Retired Bogleheads -- How much did you spend last year?

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Bustoff
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Retired Bogleheads -- How much did you spend last year?

Post by Bustoff »

Since retiring our annual household expenses for the two of us have run between $35,000 to $40,000 but never exceeded $40,000.
That includes everything.

We have one vehicle. Modest house no mortgage. No debt.

As far as I'm concerned we are not making any overt attempts to live frugally. However, my wife claims moths fly out of my wallet when it's opened.

Last year our total expenses came in at $37,700.

I'm curious how this compares with other retired Bogleheads.
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bertilak
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Re: Retired Bogleheads -- How much did you spend last year?

Post by bertilak »

I keep hoping to reach a "steady state" so I can give a meaningful answer to that!

Over the past two years I had to replace my entire septic system at a cost of almost $30K and I paid down my mortgage by $180K. Still some outstanding work for the place where the new septic system went. More big bucks.

If it isn't one thing, it's another!
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Will do good
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Re: Retired Bogleheads -- How much did you spend last year?

Post by Will do good »

Bustoff wrote:Since retiring our annual household expenses for the two of us have run between $35,000 to $40,000 but never exceeded $40,000.
That includes everything.

We have one vehicle. Modest house no mortgage. No debt.

As far as I'm concerned we are not making any overt attempts to live frugally. However, my wife claims moths fly out of my wallet when it's opened.

Last year our total expenses came in at $37,700.

I'm curious how this compares with other retired Bogleheads.
How do you managed to keep it so low? What's your secret?
How old are you? What's your health insurance and real estate tax bill? You must be in a low cost area?
Thanks.
SpaceCowboy
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Re: Retired Bogleheads -- How much did you spend last year?

Post by SpaceCowboy »

Will do good wrote:
Bustoff wrote:Since retiring our annual household expenses for the two of us have run between $35,000 to $40,000 but never exceeded $40,000.
That includes everything.

We have one vehicle. Modest house no mortgage. No debt.

As far as I'm concerned we are not making any overt attempts to live frugally. However, my wife claims moths fly out of my wallet when it's opened.

Last year our total expenses came in at $37,700.

I'm curious how this compares with other retired Bogleheads.
How do you managed to keep it so low? What's your secret?
How old are you? What's your health insurance and real estate tax bill? You must be in a low cost area?
Thanks.
Never quite understand these threads. Just between property taxes, health insurance, house insurance, car insurance and umbrella insurance, I'm around $30k. Maybe I'm over insured or others are underinsured. Our biggest discretionary expenses are vacations, health/beach clubs and a housekeeper.
sport
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Re: Retired Bogleheads -- How much did you spend last year?

Post by sport »

Much of the difference in spending levels is due to location. Some big cities, notably New York, San Francisco, Washington, Chicago, and Boston have a very high cost of living. Other areas are much less. If you live in a rural area, things can get even less expensive. Of course, these are generalities, and there are exceptions.
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Sheepdog
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Re: Retired Bogleheads -- How much did you spend last year?

Post by Sheepdog »

Your expense total is low, but not as low as some people I know. If you don't have it, you can't spend it. Some people have more than enough to live on with extra available, but still can't splurge.
My wife and I, both retired, averaged annual spending of $67,451 over the last 5 years...low of $55,871 and high of $78,524. The highest one included a new auto, above normal medical expenses (dental and hearing). Another higher year, ($71,298 in 2013) included a cross country rail park tour and prepaying for an ocean cruise to be taken in 2014 which totaled 22% of our spending that year. Actual "living expenses" are just part of our spending total. Included in last year's spending were charitable donations (14% of total), restaurants and entertainment (12% of total), and quite a bit of other items which we don't have to spend on and, if we didn't have the money, we wouldn't have. We do have 2 autos...yes we could do with one, but life wouldn't be the same with one. The point is...we can spend more without hurting our investment balance.
We now look at it this way....We did our major budget cutting in our earlier years, before retiring, so that we can spend more on things today without feeling that we are hurting our future.

edit: By the way, we live in a low cost midwest area
Last edited by Sheepdog on Tue Jan 12, 2016 12:32 pm, edited 1 time in total.
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Re: Retired Bogleheads -- How much did you spend last year?

Post by Watty »

sport wrote:Much of the difference in spending levels is due to location. Some big cities, notably New York, San Francisco, Washington, Chicago, and Boston have a very high cost of living. Other areas are much less. If you live in a rural area, things can get even less expensive. Of course, these are generalities, and there are exceptions.

