How much were you able to spend this year?

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HEDGEFUNDIE
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How much were you able to spend this year?

Post by HEDGEFUNDIE » Mon Dec 30, 2019 11:58 pm

A counterpoint to the other thread on savings.

This year I faithfully followed my rule of thirds:

1/3 spending
1/3 savings
1/3 taxes & charity

“Spending” was around $130k.
Housing, childcare, and medical bills were the majority of this cost. Wife and I made an explicit decision to spend 20% more on daycare than we “had to” for better quality.

Two weeks vacation in Asia, 10 days in Hawaii, and 4-5 trips up and down the West Coast took up the next largest bucket.

Next year I may spend $100k+ on a home addition. Still TBD though as our zoning laws are changing.
Last edited by HEDGEFUNDIE on Tue Dec 31, 2019 12:05 am, edited 2 times in total.

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Re: How much were you able to spend this year?

Post by bhsince87 » Tue Dec 31, 2019 12:04 am

Coincidentally, I just added it up today!

I spent about $42,000. First year in retirement.

Don't know what the wife spent yet, but I expect around $20,000.

Also, this doesn't include taxes. Won't have a firm number on that till later.
"If ye love wealth better than liberty, the tranquility of servitude better than the animating contest of freedom, go home from us in peace." Samuel Adams

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FIREchief
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Re: How much were you able to spend this year?

Post by FIREchief » Tue Dec 31, 2019 12:37 am

This is a very strange thread. I've heard the term "humble brag" and often struggled to understand what it meant....until perhaps now. Is the "actionable" aspect that the rest of us need to make/get more money (i.e. make 1/2 million per year so that we can splurge on expensive day care and take many vacations)? :confused
Last edited by FIREchief on Tue Dec 31, 2019 12:40 am, edited 1 time in total.
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HEDGEFUNDIE
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Re: How much were you able to spend this year?

Post by HEDGEFUNDIE » Tue Dec 31, 2019 12:40 am

FIREchief wrote:
Tue Dec 31, 2019 12:37 am
This is a very strange thread. I've heard the term "humble brag" and often struggled to understand what it meant....until perhaps now. Is the "actionable" aspect that the rest of us need to get more money?
Why is spending money any less worthy than saving money? What is saving money for, after all?

The actionable part is not to goad you into making more money, it’s to spend more of the money that you already make. So that we won’t have so many threads like this:

viewtopic.php?f=2&t=298797

TeeDee
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Re: How much were you able to spend this year?

Post by TeeDee » Tue Dec 31, 2019 12:47 am

thank you HEDGEFUNDIE for bringing some well needed sanity to this wonderful forum every day!

(And thanks for the ”excellent” 60% return this year...)

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FIREchief
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Re: How much were you able to spend this year?

Post by FIREchief » Tue Dec 31, 2019 12:50 am

HEDGEFUNDIE wrote:
Tue Dec 31, 2019 12:40 am
The actionable part is not to goad you into making more money, it’s to spend more of the money that you already make. So that we won’t have so many threads like this:

viewtopic.php?f=2&t=298797
I like that thread. This thread, not so much.... I hadn't read that other thread, until now, but found this nice nugget at the very end:
JakeyLee wrote:
Mon Dec 30, 2019 11:28 pm
I am a very simple man.. I want for nothing, and I'm resigned to the fact that my nieces and nephews will someday enjoy the fruits of my frugal behavior and love of decades long purchase of low cost index funds. However, I smoke fine cigars daily... And I enjoy cheap American lager (Budweiser) daily. I'm not proud. But I'm not ashamed.
This guy sounds happy, but you apparently want to "goad" us into spending more money that we "already make," (apparently leaving the post FIRE crowd out of the equation). Will that make us more "happy?" What if it has the opposite effect (i.e. we lay on our death beds and regret foolish spending that could have helped others?). Your thread just sounds less "happy" to me, but what do I know?
I am not a lawyer, accountant or financial advisor. Any advice or suggestions that I may provide shall be considered for entertainment purposes only.

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Re: How much were you able to spend this year?

Post by TropikThunder » Tue Dec 31, 2019 12:54 am

FIREchief wrote:
Tue Dec 31, 2019 12:50 am
Your thread just sounds less "happy" to me, but what do I know?
It's almost like different people have different ideas of how they want to live their lives. Shocking!

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FIREchief
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Re: How much were you able to spend this year?

