Anonymous
08/01/2019 17:36
Subject: s/o living on $25k or $36k a year
Anonymous wrote:Anonymous wrote:Anonymous wrote:1. Get debt free
2. Save a pile of cash
3. Move to a low cost of living area
4. Retire or work when only interested in something you love
5. Profit
Get rid of any recurring payments that aren't necessary and reduce the ones that are necessary. One car, one insurance payment, cheap cell phone plan, no cable TV, cheap internet. $36k buys a lot when you don't owe anyone any money
It does. But here's the problem - I have yet to find a LCOL area I want to live in full time. There are plenty where I'd spend 4-6 months, but none I want to live in full time.
This is OP - we actually do live in a pretty LCOL area (left DC in part to move somewhere cheaper). There are some people who live here on fixed incomes, so obviously it's possible to live very inexpensively. Maybe I'm just too bougie for what it takes to do that. ("Maybe" = obviously too bougie.)
I should be more precise - there aren't any LCOL area I'd want to retire to full time. There are plenty I'd move to for work.
Anonymous
08/01/2019 17:24
Subject: s/o living on $25k or $36k a year
Anonymous wrote:Anonymous wrote:1. Get debt free
2. Save a pile of cash
3. Move to a low cost of living area
4. Retire or work when only interested in something you love
5. Profit
Get rid of any recurring payments that aren't necessary and reduce the ones that are necessary. One car, one insurance payment, cheap cell phone plan, no cable TV, cheap internet. $36k buys a lot when you don't owe anyone any money
It does. But here's the problem - I have yet to find a LCOL area I want to live in full time. There are plenty where I'd spend 4-6 months, but none I want to live in full time.
This is OP - we actually do live in a pretty LCOL area (left DC in part to move somewhere cheaper). There are some people who live here on fixed incomes, so obviously it's possible to live very inexpensively. Maybe I'm just too bougie for what it takes to do that. ("Maybe" = obviously too bougie.)
Anonymous
08/01/2019 17:21
Subject: s/o living on $25k or $36k a year
Anonymous wrote:Anonymous wrote:Anonymous wrote:And these FIRE People also pull stunt of putting kids in "guardianship" so they go to college for free, get ACA and subsidized housing due to no income and hide assets in LLC. They also use food stamps and welfare
My Mom always told me folks not working under 60 are just unemployed they aint retired.
Lol
Nah, but I am not playing any of the games with anything...Invested well/lucky...living on investment income...Also not earning 25K - 36K/yr.
Biggest expense is healthcare, btw
This to me is true early retirement. I have no interest in living off of $36k/year. Frankly, if I am thinking about retiremeent, and my travel budget is less that $36k/year, I'd probably think I'm not ready to retire.
Anonymous
08/01/2019 17:19
Subject: s/o living on $25k or $36k a year
Anonymous wrote:1. Get debt free
2. Save a pile of cash
3. Move to a low cost of living area
4. Retire or work when only interested in something you love
5. Profit
Get rid of any recurring payments that aren't necessary and reduce the ones that are necessary. One car, one insurance payment, cheap cell phone plan, no cable TV, cheap internet. $36k buys a lot when you don't owe anyone any money
It does. But here's the problem - I have yet to find a LCOL area I want to live in full time. There are plenty where I'd spend 4-6 months, but none I want to live in full time.
Anonymous
08/01/2019 17:18
Subject: s/o living on $25k or $36k a year
Anonymous wrote:Anonymous wrote:And these FIRE People also pull stunt of putting kids in "guardianship" so they go to college for free, get ACA and subsidized housing due to no income and hide assets in LLC. They also use food stamps and welfare
My Mom always told me folks not working under 60 are just unemployed they aint retired.
I fully funded my kids college with 529s before retirement. I do not use food stamps or welfare. I have a paid for house on a golf course.
Where does your health insurance come from?
Anonymous
08/01/2019 16:55
Subject: s/o living on $25k or $36k a year
I am starting to think that FIRE people are just moochers. They try to get all the benefits of someone living in poverty while taking advantage of friends and family for vacations and pass me downs. Nothing illegal about this, but they seem to be textbook wellfare queen. Of course all wealthy people take advantage of the system, but FIRE seems so much more obvious.
Anonymous
08/01/2019 13:00
Subject: s/o living on $25k or $36k a year
We live in a upscale neighborhood, a great schools, safe, inside the beltway. ...on a much lower income than most. Our house is paid off and we don't outsource much. No maids, no nanny, no gardner, husband fixes plumbing, household repairs and even fixes our cars. Not many neighbors are 'self sufficient' like us. We work less 'job' hours but we have to spend a lot of time maintaining the house, lawn, kids, etc. Everything is a trade off money for time, time for money.
