Some of you are really amazing. I've got 3 months left before my April 1 departure from the work place. There is no way we can live on what you guys are living on.
1. Health Insurance. Premiums will be right at $9,000 a year, with a pretty big deductibe. We don't see doctors often, but we're budgeting $12,000.
2. Property taxes on 2 homes. Almost $11,000 a year. No mortgages.
3. Homeowner insurance. $5,000 a year.
4. Car insurance. $1500 a year for 3 cars. But, no car loans.
5. HOA dues are about $3,000 a year.
6. Electricity on 1 house is about $400 a year, but over $3,000 on the Florida house. We plan on reducing that $3,000 signficantly by leaving Florida during the hot months and setting the thermostat up much higher than is comfortable when we're here in the summer. But still, it's going to be $2500 or so a year.
7. That puts us at about $35,000 without spending any money for food, clothing, entertainment, auto expense, etc.
8. For budgeting purposes, we have budgeted $10,000 a month spending but really think we will spend a good bit less once we get settled into retirement life. But it isn't going to be $30,000 or $50,000, so I am very impressed by you guys who get by on so little. I guess we could do that if we consolidated to the smaller, cheaper to run house and got rid of a couple of cars. It costs less than $5,000 a year to run that house, including taxes, electricity, gas, etc.
It's really inspiring to hear your stories.