+1

The national median household income is only around $55K which would not go very far in those cities but could provide a comfortable middle class lifestyle in much of the country. Some areas also have very low property taxes which also makes a big difference.

The OP spent $37,700 last year but with a paid off house that might be similar to having the median income of $55K but paying rent or a mortgage. That might not be overly frugal in a year without any big expenses(replacement car, big trips, new roof, large medical bills, etc.)

For many retired people things like food, utilities, a medicare supplement, car and home insurance, and some modest medical costs, will cover their core expenses and that does not have to cost all that much.
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Re: Retired Bogleheads -- How much did you spend last year?

Post by itstoomuch »

Location,location, location
Mid valley, oregon. About 35-45.
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Re: Retired Bogleheads -- How much did you spend last year?

Post by dbCooperAir »

Bustoff wrote:Since retiring our annual household expenses for the two of us have run between $35,000 to $40,000 but never exceeded $40,000.
That includes everything.
I would be curious how much of that is Healthcare and LTC (if you have it)?
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Re: Retired Bogleheads -- How much did you spend last year?

Post by whatusername? »

dbCooperAir wrote:
Bustoff wrote:Since retiring our annual household expenses for the two of us have run between $35,000 to $40,000 but never exceeded $40,000.
That includes everything.
I would be curious how much of that is Healthcare and LTC (if you have it)?
I'm curious as to how that compares to your pre-retirement expenses.
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Bustoff
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Re: Retired Bogleheads -- How much did you spend last year?

Post by Bustoff »

Our 2015 property taxes are $3000 for a 1200 sq ft home. The Midwest is much lower than similarly situated people we know in the New York State. On the other hand, friends in North Scottsdale with a bigger house have property taxes lower than ours. We are still a few years away from Medicare eligibility and currently insured through the exchange. We do not carry LTCi.
Last edited by Bustoff on Tue Jan 12, 2016 1:02 pm, edited 1 time in total.
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Re: Retired Bogleheads -- How much did you spend last year?

Post by Spirit Rider »

dbCooperAir wrote:
Bustoff wrote:Since retiring our annual household expenses for the two of us have run between $35,000 to $40,000 but never exceeded $40,000.
That includes everything.
I would be curious how much of that is Healthcare and LTC (if you have it)?
Like most of these threads, "how much", "what amount", etc... The dollar figures are irrelevant. For example:

Who had a $3M portfolio when they retired? Did not take into account lifestyle and expenses. The useful question is something more like, who had 40X expenses in their portfolio when they retired?

When did your portfolio reach $100K? Did not take into account a persons salary or when this happened (inflation). The useful question is something more like, when di you first reach 1X, 2X, 4X, etc... your salary?

How much someone spends in retirement is entirely a function of their personal circumstances, what possible action can anyone take from anyone's else's number.
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dbCooperAir
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Re: Retired Bogleheads -- How much did you spend last year?

Post by dbCooperAir »

Spirit Rider wrote:
dbCooperAir wrote:
Bustoff wrote:Since retiring our annual household expenses for the two of us have run between $35,000 to $40,000 but never exceeded $40,000.
That includes everything.
I would be curious how much of that is Healthcare and LTC (if you have it)?
Like most of these threads, "how much", "what amount", etc... The dollar figures are irrelevant. For example:

Who had a $3M portfolio when they retired? Did not take into account lifestyle and expenses. The useful question is something more like, who had 40X expenses in their portfolio when they retired?

When did your portfolio reach $100K? Did not take into account a persons salary or when this happened (inflation). The useful question is something more like, when di you first reach 1X, 2X, 4X, etc... your salary?

How much someone spends in retirement is entirely a function of their personal circumstances, what possible action can anyone take from anyone's else's number.
I agree lifestyle will make a huge difference. But I think the cost of healthcare and LTC is somewhat close across the board (depending on area). I know for me healthcare will most likely be my largest expense. It also happens to be an area I can't see to wrap my head around, most retired people seem to complain about healthcare cost, I question how much it really effects the budget.

In other words I have a good handle on a my expenses as they sand today, I have and idea what they will be 20 years from now if I don't change my current lifestyle with exception to healthcare.

Maybe healthcare cost is not as big as of deal as it has been out to be, I would be happy to hear that as well.
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Re: Retired Bogleheads -- How much did you spend last year?

