Average monthly expenses in retirement (states, drugs, salary, dating)

[marc515]

Originally Posted by isabella20

We live in a high COL area, Hawaii, but do what we can to keep our monthly expenses low. A big chunk of what we spend is on health care and we're fortunate to have retiree medical benefits through my ex-employer. Our total monthly expenses are $1,600. About $500 of this is for medical (insurance premium, prescription and doctor co-pays). Another $500 is for food. The remaining $600 covers ..

Auto insurance: $54.00
Auto registration and safety check: $9.00
Gasoline: $30.00
Utilities: $100.00 (gas, electric, water)
House insurance and property tax: $67.00
Internet and phone: $53.00

That leaves $313 for misc. which is anything from toothpaste to house maintenance. Most of the time we don't spend all of it, so can save for something big that might come up in the future.

We like to live simply. We find we're happiest that way, but what works for us might make another couple miserable. So, lifestyle is definitely as important, if not more important, than the part of the country in which you live when it comes to how much you spend.

What costs a lot here is food, gasoline, and electricity (35 cents a kw/h). Property taxes are low and we don't need to spend much on clothes and shoes. Also, we don't need to heat our house in the winter.

High COL????

Your internet and phone is almost as high as your house insurance and property tax! I would love to pay only $67/month for property tax and house insurance.

You are in an ultra-low COL area

[Boompa]

$31-33,000 seems to be pretty constant here in Sierra Vista AZ

[Escort Rider]

Originally Posted by marc515

High COL????
Your internet and phone is almost as high as your house insurance and property tax! I would love to pay only $67/month for property tax and house insurance.
You are in an ultra-low COL area

That's right; poster Isabella20 from Hawaii must have made a typo in her post. Also, there is nothing listed for housing expense - no mortgage payment, no rent, nothing.

[texdav]

I beleive that house insurance and taxes indicates she owns a home probably outright even if it seems low. kinhd of hard to give a variable cost on maintenance really.That is why such estimates othe than basic bill cost is so useless if not voer a actaully keep reord over say one year and comparisons to the next;then only good for one area and life style.

[Themanwithnoname]

Originally Posted by Escort Rider

That's right; poster Isabella20 from Hawaii must have made a typo in her post. Also, there is nothing listed for housing expense - no mortgage payment, no rent, nothing.

Considering she:

1. Is retired
2. knows her Electricity is 35 cents a kw/h
3. Mentions house upkeep

Would it not be logical to conclude that the house is paid for?

It DOES happen you know.

[Escort Rider]

Originally Posted by Themanwithnoname

Considering she:
1. Is retired
2. knows her Electricity is 35 cents a kw/h
3. Mentions house upkeep
Would it not be logical to conclude that the house is paid for?
It DOES happen you know.

Yes, I know it happens; mine is paid for too. You are right about the rest; I should have come to that conclusion, but I was too hasty.

[in_newengland]

I'm glad a few people mentioned dental costs. I have two credit cards going and both consist only of dental bills. I use Care Credit which charges no interest if you pay it all off in 6 months but still, $2000 in 6 months is a lot for me. I also had to slap an emergency root canal/crown onto a regular cc. Then there are eyeglasses--I pay extra to get the bifocals without the line and I have really bad eyesight so the strong prescription costs quite a bit more than the average. This past weekend I was in a conversation with someone who needs a hearing aid and it will cost $4000. It's the medical stuff that gets you and Medicare doesn't cover it--so watch out, 50 yr olds, medical can go really high.

[in_newengland]

Also, no one has a dog or a cat?
$$$$$$$$$$$$$$$$$$$$$$$$$$$

[mzfroggez]

Originally Posted by Escort Rider

That's right; poster Isabella20 from Hawaii must have made a typo in her post. Also, there is nothing listed for housing expense - no mortgage payment, no rent, nothing.

I recently ran a new budget just to check myself for the umpteenth time on the "buy or rent" debate raging in my head. I've noticed on a lot of budgets that things such as maintenance or replacement don't get mentioned or the amounts "escrowed" monthly for them is negligible. While I am hoping that I don't ever buy a car again, realistically I figure I will have to so there is a chunk I designate in car expenses that is set aside for a future purchase.

I think I count as encumbered funds a good 200.00 per month for housing maintenance and the same amount under auto expenses for replacement - I need to double check if I also have a maintenance amount for the car. I know I do not include in those columns things such as tags, inspections or car tax. They are a given so they get a separate area, paid annually but escrowed monthly.

I put aside a chunk for everything I can think of under medical, knowing full well if my bills for medical ever come close to what some predict, I'm dead so I can delete maintenance and replacement costs or whatever.

I am amazed at some of the amounts for food/800.00 a month for two people? Cannot imagine. That seems extremely high so people must be counting eating out, something that will happen not even as often as a blue moon. Thank goodness I can outcook most any restaurant I ever go to - and generally, I can beat their ambiance, particularly if their concept of ambiance is sitting at a table, al fresco, overlooking the ........parking lot...............

[Umbria]

If I'm thinking of the right person, Isabella now lives in Santa Cruz, Ca - in a mobile home park. This is an old thread.