U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 03-21-2016, 09:37 PM
 
Location: Florida
5,257 posts, read 3,020,732 times
Reputation: 9595

Advertisements

About twice as much as we get now.
Reply With Quote Quick reply to this message

 
Old 03-21-2016, 09:48 PM
 
Location: Los Angeles area
14,018 posts, read 17,744,100 times
Reputation: 32309
Quote:
Originally Posted by JJGittes65 View Post
..............how much per month do you need to live on . . . not just survive . . . but be comfortable by your own standards..?
Quote:
Originally Posted by matisse12 View Post
...........................

And as stated earlier in this thread, it can be a matter of what you are willing to give up. Some people are willing to live more modestly than others. Others make do with whatever amount of money is available.
Yes, necessity is the mother of invention, and many folks make do pretty well "with whatever amount of money is available". However, the parameters of the discussion were set by the OP in his or her original post; the interest was in what different people need to "not just survive, but be comfortable by your own standards". Therefore we should expect a wide variation in the answers because people's standards of "comfort" vary so widely.

Like you, I do not need as much money to "be comfortable by [my] own standards" as some of the amounts already posted in this thread. But I have certain little luxuries that I would hate to give up, the primary one being excellent seats at world class live classical music performances about 15 or 18 times a year. Assuming an average price of $160 per ticket (I've never kept track exactly and the prices vary by organization and venue), 15 tickets would come to $2400 per year and 18 tickets would be $2880 per year. Yes, it's a luxury, but a modest luxury in the overall scheme of things (if you can stand a contradiction in terms such as "modest luxury").

Every person's story is different, which I presume is what the OP was interested in.
Reply With Quote Quick reply to this message
 
Old 03-21-2016, 11:06 PM
 
635 posts, read 405,019 times
Reputation: 3608
With house paid off [ it is]and no medical costs, about $2500 a month.


We could live on less, but assuming that "comfortable" includes some luxuries, this is about right.


Our major luxury is cruising, maybe two or three times a year. We always split travel costs with another couple or our kids, pack our food into a cooler to eat before the cruise [tons to eat after we board the ship] and the best cruise prices.


Most of my other luxuries wind up costing little or no money or even save us money. Like gardening. Plenty of delicious produce, with extra to sell, share, or barter with. Same thing with eggs from the "happiest chickens on earth."


Cooking and baking are hobbies I would never dream of giving up, and, though I rarely use coupons [too much processed stuff] I save money by buying huge sales in bulk, cooking big-batch from scratch and freezing, canning, or drying.


I love to be pampered, with massages, facials, manis, hair color and styling,pedis, hair treatments,-dancing,waxing, etc, so I get all of these once a month while living on less than $2500 a month. How? "Goddess" parties! yAll attendees bring something to eat, either something decidedly decadent, or crazy healthy [nothing in between] Somehow a box of wine always shows up. We bring our pampering supplies and skill sets and make each other feel wonderful. We also bring used clothes that are in good shape, things from around the house that we no longer use [or our kids. kids love all of the video games and such that are given out] I always bring jewelry that I have made. And we swap and we share, and we donate what is left to a womans day shelter in Denver.


Photography has become a hobby anyone can afford [ no cash? maybe someone will bring a camera to share at a "goddess" party. If not, let it be known that you want one on your local facebook "buy nothing" club]. Photography is new for me. I am pretty terrible but having fun. And I use all sorts of free youtube tutorials to keep learning.


"Saving my small part of the world" actually takes time and determination, not money, particularly if a person is skilled at


So, there are utilities, insurance, cell phone, a bit of food, gasoline,, and we have kept our internet. After $1500 for these basic and not so basic things, we still have $500 for our vacations, and $500 for grandkids, kids, repairs, and other stuff.


So, yeah, we could get by okay on less, but if being comfortable includes some real luxuries, this is what we need.
Reply With Quote Quick reply to this message
 
Old 03-22-2016, 12:49 AM
 
729 posts, read 321,147 times
Reputation: 739
Enough to splurge and eat fancy. Not that I'd do either all the time. I'm an impulse shopper and would be a hoarder.
Reply With Quote Quick reply to this message
 
Old 03-22-2016, 03:22 AM
 
71,651 posts, read 71,777,271 times
Reputation: 49241
Quote:
Originally Posted by vicky3vicky View Post
With house paid off [ it is]and no medical costs, about $2500 a month.


We could live on less, but assuming that "comfortable" includes some luxuries, this is about right.


Our major luxury is cruising, maybe two or three times a year. We always split travel costs with another couple or our kids, pack our food into a cooler to eat before the cruise [tons to eat after we board the ship] and the best cruise prices.


Most of my other luxuries wind up costing little or no money or even save us money. Like gardening. Plenty of delicious produce, with extra to sell, share, or barter with. Same thing with eggs from the "happiest chickens on earth."


Cooking and baking are hobbies I would never dream of giving up, and, though I rarely use coupons [too much processed stuff] I save money by buying huge sales in bulk, cooking big-batch from scratch and freezing, canning, or drying.


I love to be pampered, with massages, facials, manis, hair color and styling,pedis, hair treatments,-dancing,waxing, etc, so I get all of these once a month while living on less than $2500 a month. How? "Goddess" parties! yAll attendees bring something to eat, either something decidedly decadent, or crazy healthy [nothing in between] Somehow a box of wine always shows up. We bring our pampering supplies and skill sets and make each other feel wonderful. We also bring used clothes that are in good shape, things from around the house that we no longer use [or our kids. kids love all of the video games and such that are given out] I always bring jewelry that I have made. And we swap and we share, and we donate what is left to a womans day shelter in Denver.


