How much do you spend per year (account, increase, income)
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Thats pretty cool, you live in FC so it makes sense.
My property taxes alone are $11K. A lot of my spending is more related to the fact that I work in New York. Lunches every day, dinners out pretty often, etc. Then there's commutation.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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Quote:
Originally Posted by dazzleman
My property taxes alone are $11K. ..
not worked since age 49 (by choice)
My prop taxes are $12k
Health insurance $12k
other insurance $ 5k
food $ 1k
living expenses $ 5k
travel ~30% of time ~$10k
(I could live very happy, healthy, and inexpensively in a place with low (no) Property taxes and affordable health care ... just those 2 items are ~70% of my current CoL )
Plan D is to invest home $$ into income producing property and leave the USA for about 10 yrs, to a destination with CHEAP and effective medical care (There are many to chose from)
This is all true. But, at the same time, if one is socking away money in the bank or the market for the future, and putting enough into their retirement accounts to be on track for their retirement goals, and they still have disposable income, why not spend it on the things you enjoy. I am a big believer in saving first, but I know people who squirrel everything away for retirement and live on a shoestring in order to do so. Life is short, enjoy it if you can...and remember, there is always the possibility that your could drop dead before you are old enough to take that first retirement distribution.
Yes, I agree with you. I half wonder if our economy won't completely crash within the next 10-15 years anyway. So, if a person is doing the responsbile thing and saving at least 10% or more for retirement, not racking up debts, etc, then spending 10K a year on eating out seems ok. The only problem I see is that eating out a lot tends to be not so healthy and could lead to weight gain and other health problems.
A lot of the oil that comes in. Is it refined? Besides I think 700Billion dollars of oil we buy from overseas. So that is 700Billion of the 1.9Trillion dollars a year. So that leaves 1.2Trillion left to other resources. But what counts is the percentages of who gets most of our trade money:China 19.3%, Canada 14.24%, Mexico 11.12%, Japan 6.14%, Germany 4.53% (2009).
And why is Japan's government corrupt?
I don't know what % of the oil that comes in is refined. Much of our imports from Canada and Mexico are probably in oil.
I don't know why Japan's government is corrupt. Why is any country's government corrupt??? Because a few power hungry people set out to dominate others and the country's citizens let it happen. Happens in every country in varying degrees.
Isn't it an odd coincidence how many people earn $1,000,000 during a lifetime, and spend $999,999. Any high school graduate can easily earn $2,000,000, and if they'd also spend $999,999, they'd be millionaires.
you can earn 1 million bucks over a lifetime doing most anything. folks who live long enough can get a million in just social security .so what?
there is a big difference between earning a million and saving a million. the majority of america most likely has a million bucks earned flow through their fingers over a lifetime easily. not much of america has 1 million in liquid assets not including the home they live in.
Isn't it an odd coincidence how many people earn $1,000,000 during a lifetime, and spend $999,999. Any high school graduate can easily earn $2,000,000, and if they'd also spend $999,999, they'd be millionaires.
In 40 years, perhaps.
Except that at 25K a year, it would take 80 years to make that easy $2 mil gross pay.
Isn't it an odd coincidence how many people earn $1,000,000 during a lifetime, and spend $999,999. Any high school graduate can easily earn $2,000,000, and if they'd also spend $999,999, they'd be millionaires.
Yep, very true. The problem is humans don't look at their true needs, but instead compare themselves to others, usually those who are at or a step above them on the economic ladder and then spend accordingly.
Except that at 25K a year, it would take 80 years to make that easy $2 mil gross pay.
That's where the power of compounding comes in.
If you earn 25K a year, and take $200 a month (almost 10%) from that and put it in a boring, plain vanilla mutual fund that invests in a mix of stocks and bonds, such as Vanguard Balanced Index (VBINX), and you get a 6.98% return (the fund's annualized returns over the last 15 years) this is how much you'd have after:
If you can find a top notch fund with great returns without crazy volatility, you can do even better as is the case with a fund like T. Rowe Price Capital Appreciation, which has returned 10.11% over the last 15 years.
200 a month at 10% over 40 years is: $1,275,356
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