Post by FIREchief » Tue Dec 31, 2019 12:57 am

TropikThunder wrote:
Tue Dec 31, 2019 12:54 am
FIREchief wrote:
Tue Dec 31, 2019 12:50 am
Your thread just sounds less "happy" to me, but what do I know?
It's almost like different people have different ideas of how they want to live their lives. Shocking!
Yep, and when folks try to "goad" others to "be like me," sometimes people will push back a little bit! Shocking indeed!! :P
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GerryL
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Re: How much were you able to spend this year?

Post by GerryL » Tue Dec 31, 2019 1:01 am

My current financial plan is based on an annual budget (exclusive of taxes) that is well beyond what I need. In fact, it is almost double what my original financial plan, run a couple of years before retirement, was based on. Even with two international trips and a boost in charitable giving (thanks to becoming eligible for QCDs), it appears that I am 25%-30% below my spend limit for 2019.

I have started keeping a running tab of how much I underspend each year so if I decide somewhere down the line that I want to make a really major purchase that would put me over my limit, I will know how much of my annual budget I have "banked" over the years.

So the answer to the orignal question: I was able to spend about 75% of my allowance.

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Re: How much were you able to spend this year?

Post by HEDGEFUNDIE » Tue Dec 31, 2019 1:03 am

GerryL wrote:
Tue Dec 31, 2019 1:01 am
My current financial plan is based on an annual budget (exclusive of taxes) that is well beyond what I need. In fact, it is almost double what my original financial plan, run a couple of years before retirement, was based on. Even with two international trips and a boost in charitable giving (thanks to becoming eligible for QCDs), it appears that I am 25%-30% below my spend limit for 2019.

I have started keeping a running tab of how much I underspend each year so if I decide somewhere down the line that I want to make a really major purchase that would put me over my limit, I will know how much of my annual budget I have "banked" over the years.

So the answer to the orignal question: I was able to spend about 75% of my allowance.
Thank you for that valuable contribution to the thread.

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HEDGEFUNDIE
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Re: How much were you able to spend this year?

Post by HEDGEFUNDIE » Tue Dec 31, 2019 1:07 am

FIREchief wrote:
Tue Dec 31, 2019 12:50 am
This guy sounds happy, but you apparently want to "goad" us into spending more money that we "already make," (apparently leaving the post FIRE crowd out of the equation). Will that make us more "happy?"
If you are retired you should be spending even more money as a percentage of your available resources. Lower taxes and no need for additional savings.

I like GerryL’s strategy above, giving yourself a retirement spending allowance and tracking against it.
Last edited by HEDGEFUNDIE on Tue Dec 31, 2019 1:14 am, edited 1 time in total.

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Re: How much were you able to spend this year?

Post by SevenBridgesRoad » Tue Dec 31, 2019 1:11 am

This thread, like his/her others, will get a thousand hits.

Disruptive?

Plenty of these: "Bah, I never spent one dollar (inflation-adjusted) on food. Always happy with a hand full of warm gravel for dinner. Worked for me."

HEDGEFUNDIE says live a little? Hard to disagree with this.
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Re: How much were you able to spend this year?

Post by marcopolo » Tue Dec 31, 2019 1:11 am

FIREchief wrote:
Tue Dec 31, 2019 12:57 am
TropikThunder wrote:
Tue Dec 31, 2019 12:54 am
FIREchief wrote:
Tue Dec 31, 2019 12:50 am
Your thread just sounds less "happy" to me, but what do I know?
It's almost like different people have different ideas of how they want to live their lives. Shocking!
Yep, and when folks try to "goad" others to "be like me," sometimes people will push back a little bit! Shocking indeed!! :P
I am not sure I see the "goading".
Some people like to discuss how they spend their money.
If you don't want to, that is fine as well.

I don't see where anyone is suggesting you need to either earn more or spend more, unless you always feel like you need to keep up with the Joneses. When your neighbor buys a new BWM, do you feel you are being goaded into buying one as well? If not, why would this thread bother you any more than that? Seems an odd reaction.
Once in a while you get shown the light, in the strangest of places if you look at it right.

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Re: How much were you able to spend this year?

Post by MotoTrojan » Tue Dec 31, 2019 1:16 am

Spent about $12K on Roth IRA contributions, $19.5K on 401k contributions, about $10K in exercised options for my start-up, and $3000 on my HSA... oh wait... wrong thread.

