Khan
Gone but not forgotten
- Joined
- Aug 23, 2006
- Messages
- 6,924
As of this morning I have spent $17,000 so far this year (not including buying a car, which I last did in 1989).
The "Fog of Finances while saving for retirement" is slowly clearing... it is showing me that we are more like Gumby than the 3k/mo crowd. We live modestly in a 3 br condo and LBYM. Like Gumby, we planned to retire at the same level of living as we enjoyed while working - it has worked out that we've been able to successfully continue our lifestyle into retirement.
We're 64 and 66. This month is the first where we don't have income from a job and corresponding savings into tax deferred retirement accounts since DW has finished her part-time teaching stint. I've developed what I call my Cashflow Budget which now only has six major topics, Household, Insurance, Auto, Medical Out-of-pocket, Taxes and Personal. Everything is becoming easier since we are retired-retired, the mortage is paid and both cars are paid for.
Household includes all expenses to keep the doors open
Elect 70
Gas 120
Cable 55
Inter 25
Phone 80
HOA 320
Water 60
PropTx 450
Tot 1180/mo
Insurance includes recuring Ins expenses.
HC 300
LTC 200
Life Ins 100
Property 70
Medi Pt B 95
Vision 15
Tot 780/mo
Two Cars '98 and '01
Gas & Maint 400/mo
Out of Pocket Med 150/mo
Personal includes discretionary expenses -
Food, Clothes, Misc, Vacations 1200/mo
Total of 1180+780+400+150+1200= 3710/mo not incl Fed & State Tx
We usually have a 6-10k Vacation that isn't included here also - we went for the open-heart surgery and cardio rehab option instead - $6-10k Vacations to restart in 2008.
JohnP
Wow John, I cannot imagine having to pay 450+ a month just for property tax, I just pay 400 per year. That just blows my mind.
Where do you live? I pay $4,000+/year and I thought I was doing good. I am in Seattle.
Cindy and I pay about $800 a year in property tax. Of course, that's only on our 1/4 acre village lot. When we get the 25 acre farmette I expect that to increase. But not to the point that is $400 a month or more. Heck, that's a mortgage payment!!
This month's regular mortgage payment to the bank was $841 principal, $543 interest and $759 real property tax. That's right, $9108 per year in real property tax, and we are only in the first year of a 5 year revaluation phase-in. We have a 3 bedroom 2500 sqft house on 1/3 acre.
The plumber said that the problem was probably
caused by nearby lightning striking a utility pole
behind our house and some of the surge was
grounded through our water system. Who knows
if he is right. Anyway, there are no more leaks for
now at least.
It lives...as the economy tanks..prices of most stuff coming down...3K per month and some frugal spending and one can live quite well...