Danmar
Thinks s/he gets paid by the post
Athena: would your % of after tax spend be higher than 15% for travel?
Travel Budget
- Thread starter Birchwood
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ronocnikral
Full time employment: Posting here.
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not retired, but we spend about $15-$20k, or about 5-10% of my compensation.
Next year, I'm going heli skiing and we would like to get to Africa to see some friends. Hopefully a few nights with Singita is in order....
But, the real treat has been the last couple years we've spent our vacations with Aman. A splurge, but worth it!
Next year, I'm going heli skiing and we would like to get to Africa to see some friends. Hopefully a few nights with Singita is in order....
But, the real treat has been the last couple years we've spent our vacations with Aman. A splurge, but worth it!
Have approx $10,000 budgeted for traveling starting Jan 2016 (approx 10% of budget). This will be our first full year with a strict budget so will be a test year. We can adjust after that. I see that lots of people travel heavy first several years. With the current market and me a little skittish I'm going to be conservative. Plus need a full year of how taxes shake out between what I save from taxable account withdrawls and what I get hit from stock sales & dividends. That being said 2015 should be a year with little investment income taxes.
Not retired yet, but that is our present range with respect to after-tax spending. OTOH, our plans are for it to be 50% or more of total spending in early years of retirement; house will be paid off and there are many long international dive and adventure trips that our jobs have prevented us from taking.
(Like Athena53, that spending is not set in stone and is what will enable us to have a highly variable withdrawal rate. Some years may involve trips to the local riverfront with a canoe, rather than Raja Ampat or a Fiji liveaboard...)
athena53
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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Maybe not this year because we spent a ton fixing up one house to sell and we're also spending money to get the new one the way we want it. In a typical year, yes, it would be >15%.
ChicagoGal
Recycles dryer sheets
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Not retired yet. Higher expenses than usual this year (7-night Caribbean cruise in April, just returned from 11-night Alaska cruise), and was at about 12% of after tax spend.
In retirement, estimate is that total expenses will go down slightly even though travel budget will go up, so should be 15-20% at least in the earlier years.
In retirement, estimate is that total expenses will go down slightly even though travel budget will go up, so should be 15-20% at least in the earlier years.
House Divided
Dryer sheet aficionado
We budget 6000/yr for travel which is about 12%, but we usually take trips that don’t require airfare. We have a place at the beach which we spend about 10 days a month at and we have an RV that we usually take on trips to mountains and area lakes about 10 times a year. When we plan something big like a cruise or cross country RV trip we will take that out of savings but those are usually every 3 years or so.