Biggest spend otherwise was vacations. No regrets.

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Re: How much were you able to spend this year?

Post by HEDGEFUNDIE » Tue Dec 31, 2019 1:19 am

MotoTrojan wrote:
Tue Dec 31, 2019 1:16 am
Spent about $12K on Roth IRA contributions, $19.5K on 401k contributions, about $10K in exercised options for my start-up, and $3000 on my HSA... oh wait... wrong thread.

Biggest spend otherwise was vacations. No regrets.
I guess it could always be worse, telling yourself savings is actually spending 🤦🏻‍♂️

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Re: How much were you able to spend this year?

Post by TeeDee » Tue Dec 31, 2019 1:22 am

Spent as much as needed for needs, wants and luxuries knowing that the magic of compounding will make up for it..

Also gave 20% of income to family in need. Probably best money I ever spent. If I wait 35 years until retirement who know if my loved ones will still around.

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Re: How much were you able to spend this year?

Post by marcopolo » Tue Dec 31, 2019 1:23 am

We had an unusual year this year, two years into retirement.

We largely just spend what we feel like, keep track of it, but not really set any limits on ourselves as we want to enjoy our early retirement years (age 52) But, I do have a rough idea of around what I think we can safely spend each year, and plan to keep a "surplus/deficit" number in mind similar what GerryL suggested.

We only managed to spend about 70% of that "target", but that was because we had a separate "bucket" of money set aside to build our new home and pay for our relocation. That has consumed so much of our time that we have not travelled as much or done some other things that we would normally do as part of our regular spending.

On the flip side, since you are "goading" me into spending more :beer, if we count those expenses, we spent about 13x our annual budget :shock:
Once in a while you get shown the light, in the strangest of places if you look at it right.

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Re: How much were you able to spend this year?

Post by AlohaJoe » Tue Dec 31, 2019 1:27 am

Spent 1,300,000,000₫. Like many other retired Bogleheads, travel was the biggest chunk with trips to Taiwan, the US, and Australia.

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Re: How much were you able to spend this year?

Post by yogesh » Tue Dec 31, 2019 1:30 am

Sticker shock this year.
40% Save: PreTax/PostTax 401K, 529, ESPP, Taxable
35% Spend: Kids Tuition, Mortgage, Shopping, Food, Bills
25% Taxes: Federal, Social Security, Medicare, Property
Emergency: FDIC | Taxable: VTMFX | Retirement: TR2040

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Re: How much were you able to spend this year?

Post by SevenBridgesRoad » Tue Dec 31, 2019 1:30 am

AlohaJoe wrote:
Tue Dec 31, 2019 1:27 am
Spent 1,300,000,000₫. Like many other retired Bogleheads, travel was the biggest chunk with trips to Taiwan, the US, and Australia.
Monday, 30/12/2019 1,300,000,000 VND = 56142.29 USD
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Re: How much were you able to spend this year?

Post by watchnerd » Tue Dec 31, 2019 2:06 am

We tried very hard to spend more, but we just didn't have enough free time.

We managed to squeeze in trips to Hawaii, Japan, some extra time in Barcelona after a business trip, a very splurge dinner at the Joel Robuchon restaurant in Vegas, some pricey upgrades to my turntable and record collection, some bottles of Chateau Louisville Barton for the collection, trips to San Diego, Cirque Du Soleil, symphony season membership, charitable donations, some expensive dentistry and vet bills, and just the other day, DW got a Stella McCartney bag for her birthday.

But, ultimately, we totally failed.

We didn't come even close to spending 1/3. Maybe like 7-8% of gross.

:( :( :(


Will try harder in 2020....
Last edited by watchnerd on Tue Dec 31, 2019 2:08 am, edited 1 time in total.
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FIREchief
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Re: How much were you able to spend this year?

Post by FIREchief » Tue Dec 31, 2019 2:07 am

SevenBridgesRoad wrote:
Tue Dec 31, 2019 1:11 am
HEDGEFUNDIE says live a little? Hard to disagree with this.
So "spending" = "living?" Strange thread indeed!
I am not a lawyer, accountant or financial advisor. Any advice or suggestions that I may provide shall be considered for entertainment purposes only.

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HEDGEFUNDIE
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Re: How much were you able to spend this year?

