How much did you spend in 2010?

[SecondCor521]

Numbers aren't completely final, but total 2010 expenditures are currently at $63,384.40.

The three largest categories, which should represent somewhere around 70% of the total:

Taxes $21,958.73
Kids $15,925.24
Interest expense $7,659.12

2Cor521

 

[NW-Bound]

Let me check what this wonderful Quicken tells me... Over 12 months...

$0 ! What the heck!!!

Oh, it shows the results for 2011 YTD!

OK, so what is it for 2010... That ain't right either... Oh yes, I only started using Quicken 3 months ago. Should I multiply that by 4? Nah, that does not include what I spent earlier in the year for the 3 vehicles I bought. New-to-me toys, but still... I need to look at my wife's spreadsheet to know.

Oh, well... Who cares? The main thing is my portfolio is up good, and I think I might actually have had a net withdrawal from it.

As long as we enjoy life and still have some money left, and do not feel deprived, it does not matter, does it? I can spend more, or I can also spend less. It does not seem to change my happiness level much.

 

[aaronc879]

Wow - I'm in MN, can don't believe I can get by on 3x your spend. Good job!

You can get by on 3x what I spend, but do you want to? Even though I only put $7000 in my 401k in 2010 I still had take-home pay under $30,000. With take-home pay under $30,000 I couldn't spend 3X my $11,974 expenses even if I wanted to.

 

[Red_y]

2 adults...2 Abyssinian fur kids...debt free...semi-retired

$36,800 not including house-building expenses; the amount does include $9600 in rent payments that won't reoccur in 2011 now that we are moved in to the new place.

We live in BC Canada where food and fuel are expensive, but health insurance costs $109/month for two people.

Plan on withdrawing 3% of portfolio in 2011 and use part-time w*rk income for more traveling.

 

[Aiming_4_55]

You can get by on 3x what I spend, but do you want to? snip.

We probably can get by on about 36k, but only because we no longer carry a mortgage. Our 2010 spend was higher than normal at about 55k due to numerous travels, international/domestic and out of state funeral along with adoption finalization.

As long as you are happy, that's all that matters.

 

[Khan]

Haven't worked all the numbers.
Spent ~$22k
Gave away: ~$10K
Portfolio: larger than a year ago
Need to figure out how to tap TSP

 

[Danmar]

Nords- Yes, I understand your mortgage stategy. Your investment philosophy is close to mine except I don't bother with options. Probably could make reasonable returns doing so but want to keep things very simple. Portfolio returned about 10% plus 3.5% divs in 2010. Just about back to it's peak of late 2007.

 

[aaronc879]

As long as you are happy, that's all that matters.

I have everything I need and some things I don't. I'm on day 11 of my vacation and would like nothing more than to not go back to work. I will happily continue to spend very little to make that day happen sooner.

 

[NW-Bound]

Yep. There are many things money cannot buy. I spend more if I have more, but I can easily spend less if I have less. It's too tough to be happy if one is cold and hungry, but everything beyond that seems all optional. I like to have more money because I am Scroogy and a hoarder and I want to count it.

 

[ikubak]

2010 - 52,428
2009 - 53,772
2008 - 56,465
2007 - 53,391

 

[piano88]

expenses

$90K, gross (including roughly 20% for fed, state, SS taxes)

 

[bbbamI]

I think everyone should remember this isn't golf - the lowest number doesn't win.

You just had to take the wind out of my sail...didn't you?

 

[Nodak]

Just totaled mine at $19,292 for everything.

 

[aaronc879]

Just totaled mine at $19,292 for everything.

That's more like it.

 

[Aiming_4_55]

I'm still fairly new here and I thought the lowest SWR was better. I guess I have it all wrong. More years to learn I guess ;-)

I think everyone should remember this isn't golf - the lowest number doesn't win.

 

[scrabbler1]

Excluding taxes, my expenses were just under $21k. (Single person, no kids.) My income taxes were about 2x what I thought they were going to be because I had a large, unexpected ST Cap Gains distribution in one of my bond mutual funds. While I reinvested the proceeds (giving me lots of new shares), it was still taxable.

 

[Shawn]

Single, living alone (one cat), San Francisco Bay Area, 51, not yet retired ...

$8,601.29 Mortgage
$4,844.57 Charity
$3,147.59 Property Taxes
$2,286.28 Utilities (Gas/Elec, Water, Phone, Trash, TV, Internet)
$1,518.65 Home and Auto Repair
$0,715.00 Homeowners Insurance
$0,557.00 Auto Insurance (2 cars)
$0,471.86 Gas (for car)
$0,441.50 Cat Vet
$3,524.67 Misc (food, clothes, entertainment, recreation, doctor, dentist, subscriptions, ...)

Total: $26,108.41 (plus $60,537 in estimated income taxes)

I also purchased a new car for $16,673.63. I expect it to last 30 years, giving an annualized cost of about $500.

Previous Years:
1999 (30,915)
2000 (33,454)
2001 (27,325)
2002 (31,751)
2003 (29,757)
2004 (25,510) [plus 18K in veterinary bills]
2005 (29,424) [plus 5K in veterinary bills]
2006 (30,735)
2007 (29,703)
2008 (31,846)
2009 (23,878)
2010 (26,108) [plus 17K for a new car]

 

[RonBoyd]

I think everyone should remember this isn't golf - the lowest number doesn't win.

On the other hand: Winna! Winna! Chicken Dinna!

Just totaled mine at $19,292 for everything.

 

[aaronc879]

Single, living alone (one cat), San Francisco Bay Area, 51, not yet retired ...

$8,601.29 Mortgage

How do you get a mortgage in San Francisco for ~$700/mo?

 

[Shawn]

How do you get a mortgage in San Francisco for ~$700/mo?

Refinance. I owe a little less than $90K on a $375K house.

 

[Khan]

I think everyone should remember this isn't golf - the lowest number doesn't win.

It doesn't?

 

[Westernskies]

Don't track it as closely as some, but the basics were around $23k. The rest I spent on beer and wine...

I've heard this quoted another way:

"Spent most of what I made on beer and wine; the rest I just wasted."

 

[Meadbh]

I also purchased a new car for $16,673.63. I expect it to last 30 years, giving an annualized cost of about $500.

That's quite the car. What did you buy?

 

[W2R]

I haven't worked through all my numbers yet, but it looks like my spending totals ~$21.5K.

This does not include income tax. I am single, my house is paid off, and while I am not wealthy, to tell the truth I can buy whatever I want if I spend that much. This is more than I am used to spending and includes a lot of discretionary purchases.

In addition to the above, I bought a car at the beginning of 2010 as a retirement present to myself, with money that I had set aside over 10 years. This will be my last car so there is no need to save for another.

Also, I withdrew several thousand temporarily to use for preparing my house to sell (painting and re-doing the flooring for the entire house, various repairs, and cosmetic work and upgrades) but kept track of every penny and will get it back from the equity after it sells. This is a loan to myself, rather than spending.

If I included all of the above, luckily I would still come in less than my 3.5% SWR (based on my 1/1/2010 portfolio value less the cost of the car) so I am not worried about it. I find the ~$21.5K figure to be helpful for me, because that this figure and my figures for previous years are reasonably comparable.

 

[Dog]

We spent around $62k in 2010. That includes all expenses for two homes (only one mortgage). We plan to sell the home with the mortgage in the next few years (sooner rather than later depending on the market). Not a lot of skimping as I was employed full time until 12/1/ 2010 making a very nice salary (we saved a good portion of my salary). Our biggest expenses were mortgage, taxes, utilities, groceries and insurance (in that order). I expect our spending will decrease until I find another job.