Midpack
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
We are still working and our actual expenses are about $60K/yr. We live in a relatively low cost of living area and own everything outright with no debt. We have a modest 2270 sqft home, hope to downsize eventually. We're in very good health, but my wife had a health event that required hospitalization, so our Med out-of-pocket costs were unusually high. But I have to be prepared to hit deductible limit ($5000) in some years, presumably more often the older we get. And I've left off income/sales taxes - who knows how much more of a bite that will take in the decades ahead...
I read about people here (and elsewhere) who are comfortable in retirement at $24K/yr and $36K/yr and I believe them, but I don't understand how it's done. So here's my actuals for 2009, I'd welcome suggestions on how I get to $36K/yr.
I've left off boat expenses (a no-brainer to reduce costs), but even if I cut grocery expenses in half and eliminate most entertainment expenses (which would probably increase my wine/liq spending), I am still over $50K/yr.
I would welcome casual or comprehensive comments. Don't be bashful, I wouldn't have taken the time to put together this table if I wasn't really asking. Thanks in advance.
I realize the accrual is large, but we can't expect everything we own to last 30-40 years and many are big ticket items. These things have to be accounted for somehow no?
* DW car (every 5 yrs) $4226,
DH car (every 5 yrs) $3287,
travel (every 2-3 yrs) $1565,
Home Repairs (roof 20 yrs, paint 5 yrs, etc.) $1043,
furniture (once) $435,
PC (every 5 yrs) $391,
bed (every 15 yrs) $348,
appliances (furnace, AC unit, stove, dishwasher, washer, dryer, fridge, etc.) $196,
TV (every 15 yrs) $174.
I read about people here (and elsewhere) who are comfortable in retirement at $24K/yr and $36K/yr and I believe them, but I don't understand how it's done. So here's my actuals for 2009, I'd welcome suggestions on how I get to $36K/yr.
I've left off boat expenses (a no-brainer to reduce costs), but even if I cut grocery expenses in half and eliminate most entertainment expenses (which would probably increase my wine/liq spending), I am still over $50K/yr.
I would welcome casual or comprehensive comments. Don't be bashful, I wouldn't have taken the time to put together this table if I wasn't really asking. Thanks in advance.
Category | Annual | Monthly |
Allowance (pocket money DW & DH) | $3259 | $272 ($40/wk ea) |
Auto Gas | $1937 | $161 |
Auto Insur | $1638 | $137 |
Auto Maint/Repairs | $1847 | $154 |
Boat | ||
DH Clothes/Personal | $857 | $71 |
DH Haircuts | $297 | $25 |
Dog Food/Vet | $732 | $61 |
DW Clothes/Personal | $868 | $72 |
DW Hair/Nails | $382 | $32 |
Entertain Dining | $3815 | $318 ($73/wk) |
Entertain Internet | $603 | $50 |
Entertain Movies/Plays | $801 | $67 |
Entertain Chicago Parking | $102 | $ 9 |
Entertain Dish TV | $761 | $63 |
Food Grocery | $6443 | $537 ($124/wk) |
Food Wine/Liq | $641 | $53 ($12/wk) |
Gifts | $645 | $54 |
Home Insur | $1256 | $105 |
Home Lawncare | $490 | $41 |
Home Misc/Repairs | $707 | $59 |
Home Assoc Fee | $885 | $74 |
Home Prop Taxes | $2265 | $189 |
Med Insur Prem (Hi Ded) | $6540 | $545 |
Med Out-of-Pocket | $6525 | $544 |
Misc Off Supplies | $94 | $8 |
Misc Postage | $215 | $18 |
Util Elec/Gas | $1849 | $154 |
Util Phone | $559 | $47 |
Util Sewer | $780 | $65 |
Util Trash | $309 | $26 |
Util Water | $450 | $38 |
Vacation | $1197 | $100 |
Accrual* | $9965 | $830 |
Grand Total | $59715 | $4976 |
I realize the accrual is large, but we can't expect everything we own to last 30-40 years and many are big ticket items. These things have to be accounted for somehow no?
* DW car (every 5 yrs) $4226,
DH car (every 5 yrs) $3287,
travel (every 2-3 yrs) $1565,
Home Repairs (roof 20 yrs, paint 5 yrs, etc.) $1043,
furniture (once) $435,
PC (every 5 yrs) $391,
bed (every 15 yrs) $348,
appliances (furnace, AC unit, stove, dishwasher, washer, dryer, fridge, etc.) $196,
TV (every 15 yrs) $174.