Post by joebh »

dbCooperAir wrote:But I think the cost of healthcare and LTC is somewhat close across the board (depending on area).
Sorry, I have to disagree.

With the ACA, the cost of healthcare is tightly tied to income level, and thus will probably not be somewhat close across the board at all.

LTCi is strongly dependent not only on area, but the specifics of your policy and the specifics of your age and health situation. For example, the cost of my policy is about half that of my wife's (even though she is 1 year younger).
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Bustoff
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Re: Retired Bogleheads -- How much did you spend last year?

Post by Bustoff »

Spirit Rider wrote: had 40X expenses in their portfolio when they retired?
I don't know.
Spirit Rider wrote:when di you first reach 1X, 2X, 4X, etc... your salary?
I don't know.

"Numbers" had zero relevance in our decision to retire.

Our mental, physical, and spiritual well being were the only actionable factors for us.
Last edited by Bustoff on Tue Jan 12, 2016 2:05 pm, edited 1 time in total.
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dbCooperAir
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Re: Retired Bogleheads -- How much did you spend last year?

Post by dbCooperAir »

joebh wrote:
dbCooperAir wrote:But I think the cost of healthcare and LTC is somewhat close across the board (depending on area).
Sorry, I have to disagree.

With the ACA, the cost of healthcare is tightly tied to income level, and thus will probably not be somewhat close across the board at all.

LTCi is strongly dependent not only on area, but the specifics of your policy and the specifics of your age and health situation. For example, the cost of my policy is about half that of my wife's (even though she is 1 year younger).
I'm not disagreeing because I truly don't know. Are we saying the Healthcare cost in reality does not mean all that much? If you have a lower income ACA has you covered, if high income it does not matter?

I should have been more clear when I said LTC, I did not mean to imply LTC insurance. Not sure if the OP has LTC insurance or if he was self insuring, etc.
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furwut
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Re: Retired Bogleheads -- How much did you spend last year?

Post by furwut »

Now entering my third year of retirement.

Ist year: $26,000
2nd year: $27,000

And those are for the entire year. It helps to be mortgage free but my condo remains my largest expense followed by food. My goal this year is to cook much more often. I also don't have a car so getting around by bike, walking or subway is inexpensive.
jeff1949
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Re: Retired Bogleheads -- How much did you spend last year?

Post by jeff1949 »

About $43K last year not counting the cruise ($9000 extra for the once a decade cruise). We could easily trim that by the $5000 we spent on my alma mater's athletic teams.
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Re: Retired Bogleheads -- How much did you spend last year?

Post by joebh »

dbCooperAir wrote:
joebh wrote:
dbCooperAir wrote:But I think the cost of healthcare and LTC is somewhat close across the board (depending on area).
Sorry, I have to disagree.

With the ACA, the cost of healthcare is tightly tied to income level, and thus will probably not be somewhat close across the board at all.

LTCi is strongly dependent not only on area, but the specifics of your policy and the specifics of your age and health situation. For example, the cost of my policy is about half that of my wife's (even though she is 1 year younger).
I'm not disagreeing because I truly don't know. Are we saying the Healthcare cost in reality does not mean all that much? If you have a lower income ACA has you covered, if high income it does not matter?

I should have been more clear when I said LTC, I did not mean to imply LTC insurance. Not sure if the OP has LTC insurance or if he was self insuring, etc.
Ah, I see.

I just don't see healthcare and long-term healthcare costs as "somewhat close across the board". They can vary vastly, depending on a large number of variables.

For many, these costs matter a great deal. For some, not so much.

I think it's the "potential" healthcare costs that worry many. Without sufficient insurance, a major health issue in retirement can be a financial disaster.
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Re: Retired Bogleheads -- How much did you spend last year?

Post by dbCooperAir »

joebh wrote:
I think it's the "potential" healthcare costs that worry many. Without sufficient insurance, a major health issue in retirement can be a financial disaster.
Agree completely, unfortunately I feel many people will have to make a choice to live or buy insurance. I have seen first hand what long term care can do to ones pocket book, its not pretty, that much I know.

As an example if I take the OP's budget you could double that to cover long term care for one person.
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Re: Retired Bogleheads -- How much did you spend last year?

