eat more junk food, or keep incomplete records. I am single and spend about $400 or a little more per month. Since I am single, I eat more steaks and I eat only wild fish which does cost more. I almost never eat a meat or fish variety that is not really fresh and also a really good sale price. But if salmon costs $15.99/#, a good sale might still be around $10/#. I drink only cheap Trader Joe type wine. Though I can tell the difference I don't care as much about wine as I care about the food. If I still ate the quantities that I ate 10 or 15 years ago it would cost me close to twice as much. I have always eaten this way, as a student, as a young single man and as a family of four. My mother and father fed us this way too, and I appreciated that. I am not one of these people who goes into the fish market and asked the clerk what looks good- I know what will be good. I also spend much much less than many others who may buy some king salmon at $24/pound, even though the run is getting late and the flesh does not look good when right next to it is beautiful fresh wild coho on sale for $8.99.

I do try to save money by being willing to walk around to 4 or more groceries, because there can be >50% price difference on the same item, based on sales.

OTOH, other than the fish if I moved to Dallas Metro it might cost 25-30% less. Prices do vary a lot around the country. My brother eats very well down there on less than $300/mo.

Most save-money food programs are based on substituting meats, fruits and non-starchy vegetable with potatoes and grain products and cheap oils. Some money can be saved by shopping in bulk at places like Sam's or Costco, if the stored items don't lose quality or take up more than the amount saved in floor space and car expenses to get there.

When I take an all-in estimate of the stochastic cost of club shopping, I won't do it except for expernsive electronics. Somebody might hit me in the parking lot, I might get a ticket driving there, it takes gasoline to go...and I really don't want to! I reserve driving for visiting people and absolute necessity. :)

Ha
 
Groceries really do vary drastically by locale, the metro areas are usually particularly bad. Certain stores charge 2x as much for just about everything. But that is just because many people don't really care about blowing money.

That aside, it is quite easy having a pretty low budget per person if you can avoid alcohol, choice meats, chic high-end pre-prepared meals, and expensive VAT-taxed imported food. Just about everything else I can think of does not have astronomical prices (obviously a few odd items, like cherry juice, but not whole categories). Plenty of healthy and tasty options left. That can take the pleasure out of food for many people though.
 
Myself, I was wondering how you keep you grocery expenses so low? Does the amount of participants keep your per person costs lower? We don't clip coupons, but our typical week of groceries consists of eggs, lots of fresh fruit and veg., some lunch meat and cheese for sandwiches, a pasta night, a farm raised salmon night, usually hamburger night, maybe a slow cooked brisket or pork roast, and sometimes eggs and bacon for dinner. The only way I know to lower costs is to eat more junk food. If you have any ideas we would be very appreciative.
This is a little long-winded, so please accept my apologies. :LOL:

We shop MOSTLY at our local ACME. We don't drive to a lot of different stores to get their sale items. ACME usually will have the products that we eat on sale every 2-6 months. We also shop at BJ's wholesale 3-4 times a year.

We buy very little soda (about 6-8 twelve packs for the entire year), and a little juice (for the kiddos), although we only buy that on sale. We drink mostly water and/or milk. I drink close to 1 gallon every day during the week. And I also drink tea to change up drinking so much water.

Added: We look at the per unit price that ACME posts on their products (at least ours does). If it's an item that we'll use for some time, and the per unit price is smaller on the larger sized item, we'll buy that one even if the same smaller item is on sale but costs more per unit. A perfect example of this is ice cream, and also paper products. The larger items are often less expensive than the smaller size items.

We also receive some rewards from their coupon dispenser for money off of the products they sell. However, we try to buy mostly the items that are on sale. If they are something that we'll use for quite some time (paper products, cereal, or some meats), we'll purchase extra and store it in a cabinet (or freezer for the meats). So, if it's 2 for $5, we'll buy 4 of them (I just picked up some really good cantaloupe this morning). Or in the case of cereal, I'll pick it up when it's on sale for 4 for $10, or 5 for $10. As I mentioned, we're a large family (2 adults, 4 kids), so it's easier to buy a lot of these items and them not going bad.
Incidentally, we mostly eat turkey bacon. It's leaner and isn't as greasy as regular bacon. We do occasionally eat that, but it may be 3-4 time a year.


