2019 Spending Summary and Analysis

[Teacher Terry]

Happy, you should definitely enjoy your money. That’s why you saved for retirement is to enjoy yourself.

 

[bigcmagor]

$152,000 in spending and another $150,000 in income tax - blush. Still taking the big hits on two homes before throwing in the towel. One roof to go!

 

[Teacher Terry]

Big, that’s a big ouch for taxes!

 

[2017ish]

50% travel
17% taxes (counting only 1/2 of taxes for Roth Conversion as "spending")
33% everything else, with all insurance, wines/liquor, and groceries being notable.

2 of us, age 59 &58. 3+ months international travel, 4+ domestic, including 15 days rafting grand canyon. We are in blow that dough mode and loving the extent of the 24% bracket for conversions....

 

[street]

Spending for 2019 all inclusive including taxes was $218,959.

RobbiieB is this an average year of spending for you? That is a lot of cabbage! Lol

 

[RobbieB]

I hope not, it's not sustainable. But with step daughter college and home improvements it's gonna be big for 2 more years.

 

[street]

Good for you that you can have those expenses and still do fine.

Thanks RobbieB

 

[Morricol61]

We were right on track with anticipated expenses by the end of December. Budget was to spend $49,500 (two adults, one dog) and Actuals came in at $49,462.

I allocated $2700 towards contingencies or unplanned expenses and even though we exceeded that, (by more than double) we still came in under budget.

Last year's major budget allocation was $9,000 for travel which we did exceed, but we got to travel around Australia in our caravan for 9 weeks touring from south east Queensland, out west to Tennant Creek, north to Darwin and a 10 day 4x4 bus tour through the Kimberley and across to Broome on the north west coast of WA a flight back to Darwin and home via Cairns. A pretty good trip and money well spent.

Last year's breakdown:
Vehicles $8,560 (registration, insurance, service/maintenance/repair, fuel, parking and tolls for 3 cars and a caravan)
Housing $7,740 (council rates, utilities, insurance, gardening and miscellaneous expenses) no mortgage.
Travel $10,426 (9 weeks in a caravan, a domestic flight for 2, plus a 4x4 bus tour to Broome)
Groceries and eating out $7,538
Medications, dental and optical $2,334
Communications $975
Gifts $986
Clothing and grooming $888
Dog $832 (boarding, veterinary & registration)
Fun money $3,254
Unplanned expenses $5,929

 

[Happyras]

Well, maybe...... DW and I are on Medicare. With IRMAA, we spend upper teens annually on HI premiums. Compared to our working years, with employer subsidized HI, it costs us significantly more now as retirees. And so be it.........

That was my surprise as well this year. When I was forced to drop my Cobra Platinum plan, and go on A, B, D and G my cost went up even more than my non-subsidized Cobra insurance. They get you on MAGI, and count all the capital gains as income against the Part B and D IRMAA. Since we spread our capital gains as an installment sale over several years, we get screwed for a long time....I think I need to reconsider this installment sale and take the hit in one year, anyone have a feedback? It pushes up our tax bracket for several years and makes Roth conversions less attractive as well.

 

[RonBoyd]

Last year's major budget allocation was $9,000 for travel which we did exceed, but we got to travel around Australia in our caravan for 9 weeks touring from south east Queensland, out west to Tennant Creek, north to Darwin and a 10 day 4x4 bus tour through the Kimberley and across to Broome on the north west coast of WA a flight back to Darwin and home via Cairns. A pretty good trip and money well spent.

Travel $10,426 (9 weeks in a caravan, a domestic flight for 2, plus a 4x4 bus tour to Broome)10426/

I am impressed... all that for less than $150 day for two people. Was this through a tour operator?

 

[Nemo2]

Tennant Creek

That's been a while for me:

Thread: http://www.early-retirement.org/forums/f27/interesting-people-youve-met-73412.html

Here's the pic circa 1961 (TinyPics went tits up):

 

[ESTLANEE]

Looking for advanced table information

Click reply and then select go advanced. This is what I got in advanced

 

[Dtail]

Click reply and then select go advanced. This is what I got in advanced

First post in 13 years....

 

[ESTLANEE]

No iformation, just a reply box.

 

[Jerry1]

No iformation, just a reply box.

When you go to advanced, you get access to emoji's, more formatting options and the ability to preview your post. If you're not able to see those things, please let us know.

 

[Morricol61]

I am impressed... all that for less than $150 day for two people. Was this through a tour operator?

Gidday RonBoyd, most of the trip was self drive towing our caravan and staying at private camp grounds, caravan parks and free camping when possible. I can provide a breakdown of expenses for the full nine weeks if you like, but I think you are asking about the adventure tour we did between Darwin and Broome.

We traveled with a tour operator from Darwin to Broome, in an air conditioned, 4 wheel drive bus carrying a maximum of 16 passengers. The passenger's country of origin was about 50% Aussies and 50% international visitors.