Post by HEDGEFUNDIE » Tue Dec 31, 2019 2:09 am

watchnerd wrote:
Tue Dec 31, 2019 2:06 am
We tried very hard to spend more, but we just didn't have enough free time.

We managed to squeeze in trips to Hawaii, Japan, some extra time in Barcelona after a business trip, a very splurge dinner at the Joel Robuchon restaurant in Vegas, some pricey upgrades to my turntable and record collection, some bottles of Chateau Louisville Barton for the collection, trips to San Diego, Cirque Du Soleil, symphony season membership, charitable donations, some expensive dentistry and vet bills, and just the other day, DW got a Stella McCartney bag for her birthday.

But, ultimately, we totally failed.

We didn't come even close to spending 1/3. Maybe like 7-8% of gross.

:( :( :(


Will try harder in 2020....
Where there’s a will there’s a way!

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FIREchief
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Re: How much were you able to spend this year?

Post by FIREchief » Tue Dec 31, 2019 2:11 am

marcopolo wrote:
Tue Dec 31, 2019 1:11 am
I am not sure I see the "goading".

I don't see where anyone is suggesting you need to either earn more or spend more

Seems an odd reaction.
It was the OP's later post:
HEDGEFUNDIE wrote:
Tue Dec 31, 2019 12:40 am
The actionable part is not to goad you into making more money, it’s to spend more of the money that you already make.
Seems to say that he is goading others to spend more. :oops:
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Re: How much were you able to spend this year?

Post by SevenBridgesRoad » Tue Dec 31, 2019 2:15 am

FIREchief wrote:
Tue Dec 31, 2019 2:07 am
SevenBridgesRoad wrote:
Tue Dec 31, 2019 1:11 am
HEDGEFUNDIE says live a little? Hard to disagree with this.
So "spending" = "living?" Strange thread indeed!
Didn’t say that. It’s a long way from ‘living a little’ to ‘spending equals living’, wouldn’t you agree?

Are you saying “saving = living”?
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Re: How much were you able to spend this year?

Post by EnjoyIt » Tue Dec 31, 2019 2:19 am

FIREchief wrote:
Tue Dec 31, 2019 12:37 am
This is a very strange thread. I've heard the term "humble brag" and often struggled to understand what it meant....until perhaps now. Is the "actionable" aspect that the rest of us need to make/get more money (i.e. make 1/2 million per year so that we can splurge on expensive day care and take many vacations)? :confused
This isn’t humble bragging. It’s just bragging.

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Re: How much were you able to spend this year?

Post by Ron Ronnerson » Tue Dec 31, 2019 2:21 am

Family of three in the Bay Area, one income.

Income: about $120k + $7k in credit card bonuses/points and $3k in gifts

Taxes: about $13k ($1.5k federal income tax, $0 California income tax, $1.5k Medicare, $10k property tax)

Savings: about $60k (403b, 457b, IRAs, employee pension contributions, mortgage principal)

Spending: about $57k. Our top expense categories are boring things like mortgage interest and groceries. This week’s indulgences included spending $10 on raspberries, blueberries, and blackberries and going out to an Italian restaurant (cost was $35 for three people for lunch). Totally worth it.

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Re: How much were you able to spend this year?

Post by AlphaLess » Tue Dec 31, 2019 2:22 am

HEDGEFUNDIE wrote:
Mon Dec 30, 2019 11:58 pm
A counterpoint to the other thread on savings.

This year I faithfully followed my rule of thirds:

1/3 spending
1/3 savings
1/3 taxes & charity

“Spending” was around $130k.
Housing, childcare, and medical bills were the majority of this cost. Wife and I made an explicit decision to spend 20% more on daycare than we “had to” for better quality.

Two weeks vacation in Asia, 10 days in Hawaii, and 4-5 trips up and down the West Coast took up the next largest bucket.

Next year I may spend $100k+ on a home addition. Still TBD though as our zoning laws are changing.
Nice balance.

But dayum, that seems very thrifty, with all those vacations.
Two weeks in Asia
10 days in Hawaii
And daycare

And *ONLY* $130K. Nice.

My math is rough (spending is the most accurate):
Spend: 7.4%
Tax: 39.7%
Save: 52.9%

Our income is around 3-5 times 1% threshold for our area. Top-10 metro US.
Last edited by AlphaLess on Tue Dec 31, 2019 2:31 am, edited 1 time in total.
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Re: How much were you able to spend this year?

