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Old 10-14-2016, 11:07 AM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
5,433 posts, read 4,080,880 times
Reputation: 7244

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I'm not understanding why $500 a month for meals out is so outlandish.
As a single person it's a hassle to cook for yourself and there is some wastage.
I am not a big spender either.
Lunch at deli or fast food 5 to 10. Standing is line I often see people spending more than me. Let's say an avg of 7.50 for lunch.
Dinner usually take out or really inexpensive sit down. 10 to 15 plus tip sometimes. I never order alcohol. Let's say avg 12.50
I didn't inc breakfast as I usually skip or just eat oatmeal or cereal.
But the total is $19 a day x 30 days. that's $597 a month.
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Old 10-14-2016, 11:13 AM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
5,433 posts, read 4,080,880 times
Reputation: 7244
Quote:
Originally Posted by StealthRabbit View Post
+/-, who knows... ANY Taxable income is a cream treat for future politicians / hungry government agencies that have been growing, staff / pensions but not required to grow local revenues. (they are running LOW(er) on wage income !)


equally "On-Topic" for our age 54 retiree, might be a bolstered ROTH now...to use as income to keep his MAGI in obamacare 'subsidy' range.

Usually I consider my ROTHS as a tool for future occasional high tax years (during traditional retirement), such as when selling investment props or taking stock gains, or for Min. Dist. after age 70, BUT AFFORDABLE healthcare (subsidies) pre-age 65 might require pulling income from ROTH rather than taxable 'Qualified accts' such as 401k. As soon as ROTH 401k became an option, I advised those eligible to consider swapping to ROTH 401k, rather than Taxable 401k. I roll Traditional to ROTH each time I am under a 7% IRS tax liability. (Like this yr...Great yr for ROTH conversions as I balanced to ZERO net earnings, LOTS of expenses and income property 'improvement' offsets. I LUV getting subsidies to increase future valuations) Retirement 'creative finance' has SO much latitude Age 54 is gonna LUV it!

I doubt there is much value to discussing $90 pizzas in this thread (other than the usual "Please-Puff-me-up" insecurities. / high need of missing the 'strokes (giggles)' of subordinates... Yes, The Emperor still likes his new clothes, and they fit FINE, even after PIZZA!)

$10 Tuesday Papa Murphy works once / month for our 'special treat', (If we don't get our usual 1/2 price $5 large Pizza near closing time 'overstock'). but... even that 'treat' can have negative affect on my $5.99 denim trousers. Heaven forbid a new wardrobe, I still have excellent clothes I bought (sewed) @ 4-H in Jr High! Frostline Kits ... These are "Sew nice", I bought some more on eBay last year (<$20 - FREE shipping), they will last another 50 yrs, so I'm all FIXED up!!, as long as I flee the Pizza places! To think that I 'delayed' this expense for 50 yrs, and was able to buy it for $40 off!!! SCORE! (hint:... that is what it takes to retire at age 54 and live COMFORTABLY on $25k/ yr! (in a USA major metro) Millions are doing it
I just wanted to say I enjoy your posts. Not that I want to emulate your lifestyle, but some of your strategies are how I think too. I live cheap on some things that are not as important to me so I can spend more on things that are. Love your real estate strategies.
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Old 10-14-2016, 11:15 AM
 
6,875 posts, read 7,267,992 times
Reputation: 9785
^^ I eat out all the time, And hardly ever cook
Aslowdodge, that's how I live NOW, working as a SINK.

But in retirement I will NOT be able to do that.
I have every intention of going back to cooking for myself once retired. I'll have to I won't be able to afford eating out as I do now.
My first retirement years I'm going to try to make it off just my pension, and MAYBE tapping savings. (to delay Soc Sec.)

My eating out will be with friends for social engagements. Not just for me to have lunch or a normal dinner.
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Old 10-14-2016, 11:26 AM
 
625 posts, read 381,197 times
Reputation: 698
I used to save money like crazy till around 45. Used tires, mowing my lawn, shoveling my walk, fixing my car, wife even cut my hair, big time cheapskate. My wife used to argue your are picking up nickles in front of a steamroller. Better to not waste time saving and spend more time earning.

Now I have lawn service, newer car under warranty, go out to eat, go on vacations, hire folks to fix my house and my income went up $200,000 a year and expenses went up $20,000 a year. I never understood why my friends used to say I wish I could afford to save money like I did. Now I know why.
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Old 10-14-2016, 11:45 AM
 
6,875 posts, read 7,267,992 times
Reputation: 9785
^^ Florida, I'm lost. I don't get what you're talking about...
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Old 10-14-2016, 11:55 AM
 