That being said we have trained our kids on car maintenance, yard maintenance and even some home repairs so they will have the skills in life. I think it's pathetic how helpless most people are in the DMV. Being helpless and unable to fix stuff is expensive - many are working to support a big house and expenses, maids, childcare - it's a hamster cage.
That being said we have trained our kids on car maintenance, yard maintenance and even some home repairs so they will have the skills in life. I think it's pathetic how helpless most people are in the DMV. Being helpless and unable to fix stuff is expensive - many are working to support a big house and expenses, maids, childcare - it's a hamster cage.
Anonymous
08/01/2019 10:37
Subject: s/o living on $25k or $36k a year
My brother is 45 and lives in rural Maine. He will earn about $25K this year. He has 2 kids--16 and 18.
Do you live near your family? If not how do you afford going to see them?
We visit him. He rarely visits us. If he does, it's because we have subsided plane tickets. My dad and I live in DC.
- Do you have hobbies? What are they?
He and his boys ski, snowshoe, go camping, hiking
- Do you ever travel for fun? If so, what's your approach? Not really.
A big trip for them is heading to the Maine beaches for the day. When I want my kids to spend time with their cousins, I pay for my brother and his kids to come on vacation with us.
- Do you ever find yourself really wanting something that is outside your MMM budget (like a trip to Australia, or some expensive shoes)? Do you ever given in to those urges or do you just figure you'll get over it?
It's not even in the realm of his consideration. That said, our mom made sure we were well traveled and both of us have seen the world. His kids however have not.
- What do you eat most days? Do you ever buy the expensive mustard or the fancy tomatoes?
He eats very well. Groceries by him are much less than here. He grows vegetables in the summer and cans/freezes them. He doesn't buy fancy mustard or tomatoes because he doesn't enjoy them any more than the non fancy ones. To him, the value just isn't there.
- What do you do for yourself, that you see other people spending money on for others to do for them? Do you make your own clothes, or grow your own vegetables, or...?
He has a lovely vegetable garden
- Are most of your friends in the same boat? If not how do you do it when your friends want to get together at a restaurant, or to go see a concert, or whatever? You just say no and have them over for a potluck instead, or...?
Pretty much his entire town lives about the same
- What sort of house or apartment do you live in? Did you pick that place in order to be able to spend very little? Do you like your home?
He has a 3bd/2ba house on 10acres that he purchased 3 yrs ago for $89K. He loves his house and he does a lot of the repairs the we in DC would outsource. This year he put a new roof on the house and installed new windows. He is rather cheap when it comes to heat--65 is standard in the winter. He tells me to put on more clothes when we visit in the winter.
- What do you think are the big misconceptions about how you live? What do you wish others understood about your approach to money - what do we outsiders usually get wrong?
He is MUCH better at living within his means and budgeting than I am. He really is one of those people that is happy with what he has and wants no more.
Do you live near your family? If not how do you afford going to see them?
We visit him. He rarely visits us. If he does, it's because we have subsided plane tickets. My dad and I live in DC.
- Do you have hobbies? What are they?
He and his boys ski, snowshoe, go camping, hiking
- Do you ever travel for fun? If so, what's your approach? Not really.
A big trip for them is heading to the Maine beaches for the day. When I want my kids to spend time with their cousins, I pay for my brother and his kids to come on vacation with us.
- Do you ever find yourself really wanting something that is outside your MMM budget (like a trip to Australia, or some expensive shoes)? Do you ever given in to those urges or do you just figure you'll get over it?
It's not even in the realm of his consideration. That said, our mom made sure we were well traveled and both of us have seen the world. His kids however have not.
- What do you eat most days? Do you ever buy the expensive mustard or the fancy tomatoes?
He eats very well. Groceries by him are much less than here. He grows vegetables in the summer and cans/freezes them. He doesn't buy fancy mustard or tomatoes because he doesn't enjoy them any more than the non fancy ones. To him, the value just isn't there.
- What do you do for yourself, that you see other people spending money on for others to do for them? Do you make your own clothes, or grow your own vegetables, or...?
He has a lovely vegetable garden
- Are most of your friends in the same boat? If not how do you do it when your friends want to get together at a restaurant, or to go see a concert, or whatever? You just say no and have them over for a potluck instead, or...?
Pretty much his entire town lives about the same
- What sort of house or apartment do you live in? Did you pick that place in order to be able to spend very little? Do you like your home?