Post by FIREchief » Tue Dec 31, 2019 2:23 am

SevenBridgesRoad wrote:
Tue Dec 31, 2019 2:15 am
FIREchief wrote:
Tue Dec 31, 2019 2:07 am
SevenBridgesRoad wrote:
Tue Dec 31, 2019 1:11 am
HEDGEFUNDIE says live a little? Hard to disagree with this.
So "spending" = "living?" Strange thread indeed!
Didn’t say that. It’s a long way from ‘living a little’ to ‘spending equals living’, wouldn’t you agree?

Are you saying “saving = living”?
LOL. NO!!!! I'm saying that once FIREd, there is (should be) a growing disconnect between "spending/saving" and "living." If truly FI, then what the heck does money have to do with anything?? These folks that measure their "quality of life" by their "spending" have a whole lot to learn about life! 8-)
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Re: How much were you able to spend this year?

Post by watchnerd » Tue Dec 31, 2019 2:24 am

HEDGEFUNDIE wrote:
Tue Dec 31, 2019 2:09 am
watchnerd wrote:
Tue Dec 31, 2019 2:06 am
We tried very hard to spend more, but we just didn't have enough free time.

We managed to squeeze in trips to Hawaii, Japan, some extra time in Barcelona after a business trip, a very splurge dinner at the Joel Robuchon restaurant in Vegas, some pricey upgrades to my turntable and record collection, some bottles of Chateau Louisville Barton for the collection, trips to San Diego, Cirque Du Soleil, symphony season membership, charitable donations, some expensive dentistry and vet bills, and just the other day, DW got a Stella McCartney bag for her birthday.

But, ultimately, we totally failed.

We didn't come even close to spending 1/3. Maybe like 7-8% of gross.

:( :( :(


Will try harder in 2020....
Where there’s a will there’s a way!
I CAN DO IT!

I BELIEVE IN MYSELF!

Thank you Bogleheads.
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Re: How much were you able to spend this year?

Post by watchnerd » Tue Dec 31, 2019 2:25 am

FIREchief wrote:
Tue Dec 31, 2019 2:23 am

LOL. NO!!!! I'm saying that once FIREd, there is (should be) a growing disconnect between "spending/saving" and "living." If truly FI, then what the heck does money have to do with anything?? These folks that measure their "quality of life" by their "spending" have a whole lot to learn about life! 8-)
Who let Marie Kondo into this thread?
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Re: How much were you able to spend this year?

Post by msk » Tue Dec 31, 2019 2:26 am

Spent $100k on myself and DW. Includes ample domestic help and one holiday trip to the other side of the world. Gave away $300k to potential heirs and charity. At age 75 I think I get enjoyment of my life-long hard earned savings in a ratio reflecting that expenditure ratio. Only the second year I maintained that high a spending pattern. Markets go up, I'll give away more; market falls, give away less :beer
You kids in your 40s and 50s: utility of your $ drops drastically as you age. Save and invest 30% of your after tax income, blow the rest on the frivolities in life that sound great today but will become too bleh as you age :twisted:

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Re: How much were you able to spend this year?

Post by flaccidsteele » Tue Dec 31, 2019 2:27 am

HEDGEFUNDIE wrote:
Mon Dec 30, 2019 11:58 pm
A counterpoint to the other thread on savings.

This year I faithfully followed my rule of thirds:

1/3 spending
1/3 savings
1/3 taxes & charity

“Spending” was around $130k.
Housing, childcare, and medical bills were the majority of this cost. Wife and I made an explicit decision to spend 20% more on daycare than we “had to” for better quality.

Two weeks vacation in Asia, 10 days in Hawaii, and 4-5 trips up and down the West Coast took up the next largest bucket.
For some reason my brain juxtaposed this spend with the same amount spent on a single light fixture in a renovated NYC townhouse 😂

(6 figure light fixture seen @6:44)

https://youtu.be/zIbiWK4zbNo

“Well, for my $130k I got stuff for the house, great childcare, healthcare, and some sweet vacations! What did you get?”

“I got a light.” 😂
Last edited by flaccidsteele on Tue Dec 31, 2019 2:30 am, edited 1 time in total.
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Re: How much were you able to spend this year?

