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Old 07-30-2017, 12:30 PM
 
Location: Scottsdale, AZ
7,694 posts, read 4,731,975 times
Reputation: 28203

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Quote:
Originally Posted by BucFan View Post
Gasoline, rv spots, new tires for tow and rv. I do most cooking though while RVing (seems like I'm always buying groceries). I recently picked up a Honda generator to run the a/c if I boondock (rare).. Rv spots cost $20-40/night.
It's worse here on the left coast. $50/night is typical, if you can even get a reservation.

I found this site that links RV people with others who will let you boondock on their property, for free:

https://www.boondockerswelcome.com/
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Old 07-30-2017, 02:29 PM
 
Location: Las Vegas
13,890 posts, read 25,340,170 times
Reputation: 26388
I spend MUCH less!
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Old 07-30-2017, 02:52 PM
 
Location: Florida
4,370 posts, read 3,708,767 times
Reputation: 4111
Does not matter what others spend but you have to be prepared for your needs.

You can make up a budget and adjust your life style so that they match when you retire. But inflation and unknown events can cause you to spend a lot more if you have the resources.

My guess is that most retires live on less in retirement as far as necessary daily expenses. But depending on assets will spend more for day to day living and maybe a lot more for life's unknown events.
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Old 07-31-2017, 05:46 AM
 
29,784 posts, read 34,885,423 times
Reputation: 11710
We spend more on groceries, eating out, home/lawn maintenance and care, transportation, Amazon, Costco and to some extent clothes along with cable, phone etc. Just about everything other than mortgage.
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Old 07-31-2017, 08:58 AM
 
Location: SoCal
13,260 posts, read 6,351,451 times
Reputation: 9873
It's true, I could reduce daily expense. But the kicker is the travelling money. Of course I had planned to travel the first five years so that was no surprised.
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Old 07-31-2017, 01:27 PM
 
Location: Los Angeles area
14,018 posts, read 17,751,136 times
Reputation: 32309
None of this "save money by being retired" business applies to me:


1. Clothing/dry cleaning costs: I never had any dry cleaning costs while working, and that's still true. I didn't have to maintain an expensive wardrobe while working, and that's still true. Business casual was the order of the day, and I still wear those clothes frequently. No "retirement savings" in this department.


2. Parking costs: I always had free parking at work, so no "retirement savings" in this department.


3. Commuting costs: The last 14 years of my career I had short commutes, and I probably drive more now because I have more time to go places and do things, so no "retirement savings" in this department.


4. Eating out: Employee cafeteria was cheap, for one. Also, I do not enjoy cooking so I don't eat at home any more since I retired. No "retirement savings" in this department.


5. More time for going places and doing things equals spending more money on same. No "retirement savings" for me here either.
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Old 07-31-2017, 06:48 PM
 
Location: NY / Fl.
364 posts, read 297,848 times
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Quote:
Originally Posted by Submariner View Post
"The report didn't measure actual spending, but how much income an individual had left after taxes. It included salary and wages, Social Security benefits, and distributions from retirement accounts and pensions."

My pension is a lot less than how much I was earning before I retired.

I did not pay income taxes before, and I do not pay into income taxes now. So my ratio of pre-tax income to after-tax income has remained the same, comparing working income to retired income.
Yep, My pension is 50% of my full time job. I was spending 500 dollars a month to commute from Staten Island to Upper Manhattan by car. Tolls, gas, time sitting in traffic, stressful beyond belief some days, so thats a big saving on money and well being. NY State is surprising good on not taxing state pensions.It's only been one full year so I agree there is a learning curve. I did travel a lot so that pushed up expenses.In my 2nd year the picture is a bit clearer, my spending is in line with my retirement income. SS will basically go into savings. Lots of good advice here, bottom line in my opinion is you can easily spend more with all your free time. The trick I think is to manage a limit on either a monthly or quarterly basis for 'fun' money, trips, non essential spending.
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Old 07-31-2017, 09:17 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,632 posts, read 39,998,659 times
Reputation: 23790
Quote:
Originally Posted by NewbieHere View Post
It's true, I could reduce daily expense. But the kicker is the traveling money. Of course I had planned to travel the first five years so that was no surprised.
Or... accelerated spending can have to do with 'Staying Home'

Unexpected budgetary Costs that have significantly changed since my 'retirement planning...'
  • Property Taxes + 400%++
  • Healthcare +400% ++
  • Health needs +200%
  • Insurance costs +100%
  • Earned Interest rate decline - 100%
  • Daily Transportation (capital costs ) + 50%


Extensive Travel also was a bit of a surprise additional expense,
1) Previous employ PAID me to travel (tho I expected I would do 4 trips / yr as retiree, I actually do 4 trips / month)
2) I had not planned on as extensive trips as I have been able to do (some are several months each)
3) Didn't realize the 'ages (eras)-of-retirement' would be so significant to ability / desire / opportunity / expense.
4) STRONG US Dollar has availed far more international options than planned for.
5) Living in Asia and seeing Europe's 'infirmed' come for annual care illustrated how many people do this (LOTS!) 15m/ yr according to "Patients without borders".

Never thought I would acquire 10 additional properties in retirement (But dramatically additional income has become necessary to cover the above dramatically additional expenses.)
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Old 08-01-2017, 09:32 AM
 
Location: Southern California
23,785 posts, read 8,294,729 times
Reputation: 15503
I'd say MOST of you here have high roof over your head expenses that begin to own you...owning house, taxes, repairs etc etc...thank goodness I got rid of the only condo I owned as a single person way back 5 yrs after it "bought me".
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Old 08-01-2017, 11:20 AM
 
Location: Middle of the ocean
31,710 posts, read 20,001,474 times
Reputation: 45760
Our spending will probably go up due to travel, but our cost of living will go down due to moving to a lower COL area.

Right now a large part of DH's income goes to the pension and union, so that will offset the drop in pay. Comes out about the same. In a decade we can start to take from the 401(k), and other retirement will kick in, plus child support will end.

The first 3 years will be the hardest because we will still be in a high COL area. We've planned for everything.
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