Like you, we also buy fresh fruit, vegetables with at least every meal (sometimes for lunch too). We eat Salmon at least 2 times a month, and we'll buy it fresh or farm raised (and frozen in the latter case). I need the Omega-3 to keep my good cholesterol up. I had a problem with both of my cholesterol measurements being too low. We also eat mostly chicken and/or turkey. This includes us having turkey burgers, and occasionally beef burgers. We also eat "rabbit food", you know salads. I add wheat germ to mine, and so does my wife and our youngest. It adds a little different taste and texture. We'll purchase shrimp and/or lobster (on rare occasion), when they are on sale. We usually get the shrimp with the skin on, since you can throw them into boiling water and it breaks the skin and deveins them almost instantly.
We jar our own tomatoes once a year (literally about 160-180 jars), but that helps to feed our family, and our in-laws for the entire year. They are 100% Italian (including my wife), so trust me I'm not a stranger to pasta (which we also buy on sale).
We do get other snacks though. Tubs of ice cream (it's a lot cheaper), cookies (Chips Ahoy are my favorite), chocolate (my biggest downfall), and yogurt.
Added: We eat ice cream about every 3-4 days. We have cookies about 2 times a week. I eat quite a bit of chocolate myself (about 8-10 pieces of chocolate every day).

I bring the left-overs to work for lunch. That works for now, but won't as the kids get older and start eating more because they'll be growing so quickly when they hit puberty.
 
Crispus,

Since everyone must eat every day, saving money on food is always a hot topic - there are many good tips in various threads.

We live in a high-cost suburb and spend about $5,000 a year on groceries, but our food cost is less than that because "groceries" includes everything from the grocery store: napkins, toilet paper, cat food, aspirin, soap, shampoo, cleansers, coffee, you name it. We shop once a week at the grocery store and once every 2 weeks at BJ's. We always carry a list and stick to it. We follow sales and use coupons (husband's job to keep track, since he's retired and I work).

We don't eat out, or eat pre-prepared meals, a conscious choice to save $$.

We don't eat junk food (I don't consider chocolate, ice cream,or pretzels junk food - life without chocolate would not be worth living) or drink soda. I make baked goods from scratch. We do not buy prepared cakes, cookies, pastries, etc.

During winter, we use a lot of frozen vegetables (which are often on sale); broccoli is a favorite. During summer, we revel in fresh vegetables and fruit. You can never eat too much of those and it is worth it to spend the extra $$. I would give up many things, before skimping on fruit and vegetables.

We have simple meals (often pasta based) and salads during the work week, and team-cook a fancy meal on weekends, making enough to reheat for one leftover meal, sometimes 2. (It is quite expensive to throw away leftovers). Salmon is a favorite: Two pounds of farm salmon ($6.99 a pound) will feed us for 3 meals, with asparagus and new potatoes. We do a lot of stir-frying, which is delicious, and stretches meat a long way.

My daily work provisions are: Two generous PBJ sandwiches on wholegrain bread; an orange, and another piece of fruit or carrots; some sliced almonds and raisins, and cookies, if I baked any. I'm like a cat: I don't mind eating the same thing day after day. I refuse to eat in the employee cafeteria, and I spend my 30 minutes of lunch break walking around.

If there is a cheaper way to eat healthy in our high-cost area, we haven't figured it out. As always, wishing you luck in your transition to retirement!

Amethyst
 
That aside, it is quite easy having a pretty low budget per person if you can avoid alcohol, choice meats, chic high-end pre-prepared meals, and expensive VAT-taxed imported food.
I'm not arguing that imported food can be, and often is, expensive, firstly because of shipping, second because of import duties in some cases, and thirdly because the imported stuff tends to be high end (although many exceptions apply). But if you believe that when you buy, say, French wine, you are paying French VAT, you're not.
 
Groceries really do vary drastically by locale, the metro areas are usually particularly bad. Certain stores charge 2x as much for just about everything. But that is just because many people don't really care about blowing money.

We have 4 grocery stores within about 15 min. driving distance. The closest is, of course, the most expensive. Sigh. However, it has a few things that are store brands that I can't find anywhere else. For that store I also follow their sales. Otherwise I avoid it.

Next closest is a little less expensive and has a good selection but doesn't have a few things I really like.

The next is the cheapest overall and has a good selection but again doesn't have some things. DH doesn't like it since it is very large.

Finally, there is the Super Target. It is also very inexpensive (somewhat surprisingly). It is much cheapest for some things and has some things that I can't find anywhere else at all. Yet it annoys me mostly because they don't have sackers to put your bags in your cart (let alone help you outside). I don't mind taking out my things to the car but it annoys me to have to put the bags in the cart. The other annoyance is that their selection is more limited. So they have some things no one else has, but they also don't have many things that everyone else has. I find that I tend to alternate between a couple of different stores.

We have 5 in our house (3 teenagers) and our grocery bill (just for food, not including dining out) ranges between $700 and $850 a month.
 

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