He has a 3bd/2ba house on 10acres that he purchased 3 yrs ago for $89K. He loves his house and he does a lot of the repairs the we in DC would outsource. This year he put a new roof on the house and installed new windows. He is rather cheap when it comes to heat--65 is standard in the winter. He tells me to put on more clothes when we visit in the winter.
- What do you think are the big misconceptions about how you live? What do you wish others understood about your approach to money - what do we outsiders usually get wrong?
He is MUCH better at living within his means and budgeting than I am. He really is one of those people that is happy with what he has and wants no more.
Anonymous
08/01/2019 10:30
Subject: s/o living on $25k or $36k a year
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:$36k also goes a long way if you're healthy. You note that the PP mentions no medical expenses.
Also if you have no kids or they do no paid activities or lessons.
My kids run cross country and play soccer. $75 per season
And the soccer cleats and running shoes? Do those magically appear?
Our league has a box of outgrown cleats out at every game that are free for the taking.
And my daughter just did a university sports camp. She was the only kid wearing a regular tshirt, shorts, sneakers, vs specialized athletic gear and basketball shoes. Maybe when she's older she'll be bugging for expensive sport specific clothes, but until that time I'm saving my money.
Anonymous
08/01/2019 10:20
Subject: s/o living on $25k or $36k a year
Anonymous wrote:1. Get debt free
2. Save a pile of cash
3. Move to a low cost of living area
4. Retire or work when only interested in something you love
5. Profit
Get rid of any recurring payments that aren't necessary and reduce the ones that are necessary. One car, one insurance payment, cheap cell phone plan, no cable TV, cheap internet. $36k buys a lot when you don't owe anyone any money
+1
I share a phone plan with my dad and brother's family. $20 unlimited everything on Tmobile. 1 paid for car, insurance $40 month at Geico, internet is $45 with spectrum, house is paid off, no credit card debt or student loans, electric/water/gas is less than $150 combined.
Anonymous
08/01/2019 10:02
Subject: s/o living on $25k or $36k a year
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:$36k also goes a long way if you're healthy. You note that the PP mentions no medical expenses.
Also if you have no kids or they do no paid activities or lessons.
My kids run cross country and play soccer. $75 per season
And the soccer cleats and running shoes? Do those magically appear?
What are you so bitter about? Do people that have figured out money management better than you really make you angry?
Anonymous
08/01/2019 09:59
Subject: s/o living on $25k or $36k a year
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:$36k also goes a long way if you're healthy. You note that the PP mentions no medical expenses.
Also if you have no kids or they do no paid activities or lessons.
My kids run cross country and play soccer. $75 per season
And the soccer cleats and running shoes? Do those magically appear?
Our league has a box of outgrown cleats out at every game that are free for the taking.
Anonymous
08/01/2019 09:57
Subject: s/o living on $25k or $36k a year
In the mid aughts, I moved to DC and started off as a GS 9. I recall my take-home pay was somewhere along the lines of $1350 per paycheck after all the deductions for taxes/healthcare/retirement contribution/etc.
$1350 x 26 = $35,100
And in that chapter of my life, I lived in a group house. I was able to travel domestically, pay student loan debt, and explore quite a bit in DC. I think it can be done!
$1350 x 26 = $35,100
And in that chapter of my life, I lived in a group house. I was able to travel domestically, pay student loan debt, and explore quite a bit in DC. I think it can be done!
Anonymous
08/01/2019 09:56
Subject: Re:s/o living on $25k or $36k a year
Anonymous wrote:2 adults $1520 in base expenses under 20k a year in base expenses
Food $600
Health/medical $125
Transportation/Gas $70
Clothes $150
Utilities $250
Phone $100
Personal $100
Gifts $125
The rest per month $3500 42k a year all would be much lower if our income wasn't as high
Fun $500
Travel $500
House $2500
Car insurance?
Life insurance?
Do you rent?
Water/gas/electric/internet is $250?
No house repairs?
Is toilet paper, etc rolled into the $600... how about cleaning supplies and house repairs?
Anonymous
08/01/2019 09:49
Subject: s/o living on $25k or $36k a year
Anonymous wrote:Anonymous wrote:And these FIRE People also pull stunt of putting kids in "guardianship" so they go to college for free, get ACA and subsidized housing due to no income and hide assets in LLC. They also use food stamps and welfare
My Mom always told me folks not working under 60 are just unemployed they aint retired.
Lol
Nah, but I am not playing any of the games with anything...Invested well/lucky...living on investment income...Also not earning 25K - 36K/yr.
Biggest expense is healthcare, btw