Post by itstoomuch »

dbCooperAir wrote:
Bustoff wrote:Since retiring our annual household expenses for the two of us have run between $35,000 to $40,000 but never exceeded $40,000.
That includes everything.
I would be curious how much of that is Healthcare and LTC (if you have it)?
Age 65/68.
Ltci ~$2600 together, (2 individual but family contracts. 14 ya (?)), current benefit ~1054days, ~$200/day, 5% compounding, survivor waiver of premium on first death and no claims.
Medicare Advantage, ~ $2400 together plus 20% deductible, minor drug Copays. Includes subsidized athletic memberships. Still cheaper than 1-bronze plan @6000/yr obamacare pre-medicare, and cheaper than $8400/1, 80/20 assigned plan, pre-Obamacare. :mrgreen: .
Dental for spouse alone was $5000 for each last 4 years.
:greedy
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Re: Retired Bogleheads -- How much did you spend last year?

Post by Spirit Rider »

Bustoff wrote:
Spirit Rider wrote: had 40X expenses in their portfolio when they retired?
I don't know.
Spirit Rider wrote:when di you first reach 1X, 2X, 4X, etc... your salary?
I don't know.

"Numbers" had zero relevance in our decision to retire.

Our mental, physical, and spiritual well being were the only actionable factors for us.
You failed to get my actual point. People like to frame questions in absolute numbers when finances are always relative to personal circumstances,

Your last sentence is about intangibles that is a total Red Herring logical fallacy.
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Re: Retired Bogleheads -- How much did you spend last year?

Post by littlebird »

27 years into early retirement (the "no-go" phase).

The last time I tallied up a whole year's spending was 3 years ago. It came up to approx. $33,500. We no longer travel, due to age and health reasons.

Our retiree healthcare insurance is an indemnity policy. We pay the 20% medicare co-pay until $2000/person. Then fully covered. This costs us $52/month total above the $208 total for medicare. Spouse reached the $2000 cap 2x in 27 years. Rx coverage is included and is comparably good. Last year we had, in addition, about $10,000 in non-medical homecare expenses not covered by any insurance. This year we've not needed any. Some years we have large dental bills; some years not. We have (relatively) large expenses for home health supplies and equipment.

We pay about $1100/year prop tax on a 2150 sq ft house on a 1/2 acre with an unobstructed distant mountain view (we're not in a school district-this is unique in U.S. I've been told). We pay about $800/year in HOA fees to live in our Mega "active senior" community which offers every cultural, recreational and social activity imaginable at very tiny added costs. Our food costs are moderate. Living in the desert we have no lawncare costs, very low clothing replacement costs.

We got rid of the 2nd car as soon as we retired and considered it a luxury to only have to maintain 1 car. Last year we bought a new Sienna van. We make no effort to be frugal and spend easily on things to make our lives more comfortable, convenient, safe and secure. But not much more is left to buy at this point. And since we came to maturity in a different era, there are many things we never got used to and just don't need. At some point costs may soar if/when long-term home or institutional care is needed. I believe we're ready for at least a certain number of years.
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1210sda
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Re: Retired Bogleheads -- How much did you spend last year?

Post by 1210sda »

I've been retired for 14 years. I'm spending about the same in total as before I retired. The categories that I'm spending on are what's different. 1210
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Re: Retired Bogleheads -- How much did you spend last year?

Post by rec7 »

We are at 18k a year but it does not take much to make us happy. I could live even cheaper but the neighborhood would not be as nice.
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Re: Retired Bogleheads -- How much did you spend last year?

Post by Qtman »

We spent too much, but who is to say any of us will be here next year?
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Re: Retired Bogleheads -- How much did you spend last year?

Post by bklyn96 »

We are cautious spenders; we don't hold back but aren't frivolous. Downtown Brooklyn, both retired 3+ years with one of us having well above average medical expenses. Mortgage on coop paid-off. No travel given spouse's health problems. 12-month expenses average $70,000
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Re: Retired Bogleheads -- How much did you spend last year?

Post by cfs »

Bustoff wrote: . . . I'm curious how this compares with other retired Bogleheads . . . .
Ahoy, shipmate!

Everyone is different. All our expenditures are paid from our pensions, and the boring SWAN aka The Lowest Rated Fund remains untouched.

Thank you.
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Re: Retired Bogleheads -- How much did you spend last year?

Post by The Wizard »

I'm retired for 34 months, but I bought a new vehicle in December, $50k total, $38k cash and $12k borrowed.
Would have preferred to do all cash, but just could not wait another 6+ months to save up more. :(

Other routine expenses and travel expenses for 2015 were on top of that.
So do I win for 2015?
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Re: Retired Bogleheads -- How much did you spend last year?

