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Myself:
About $20k property taxes and maintenance of 3 condos (soon to drop to about half this figure because one condo is getting sold).
A little over $6k health insurance, but I get a tax credit (refund) for more than half of it on account of ACA.
About $5k food & minor things like vitamins, socks, small household etc items.
About $4k various taxes other than property taxes.
About $8k various travel.
No car.
The largest unexpected/emergent expense in retirement so far wasn't very large: a $1.8k special assessment from the condo association for some problem recently discovered in our 130 year old condo building that the city demands we fix.
$21k Rent
$15k Vehicle payments/fuel
$7k Food, clothing and household items
$4k Home entertainment subscriptions
$8k Social outings (lunches, dinners, happy hours, sporting events, concerts etc.)
$9k Leisure travel
$8k Hobby collecting
$0k Healthcare
Biggest unforseen expense so far is paying state income tax. When I retired 8 years ago, I couldn't have guessed that I'd be living in SC now. My previous two states (NY & PA) didn't tax my pension.
We spend about 95K a year right now. Emergencies can come out of savings, or we can reduce our annual spending to cover stuff.
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Largest expense since his Semi-Retirement:2020 Chevy Volt E-Car- 23k
Combined Yearly Income- 68K
Yearly Expenses- 44k
Husband is semi-retired working 4-5 months a year. He takes his Social Security in 4.5 yrs
I work full time.
Goal:looking to downsize to reduce monthly expenses by 1/3
.
Last edited by TruckeeTami; 03-08-2024 at 10:12 AM..
I don't really know. Mortgage with taxes and insurance is $1337 a month, but I always paid more. No car payment, driving the same 2010 car. This might be the year I replace it. It's too small and uncomfortable.
Got whacked this past year with having to go on Medicare and pay those premiums. Never had to pay for health insurance before except my last four years of work when they told us we had to contribute. But then for seven and a half years after retirement from that job, it was paid for until I hit 65 and had to get Medicare. Still don't pay for the employer-provided secondary, but it's not as good. I got bills this year for the first time for an ultrasound and a biopsy. They were small, but still. I was spoiled.
The good news is that my former employer reimburses us once a year for the Medicare premiums, so I will get that back.
But last year I needed dental work (80% is reimbursed through insurance) and will need more this year.
I had to get both a new water heater and furnace in Q4 of last year. That was fun. Besides that, I finally got the same plumber who replaced the water heater to move the water heater over so that I could access my unit shutoff valve, which the brainiacs that build the complex put BEHIND the water heater where it could not be reached. If something ever happened in my unit, I had no way to shut off the water. Turned out the valve handle was broken off and the valve itself stuck, so rather than try to force it, the plumber drilled a new hole in the pipe just above the old valve and put in a new one with a handle and moved the WH over so I can reach it easily.
But the bigger expense last year was just under $10K to update the kitchen. New cabinets, counters, backsplash, new sink. Kept my floor because I like it. One of these days I'm going to sell that condo, and it needed updating. Still a few things to do like closet doors and carpet replacement in the bedrooms, but the major things are done.
Now, as I've mentioned elsewhere on here, I've taken a second home (apartment) to check out the city where my daughter lives, so I'm paying a rent plus a mortgage, but rents are still reasonable here. I've been asked to work on a major project for a while, though, so I'll have the money to pay for it. If worst comes to worst, I can always take SS, but I'd rather wait to FRA or later to do that. But generally speaking, I'm in better shape financially than I ever was in my working years. No debt except the mortgage.
I have no idea what I spend on food. I guess I could track that, but it seems like an unnecessary chore. I'm frugal with buying the food that I keep at home and cook, but I also eat out or order food fairly regularly.
I don't really know. Mortgage with taxes and insurance is $1337 a month, but I always paid more. No car payment, driving the same 2010 car. This might be the year I replace it. It's too small and uncomfortable.
Got whacked this past year with having to go on Medicare and pay those premiums. Never had to pay for health insurance before except my last four years of work when they told us we had to contribute. But then for seven and a half years after retirement from that job, it was paid for until I hit 65 and had to get Medicare. Still don't pay for the employer-provided secondary, but it's not as good. I got bills this year for the first time for an ultrasound and a biopsy. They were small, but still. I was spoiled.
The good news is that my former employer reimburses us once a year for the Medicare premiums, so I will get that back.
But last year I needed dental work (80% is reimbursed through insurance) and will need more this year.
I had to get both a new water heater and furnace in Q4 of last year. That was fun. Besides that, I finally got the same plumber who replaced the water heater to move the water heater over so that I could access my unit shutoff valve, which the brainiacs that build the complex put BEHIND the water heater where it could not be reached. If something ever happened in my unit, I had no way to shut off the water. Turned out the valve handle was broken off and the valve itself stuck, so rather than try to force it, the plumber drilled a new hole in the pipe just above the old valve and put in a new one with a handle and moved the WH over so I can reach it easily.
But the bigger expense last year was just under $10K to update the kitchen. New cabinets, counters, backsplash, new sink. Kept my floor because I like it. One of these days I'm going to sell that condo, and it needed updating. Still a few things to do like closet doors and carpet replacement in the bedrooms, but the major things are done.
Now, as I've mentioned elsewhere on here, I've taken a second home (apartment) to check out the city where my daughter lives, so I'm paying a rent plus a mortgage, but rents are still reasonable here. I've been asked to work on a major project for a while, though, so I'll have the money to pay for it. If worst comes to worst, I can always take SS, but I'd rather wait to FRA or later to do that. But generally speaking, I'm in better shape financially than I ever was in my working years. No debt except the mortgage.
I have no idea what I spend on food. I guess I could track that, but it seems like an unnecessary chore. I'm frugal with buying the food that I keep at home and cook, but I also eat out or order food fairly regularly.
I buy my food with a credit card, and in the months when I don't buy any plane tickets or anything travel related (which is maybe 4 months in a year), my entire credit card bill is approximately 100% for food. Since I know what my bill is in such months, that is how I know how much I spend on food.
Burning through $120,000 per year. Biggest financial shock was health insurance before Medicare. Took early retirement at 61, great severance and 18 months insurance then into the market we went. For the wife and I it was $2,200 per month. Ouch.
90,000 a year give or take. couple a months a year long travel.
house payment 1064 a month.
new car this month 299 a month for 3 months then will pay it off.
food 800 month with cleaning supplies ect
pet food raw diet 2 standard poodles and a bulldog 210 a month
cat lady's cat food for feral cats 70 month
medicare and plan g, wife hd plan g me full plan g and d 602 a month counting our part b
The rest we just blow.
App $16K for property taxes (our home plus the family farm in another state that I inherited).
App $4K for car payments.
App $7200 this year for health insurance.
Travel money set aside varies but app $3000 is added to my fund, and extra money is set aside for various things (winter power bills, household needs).
'Unexpected'. This is what hit us hard: A rental house on the farm required a new roof: $15K. Right now, the septic tank may need replaced and we were quoted $10K (my brother neglected the property), and lots of other things need fixed.
I couldn't give a good ball-park figure on things like food.
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