As this was an adventure tour, we camped out every night. Meals were a group affair with every one pitching in to help prepare and clean up afterwards. We ate around the campfire and slept in swags on the ground. We had a swim every day in creeks, water holes or under water falls and walked along shady bush tracks to get there. Our very knowledgeable guide Adam was amazing. He showed us native animals and aboriginal rock art that most of us would have walked right past without even noticing.

The tour was run by Kimberley Off-Road Adventure Tours [www.kimberleyoffroadtours.com]. Cost was AU$1,999 per person.

 

[Morricol61]

That's been a while for me:

Thread: http://www.early-retirement.org/forums/f27/interesting-people-youve-met-73412.html

Here's the pic circa 1961 (TinyPics went tits up):

Thanks Nemo, the Northern Territory probably hasn't changed that much, it is still a wide open space with a number of tiny settlements with fewer than 100 permanent residents. The biggest change since the 1960s is that the roads are in better condition.

There are still touring boxing troupes getting about in the outback but they now attract women boxers as well. Fred Brophy is one that comes to mind.

 

[Cobra59]

grasshopper has it right.... you're confusing spending with withdrawals.

While a car is money out the door, it isn't living expenses which is what we are typically referring to when we use the term "spending". And technically, the car is the purchase of an asset that will be used and enjoyed for many years, not living expense.

From my perspective, spending on a new car has to be accounted for somewhere, even if you assume a nominal 10 year life of the vehicle and allocated 10% of the purchase price each year. If you say I am not going to count my large expenditures, then your actual total WR has little relationship to the reality of your total available funds.

 

[RonBoyd]

Gidday RonBoyd, most of the trip was self drive towing our caravan and staying at private camp grounds, caravan parks and free camping when possible. I can provide a breakdown of expenses for the full nine weeks if you like, but I think you are asking about the adventure tour we did between Darwin and Broome.

We traveled with a tour operator from Darwin to Broome, in an air conditioned, 4 wheel drive bus carrying a maximum of 16 passengers. The passenger's country of origin was about 50% Aussies and 50% international visitors.

As this was an adventure tour, we camped out every night. Meals were a group affair with every one pitching in to help prepare and clean up afterwards. We ate around the campfire and slept in swags on the ground. We had a swim every day in creeks, water holes or under water falls and walked along shady bush tracks to get there. Our very knowledgeable guide Adam was amazing. He showed us native animals and aboriginal rock art that most of us would have walked right past without even noticing.

The tour was run by Kimberley Off-Road Adventure Tours [www.kimberleyoffroadtours.com]. Cost was AU$1,999 per person.

Thank you. That explains it. We spend quite a bit in our RV, also.

(Well, that and I completely missed that you lived in Australia. <sheepish grin>)

 

[slowsaver]

Broke the budget this year by getting a new roof, gutters, and painting the house ($32k).
All other expenses total $55k, which is $10k less than last year.
Here's a breakdown:

CASH	$150.00
Auto - Fuel	$1,126.21
Auto - Maint	$102.16
Groceries	$3,685.69
Alcohol	$674.65
Internet	$727.67
Cell Phone	$191.61
Utilities	$2,373.20
Condo (HOA, PropTax, Insur)	$3,355.00
Gifts	$924.71
Home & Garden	$1,904.35
Home Insur	$1,311.00
Property Tax (primary home)	$5,511.88
Auto Insurance	$940.00
Health, Dental, Gym Fees	$2,581.35
Clothing	$220.32
Computer	$1,646.35
Bike, Run, Sports	$58.16
Dance	$1,423.27
Dining Out	$10,418.31
Education, Entertainment	$819.14
Personal Care	$664.91
Donations	$2,011.18
Vacation Packages	$5,681.26
Lodging	$2,763.36
Air Travel	$998.00
Public Transport, Uber, Tolls	$802.18
Misc	$810.50
DH Misc	$1,771.00
Total	$55,647.42

 

[imoldernu]

We measure our spending by our bank checking account.... month to month and year to year. (using current inflation numbers)
So: $12000. checking account

Income is simple.
$27,000 Soc Security
$14,000 Annuity
$1,000 Dividends
Total $42000.

Expense actual $38,000.

For the past 5 years our checking account, year to year has stayed the same, so our net worth has gained by $4,000/year.... based on income/outgo.

Our total net worth increases by substantaily more dollars, adding home value increase, IBond Interest, lake house value increase.

No Income Taxes since 1989.

So.... Income... $42,000, Expense $38,000.

 

[street]

We measure our spending by our bank checking account.... month to month and year to year. (using current inflation numbers)
So: $12000. checking account

Income is simple.
$27,000 Soc Security
$14,000 Annuity
$1,000 Dividends
Total $42000.

Expense actual $38,000.

For the past 5 years our checking account, year to year has stayed the same, so our net worth has gained by $4,000/year.... based on income/outgo.

Our total net worth increases by substantaily more dollars, adding home value increase, IBond Interest, lake house value increase.

No Income Taxes since 1989.

So.... Income... $42,000, Expense $38,000.

Yep, I measure basically the same way. Only place money is removed is from one bank account, so makes it very easy to see where you been. Investments never get touched except for additions to the investments.