Photography has become a hobby anyone can afford [ no cash? maybe someone will bring a camera to share at a "goddess" party. If not, let it be known that you want one on your local facebook "buy nothing" club]. Photography is new for me. I am pretty terrible but having fun. And I use all sorts of free youtube tutorials to keep learning.


"Saving my small part of the world" actually takes time and determination, not money, particularly if a person is skilled at


So, there are utilities, insurance, cell phone, a bit of food, gasoline,, and we have kept our internet. After $1500 for these basic and not so basic things, we still have $500 for our vacations, and $500 for grandkids, kids, repairs, and other stuff.


So, yeah, we could get by okay on less, but if being comfortable includes some real luxuries, this is what we need.
with photography being a passion for my wife and i , we can say it is far from cheap . like pocketbooks are to women , lens's are never one size does it all and good lenses are expensive .

but far worse is the fact that once you get bored of the stuff local to you the trips to find better and better subjects can get more and more expensive .

the worst part is whatever gear we buy we have to buy two of .

when i won the 5k from city data i decided to upgrade my camera body to the 3k nikon d800 . on top of that i needed some full frame lenses and now my wife wanted a new camera body . we ended up spending almost 10k on gear .

we had a home in the pocono's where we thought one day we would retire to . well after 5 years there that walk around the lake or walk in the woods grew stale . we realized we would go nuts trying to fill each day with this stuff so we ended up selling the house and staying right here in nyc .
Reply With Quote Quick reply to this message
 
Old 03-22-2016, 04:19 AM
 
Location: Backwoods of Maine
7,116 posts, read 8,158,301 times
Reputation: 18774
For us, some months cost more than others. There are months when we literally spend zero. Others, can go over $10K. But that is rare. We just sock our income into savings, much as we always did, and withdraw as needed.

This habit came about after a near-lifetime of running a business. It's not the same as having a regular job with a predictable salary. In my earlier years, I sometimes got paid nothing, just to make payroll. You learn to look ahead, put food and cash aside, and plan for lean months.

Nowadays, we never have lean times, but old habits die hard....
Reply With Quote Quick reply to this message
 
Old 03-22-2016, 04:51 AM
 
71,651 posts, read 71,777,271 times
Reputation: 49241
there is a big difference between how much money a month do you need vs how much a month do you want to draw . they are not the same thing . need usually refers to non discretionary items plus the items needed to carry on life . a budget filled with wants can be drastically more .

our portfolio and income can generate more then we set as a budget yearly . so our income level for need is about 60% of what we draw with the other 40% going for discretionary spending . but that budget is still not the max we can generate .
Reply With Quote Quick reply to this message
 
Old 03-22-2016, 07:48 AM
 
4,484 posts, read 4,745,031 times
Reputation: 9941
Quote:
Originally Posted by DaveinMtAiry View Post
Oh boy, here we go.....


Yeah, really. And away we go....
Reply With Quote Quick reply to this message
 
Old 03-22-2016, 07:57 AM
 
Location: New Mexico U.S.A.
25,336 posts, read 41,448,410 times
Reputation: 29410
Quote:
Originally Posted by JJGittes65 View Post
Assume that your house is paid off, you live in a low/no income tax state, and your health insurance is paid for (thru VA, or pension, or whatever), how much per month do you need to live on . . . not just survive . . . but be comfortable by your own standards..?
Quote:
Originally Posted by JJGittes65 View Post
Nope, I'm just honestly interested in if there is a consensus out there, particularly among early retirees who are actually doing it. I suspect most early retirees will come in with a number around $2500-4000 a month, under the above assumptions. Of course money doesn't guarantee happiness, but for those considering early retirement, and living frugally sooner rather than later, concrete numbers can give guidance.

I'd say that I could do it fairly comfortably on $4500 a month pre-tax (considering my hobbies and tastes), but my wife would probably want a reliable income above $6000 a month to sleep well at night and do what she wants.
We have been doing it for less than you guessed... I retired before my wife. I retired over 10 years ago.

I will say we were frugal before we retired, we made decent investments and we made a real effort to save and invest for the future.

That's about as concrete as I want to say...
Reply With Quote Quick reply to this message
 
Old 03-22-2016, 08:06 AM
 
29,782 posts, read 34,876,173 times
Reputation: 11705
Quote:
Originally Posted by JJGittes65 View Post
Nope, I'm just honestly interested in if there is a consensus out there, particularly among early retirees who are actually doing it. I suspect most early retirees will come in with a number around $2500-4000 a month, under the above assumptions. Of course money doesn't guarantee happiness, but for those considering early retirement, and living frugally sooner rather than later, concrete numbers can give guidance.

I'd say that I could do it fairly comfortably on $4500 a month pre-tax (considering my hobbies and tastes), but my wife would probably want a reliable income above $6000 a month to sleep well at night and do what she wants.
I understand your legitimate question. What we choose to considerable is based on what we have. A number of folks in here are in the five figure range. For those of us currently retired comfortable is what we have become use to. We are eight years in and life style isn't cheap. If you were to ask what we consider or use as a minimum checking account balance it might be enlightening.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top