Post by mouses »

I pay about $12,000 property tax for a modest 1100 sq ft house, waterfront. Coming up, $30,000 or more for a septic system, $7000 for house painting and misc. house repairs. Insurance, medical, dental, pet expenses, I go through about $60,000 average a year.
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Re: Retired Bogleheads -- How much did you spend last year?

Post by SQRT »

Spirit Rider wrote:
How much someone spends in retirement is entirely a function of their personal circumstances, what possible action can anyone take from anyone's else's number.
Agree. Where is the "geek" when you need her?
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Re: Retired Bogleheads -- How much did you spend last year?

Post by S&L1940 »

we bounce between 40K & 50K - usually closer to 50,000
spikes when taking a cruise or replacing HVAC, appliance and kitchen upgrades will be in the future
live in a higher cost area; Florida insurance goes up because of the old folks here (which includes us)
seeking to keep to 40K and under, simply gotta concentrate a bit
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Re: Retired Bogleheads -- How much did you spend last year?

Post by Toons »

Debt Free
40k last year.
10k was various insurance.
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obgyn65
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Re: Retired Bogleheads -- How much did you spend last year?

Post by obgyn65 »

About 45-50k. Single, no mortgage.
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Re: Retired Bogleheads -- How much did you spend last year?

Post by littlebird »

Spirit Rider wrote:
what possible action can anyone take from anyone's else's number.
One can decide to move to a lower COL area when one see's what available out there.

One can decide to loosen up the purse strings when one sees that one is spending much less than others when one can afford to spend more.

I retired long ago, when I had nothing but my own instincts to rely on. A thread like this would have given me more confidence.

And -- if you read much on this forum you might get the impression that a very large income is needed to retire. This thread refutes that. I found it very interesting. That's why I chose to participate in it.
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Re: Retired Bogleheads -- How much did you spend last year?

Post by 4nursebee »

Thank you everyone for posting and explaining for those of us yet to get there.
Thank you.
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Robert44
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Re: Retired Bogleheads -- How much did you spend last year?

Post by Robert44 »

Live in the Midwest. ages 77 and 69, both retired. No debt, two cars. $41k spent in 2015. No travel. Lots of eating out.
Income is only SS and investment income. No pensions.

I liked this thread. Made me sit down and see where our money was going. I thought our total would be higher, because we want for nothing.
Robert44
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Re: Retired Bogleheads -- How much did you spend last year?

Post by Robert44 »

I forgot, the $41k does not include Federal taxes paid, which does boost things up quite a bit since I have to do a RMD and our SS is taxed.
anonforthis
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Re: Retired Bogleheads -- How much did you spend last year?

Post by anonforthis »

Love this thread. We are still working but we can easily manage to live on 35k-40k a year.
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blueblock
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Re: Retired Bogleheads -- How much did you spend last year?

Post by blueblock »

This thread is making me feel like a spendthrift. I'm still in my first year of retirement, but I budgeted for $5,000 per month and ended the year with a tidy surplus. In my own defense, expenses included buying a used pontoon boat ($3,000), a new car (trade-in + $4K), landscaping ($2K), a "casino vacation" and a $500 holiday meat order, so I can certainly live on less if I need to.

My health care expense is $670/month, which doesn't include dental, but I've taken good care of my teeth for 25 years and don't expect any sudden changes there, knock on wood.
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Re: Retired Bogleheads -- How much did you spend last year?

Post by HIinvestor »

H retired 3 years ago. Our spending didn't change much, except we had finished paying all our kids' tuitions and college expenses and finished paying the mortgage. We traveled some then and a bit more now. Our living expenses are still under our income so we end up with 25-35% left over after paying all our expenses as well as our D's room & board & expenses. We have significant medical expenses that are covered under our expenses as well and have excellent health insurance. H also has Medicare, which I will add when I am old enough.

The cost of living in HI is much higher than many other places, especially the cost of housing and food. It's still home and where we enjoy living. We spend several times what you do (OP), but I'm not sure that's relevant as it's still well below our annual income and we continue to live below our means.
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GerryL
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Re: Retired Bogleheads -- How much did you spend last year?

Post by GerryL »

Have just been wrapping up end of year reconciliation in Quicken, which always tells me what my expenses look like as the year proceeds. First full year in retirement looks like I am right at $40K, including taxes and a month-long trip to Europe. As the year wound down, I was pleasantly surprised to see that number since that was my estimate -- but I had regarded the trip as a splurge above and beyond my planned budget.
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LowER
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Re: Retired Bogleheads -- How much did you spend last year?