Location: Albuquerque NM
1,655 posts, read 1,521,066 times
Reputation: 3627
Quote:
Originally Posted by MadManofBethesda View Post
First of all, it isn't a $300 haircut. My wife spends roughly $250 when she goes to the salon and has her hair cut, styled, colored with highlights, blow-dry, etc. (The other $50 is about what I spend including $15 in tips to the stylist and shampoo person.) I can't believe everyone here is making such a big deal about that. How about it ladies? Those of you who live in high cost-of-living areas, do you really feel that is way out of line? I know when she had her hair done in Sydney, Australia, during our two-month trip last year, the bill was over $500AUS, which was roughly $370 at the time IIRC.
More than seven years ago, I was spending $175 in Albuquerque for highlights, cut, and styling. Since my hair had so much gray, my hairdresser had to dye it first so that extra step added to the cost. However I had it done only every 8 weeks so that reduced the overall cost (e.g., how long you can go between highlights can depend on the difference between your natural hair color and the highlights and whether you are willing to let a few roots show and my natural hair is light brown with some gray). I'm sure the cost today would be close to $250. I developed a scalp issue and had to discontinue the highlights so am now naturally gray. Currently I pay $70 for a haircut every six weeks to include tip.

I could probably pay less if I looked around but my hairdresser has her own shop so all the money goes to her and not some corporation, she is very nice, and her husband left her a couple of years ago so I know money is tight. I make a good salary and my philosophy is to pay people who perform services for me a decent wage and I consider them friends and generally have long term relationships with them. This also includes my biweekly housekeeper, the lawn guy, and the pet sitter. I tip waiters generously although I don't eat out that much except when on business travel or vacations, tip carpet cleaners, etc. People who make very good incomes like DINKS and then are stingy to service workers or have to get the best deal possible from working people really bother me. However once I retire, I may have to cut down on number or frequency of services.

Last edited by PJSaturn; 10-14-2016 at 01:04 PM.. Reason: Fixed technical glitch in quote.
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Old 10-14-2016, 12:04 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,526 posts, read 39,903,732 times
Reputation: 23629
I love to cook, International work assignments gave me a perpetual fill of eating out. 3x / day as a family in VERY economical and GREAT foodie locations (Singapore, Thailand, Malaysia, China). While in Europe we only ate out 3x / week when at home, but we traveled every week, so.... the kids preferred to eat on those days too ...

Home cook'n is now my preference, but not always possible.

I treat lots of friends who could never afford it, to fancy dinners (in and out).

Last time I sold property I celebrated by taking friends out to a fancy meal. We enjoyed it a lot, but it was a once / lifetime event for them. I prefer to share travel than meals, as food is so 'normal', easy to forget experience. People really enjoy getting free airtickets to go see family / sites / funerals / job interviews...

age 54 is heading to SA.... EXCELLENT for food (in and out). I make it a point to NEVER miss the many monthly potlucks, as several cooks are ranchers, so they bring the 'farm'! BBQ is HUGE in TX, so of course, neighbors and friends like to share their custom sauces and smoking flavors. (I'm in!!)

Summering in Portland, OR allows choice of "The most food trucks / capita". Quite inexpensive, very interesting, and quite friendly (eating / camping in the rain is a 'bonding' experience).

Costco Chickens... 20+ servings per $4.99 bird (salads, burritos, soup, casseroles...),

Turkey.... Thanksgiving is coming $0.19 birds. I buy 3+ and they go in the BBQ and make soup for 6 months.

Eating is one of my favorite things ... I still maintain High School weight, but NOT HS W-I-D-T-H

$100 / month keeps me 'in-line'! (Good thing cuz I really LOVE Ice Cream!) make it every week in summer.
http://www.city-data.com/forum/membe...-ice-cream.jpg
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Old 10-14-2016, 12:59 PM
 
71,461 posts, read 71,629,249 times
Reputation: 49027
i can eat a costco chicken in one sitting by myself
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Old 10-14-2016, 01:26 PM
 
Location: Portugal
5,917 posts, read 2,883,413 times
Reputation: 11303
Quote:
Originally Posted by StealthRabbit View Post
+/-, who knows... ANY Taxable income is a cream treat for future politicians / hungry government agencies that have been growing, staff / pensions but not required to grow local revenues. (they are running LOW(er) on wage income !)
Well this doesn't make fears of govt taking 401ks any more reasonable, including your bizarre notion that local governments can take money from a federal tax advantaged savings plan to make up for pension shortfalls.

Quote:
Originally Posted by selhars View Post
Oh, please. Like Congress has never passed "ridiculous" rules and regs before?

Remember when they passed a change that lessened went after early MILITARY retiree pensions just a couple of years ago? And after an uproar they undid it saying "Oh, we didn't mean to do that." Yeah , right. If they'll go after MILITARY retirements -- they'll sure as hehl go after anyone else's.
What changes are you talking about?

There is a big difference between changing future pension amount and taking actual savings that has account values. Government playing around with pensions rules and COLAs is way different than believing they'll enact rules to just swipe money people have depositied in tax advantaged savings accounts.
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Old 10-14-2016, 01:32 PM
 
Location: RVA
2,164 posts, read 1,264,175 times
Reputation: 4451
It is WAY too much work to live cheap like Stealth! Dear lord, what's the point of retirement if you have to work that hard to make it work? I find it a lot easier to have found a job that pays real well that I enjoy and will give me 4 times the income for life, and still enjoy myself as much as I want!! Drive a car that burns used cooking oil? Why on earth?
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