chinaco
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Feb 14, 2007
- Messages
- 5,072
My planned ER date is not far off. I am studying our finances, to get a better understand of our Income while I am working versus after I ER.
One area I have been exploring is the cost of working. Those expenses that are related to earning a wage. I am just getting into it... but, I found over 8% gross reduction out of my gross pay in 3 areas:
I will, of course have some expenses in ER that will offset some of those savings (most notable are Mega Corp ER Health Ins Premiums).
Has anyone on the forum done a detailed analysis of pre/post work cost differentials? That is expense of working versus new expenses in retirement?
I am also looking at our pure out of pocket cash flow after tax to better understand our pre/post working budget.
But I must admit, most of my ER expense assumptions (over the years) has been using a replacement of a percentage of gross wages.
It is almost like finding money. Whoopeeeeee!
One area I have been exploring is the cost of working. Those expenses that are related to earning a wage. I am just getting into it... but, I found over 8% gross reduction out of my gross pay in 3 areas:
- SS Contribution
- Medicare Contribution
- Fuel cost reductions not driving to work.
I will, of course have some expenses in ER that will offset some of those savings (most notable are Mega Corp ER Health Ins Premiums).
Has anyone on the forum done a detailed analysis of pre/post work cost differentials? That is expense of working versus new expenses in retirement?
I am also looking at our pure out of pocket cash flow after tax to better understand our pre/post working budget.
But I must admit, most of my ER expense assumptions (over the years) has been using a replacement of a percentage of gross wages.
It is almost like finding money. Whoopeeeeee!