Anonymous
Post 01/18/2013 08:41     Subject: interesting article on retirement
Anonymous wrote:What kid expenditures do you have? Are you having kids at 55?!

Why not blow some money now instead of waiting until you're old to have fun with your money?




We are saving $250,000 per child for college. We will be 62 and 59 when the youngest graduates from college.
Anonymous
Post 01/18/2013 08:40     Subject: Re:interesting article on retirement
Anonymous wrote:
Anonymous wrote:I didn't add in utilities, life and car insurance, etc. DH blows $24,000 a year on his Am Ex.


On what??!


Food, alcohol, technology, stuff for hobbies. Nothing spectacular.
Anonymous
Post 01/17/2013 23:44     Subject: Re:interesting article on retirement
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:I didn't add in utilities, life and car insurance, etc. DH blows $24,000 a year on his Am Ex.


On what??!


I don't think this is bad. Only $2k/month. We generally spend about $6k/month on our 2 credit cards.


But what are you spending it on in retirement is the question. The credit card is just a medium unless you're paying off debt.
Anonymous
Post 01/17/2013 23:19     Subject: interesting article on retirement
I'm gonna guess hookers and blow...
Anonymous
Post 01/17/2013 17:31     Subject: Re:interesting article on retirement
Anonymous wrote:
Anonymous wrote:I didn't add in utilities, life and car insurance, etc. DH blows $24,000 a year on his Am Ex.


On what??!


I don't think this is bad. Only $2k/month. We generally spend about $6k/month on our 2 credit cards.
Anonymous
Post 01/17/2013 17:27     Subject: interesting article on retirement
What kid expenditures do you have? Are you having kids at 55?!

Why not blow some money now instead of waiting until you're old to have fun with your money?


Anonymous
Post 01/17/2013 10:49     Subject: Re:interesting article on retirement
Anonymous wrote:I didn't add in utilities, life and car insurance, etc. DH blows $24,000 a year on his Am Ex.


On what??!
Anonymous
Post 01/17/2013 10:31     Subject: Re:interesting article on retirement
I didn't add in utilities, life and car insurance, etc. DH blows $24,000 a year on his Am Ex.
Anonymous
Post 01/17/2013 10:22     Subject: Re:interesting article on retirement
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
It's all dependent on your standard of living. We have a paid off home and spent $94,000 last year. Included in that was virtually no travel at all - just one $3,000 vacation.


HOLY SHIZZ - WTF are you spending that much money on that ISN'T travel? Are a couple thousand dollar bottles of wine in there?


Big items -

Taxes - Real and personal property - $10,600

Food (groceries, eating out) - $15,000

Childcare - $10,800

Charitable contributions - 11,400


Which still leaves almost $50K -- the average person's gross salary -- unaccounted for. So I ask again, what are spending your money on?
Anonymous
Post 01/17/2013 09:15     Subject: interesting article on retirement
Anonymous wrote:totally different discussion on this same article here

http://www.bogleheads.org/forum/viewtopic.php?f=10&t=109023&newpost=1585309


thanks for the link
Anonymous
Post 01/17/2013 00:14     Subject: interesting article on retirement
Anonymous wrote:will it exist? probably. in its current form? incredibly unlikely.

they have to make tweaks to it to make it financially feasible in the future, unless you think it is reasonable for 50% of your children's paychecks to go toward SS and Medicare.

It was never intended to be as large as it is or used for as long as it is (life expectancy). And with the the Boomers retiring? Yeah, it's about to get ugly.


Yes, something that can't continue forever, won't.
Anonymous
Post 01/16/2013 23:08     Subject: interesting article on retirement
Anonymous wrote:
Anonymous wrote:OK, but without a mortgage, I have a hard time believing these things add up to $8K/month.


Oh they do. Plus kid expenses.


fine, I can see it if you have daycare expenses, but this is about retirement. You shouldn't have to pay daycare in retirement.

Anonymous
Post 01/16/2013 22:48     Subject: interesting article on retirement
Fine wines.
Also, I was thinking of developing a cocaine habit - because why the hell not?
Anonymous
Post 01/16/2013 22:42     Subject: interesting article on retirement
Anonymous wrote:OK, but without a mortgage, I have a hard time believing these things add up to $8K/month.


Oh they do. Plus kid expenses.
Anonymous
Post 01/16/2013 22:41     Subject: interesting article on retirement
Anonymous wrote:
Anonymous wrote:Lots of ways to spend money - huge donations to charities, churches and alma maters, helping your kids pay for PhDs without crushing debt, funding the grandkids' education, buying vacation homes, helping the kids with down payment on homes and really really nice cars.


But these are all "blow money" options. Sure, I'd give $10K to a nice charity if I had nothing else to do with the money. This just highlights that one really doesn't need THAT much money to retire comfortably.


Sure, right, but why the heck am I working my brains out and saving 30 or 40% of our net income, unless I get to blow money in retirement?