Post by LowER »

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Wagnerjb
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Re: Retired Bogleheads -- How much did you spend last year?

Post by Wagnerjb »

Bustoff wrote:
Last year our total expenses came in at $37,700.

I'm curious how this compares with other retired Bogleheads.
Our expenses will be a whole lot more. I am not 65 yet and I will probably spend close to $37,700 on medical insurance and medical out of pocket costs alone.
Andy
k4carbon
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Re: Retired Bogleheads -- How much did you spend last year?

Post by k4carbon »

Sold my company in 2014 and retired March 2015. Last year had a lot of expenses preparing for retirement (new home and many home improvements, solar, new cars, etc.) For 2016 we have budgeted $96K. No current income but large nest egg and cash to live on for next 6 years and then start tapping retirement and brokerage funds and SS. Live in high cost area of San Diego - real estate tax is $12K. No debts but pay for house-keeping, yard help, bundle of insurance policies for everything except LTC. 64 and wife is 63. Scrimped my whole life and now am enjoying the fruits of my labors. This about 2/3 of pre-retirement expenses.
carolinaman
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Re: Retired Bogleheads -- How much did you spend last year?

Post by carolinaman »

I have not compiled my 2015 expenses yet but they should be comparable to 2014 which were $90,000. That includes some major dental expenses ($6900) and trips to the Holy Land and Maine. I excluded the purchase of a new car and some major home maintenance expenses which are not every year expenses. Our spending is probably about $75,000 without extraordinary items. Our SS and pension covers our normal spending plus a nice cushion.
The Wizard
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Re: Retired Bogleheads -- How much did you spend last year?

Post by The Wizard »

I don't monitor my expenses by category, neither back when employed or now in retirement.
So I suppose I could compute my 2015 expenditures in a few weeks after I do my income taxes for the year.
It would be something like:
Adjusted Gross Income for 2015,
minus State and Federal Income Taxes paid,
minus the INCREASE in my various after-tax savings and investment accounts from 1/1/15 through 12/31/15.

But as noted in my earlier post in this thread, my after-tax accounts DECREASED by a nice lump sum due to a new vehicle purchase.

Anyhow, this would be the all-inclusive method to compute this figure...
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rixer
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Re: Retired Bogleheads -- How much did you spend last year?

Post by rixer »

2015 was the first year the wife and I were both retired all year. I was curious to know exactly how much we spent last year too. We really didn't budget anything, we just spent what we thought was appropriate.
We live in Ca and property taxes are low because of prop 13 (about ($2,100), the home is paid for and so are the two cars.
We went on 3 whiz bang vacations ( for us anyway) and also had to spend over $6,500 in dental care.

Total expenses for 2015 = $52,500.
Ron
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Re: Retired Bogleheads -- How much did you spend last year?

Post by Ron »

In the last 5 years, we've averaged $110-$120k/year, both retired and both in our mid/late 60's.

Living expenses are probably just a tad higher than average since we're in a NYC "bedroom community" (a lot of folks travel to the city for their jobs).

Also, we've spent a lot on home improvements (upgraded kitchen, installed whole-house automatic backup generator, new driveway, new fencing, etc.) along with the purchase of two (new) cars in 2015.

It also includes extensive travel over the period (Switzerland/Hawaii/Canada/Scotland/China/Rhine Cruise) plus various trips in the CONUS. BTW, travel has always been a part of our life (on our third passports); it's not something that we only started to do in retirement, so it's always been a part of our base budget expenses. We've adhere to the statement "those that do not travel have not yet turned the first page of life". Of course, it does get interesting at times, such as the trip my wife took (with a friend) on a Nile cruise and stayed in Tahrir Square in Cairo in late 2011, just before the "uprising". Additionally, we don't do travel on the cheap (we're too old and my wife has too many shoes to pack :twisted: ).

FWIW,

- Ron
mb
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Re: Retired Bogleheads -- How much did you spend last year?

Post by mb »

Our total budget is 108k. I'm 61 and spouse 63. Health insurance alone runs us 23k ($18,000 premium plus about 5k out of pocket ). LTC ins is 7k. Other insurance $3500. So there's a total of 33.5k just in insurance. State & federal taxes run about 15k and real estate taxes 2500. So right there is 50k. Looking forward to getting on Medicare!
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