Post by FIREchief » Tue Dec 31, 2019 2:28 am

EnjoyIt wrote:
Tue Dec 31, 2019 2:19 am
FIREchief wrote:
Tue Dec 31, 2019 12:37 am
This is a very strange thread. I've heard the term "humble brag" and often struggled to understand what it meant....until perhaps now. Is the "actionable" aspect that the rest of us need to make/get more money (i.e. make 1/2 million per year so that we can splurge on expensive day care and take many vacations)? :confused
This isn’t humble bragging. It’s just bragging.

In before the lock.
Yep, and I'm sure a lot of folks simply aren't "buying" it. :P
I am not a lawyer, accountant or financial advisor. Any advice or suggestions that I may provide shall be considered for entertainment purposes only.

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Re: How much were you able to spend this year?

Post by AlphaLess » Tue Dec 31, 2019 2:30 am

TeeDee wrote:
Tue Dec 31, 2019 1:22 am
Spent as much as needed for needs, wants and luxuries knowing that the magic of compounding will make up for it..

Also gave 20% of income to family in need. Probably best money I ever spent. If I wait 35 years until retirement who know if my loved ones will still around.
Excellent thoughts.
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Re: How much were you able to spend this year?

Post by FIREchief » Tue Dec 31, 2019 2:31 am

watchnerd wrote:
Tue Dec 31, 2019 2:25 am
FIREchief wrote:
Tue Dec 31, 2019 2:23 am

LOL. NO!!!! I'm saying that once FIREd, there is (should be) a growing disconnect between "spending/saving" and "living." If truly FI, then what the heck does money have to do with anything?? These folks that measure their "quality of life" by their "spending" have a whole lot to learn about life! 8-)
Who let Marie Kondo into this thread?
Busted!!! LOL My daughter introduced me to her show. Good stuff. :beer
I am not a lawyer, accountant or financial advisor. Any advice or suggestions that I may provide shall be considered for entertainment purposes only.

AlphaLess
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Re: How much were you able to spend this year?

Post by AlphaLess » Tue Dec 31, 2019 2:35 am

I feel like these threads are not yet complete.

Since there are three components:
- saving
- spending
- taxes

And we have threads for the first two, we need a separate thread for the third category.

That is: "How much were you able to contribute to UNCLE SAM this year".

I am not brave / able enough to create that thread, so if someone please could do that, I would appreciate it.
"A Republic, if you can keep it". Benjamin Franklin. 1787. | Party affiliation: Vanguard. Religion: low-cost investing.

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watchnerd
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Re: How much were you able to spend this year?

Post by watchnerd » Tue Dec 31, 2019 2:36 am

msk wrote:
Tue Dec 31, 2019 2:26 am
Save and invest 30% of your after tax income, blow the rest on the frivolities in life that sound great today but will become too bleh as you age :twisted:
I think we're already there.

It's hard to spend more when you're already jaded before 50.

Luckily, my wife hides gold coins for me in the woods, which brings some fun back to try and find them.
70% Global Market Weight Equities | 15% Long Treasuries 15% short TIPS & cash || RSU + ESPP

AlphaLess
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Re: How much were you able to spend this year?

Post by AlphaLess » Tue Dec 31, 2019 2:50 am

flaccidsteele wrote:
Tue Dec 31, 2019 2:27 am
HEDGEFUNDIE wrote:
Mon Dec 30, 2019 11:58 pm
A counterpoint to the other thread on savings.

This year I faithfully followed my rule of thirds:

1/3 spending
1/3 savings
1/3 taxes & charity

“Spending” was around $130k.
Housing, childcare, and medical bills were the majority of this cost. Wife and I made an explicit decision to spend 20% more on daycare than we “had to” for better quality.

Two weeks vacation in Asia, 10 days in Hawaii, and 4-5 trips up and down the West Coast took up the next largest bucket.
For some reason my brain juxtaposed this spend with the same amount spent on a single light fixture in a renovated NYC townhouse 😂

(6 figure light fixture seen @6:44)

https://youtu.be/zIbiWK4zbNo

“Well, for my $130k I got stuff for the house, great childcare, healthcare, and some sweet vacations! What did you get?”

“I got a light.” 😂
SoHY: is that like in Jersey or something?
/s
"A Republic, if you can keep it". Benjamin Franklin. 1787. | Party affiliation: Vanguard. Religion: low-cost investing.

CarpeDiem22
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Re: How much were you able to spend this year?

Post by CarpeDiem22 » Tue Dec 31, 2019 3:09 am

Third world. We spent $14k. This includes below travel:
a. 6 nights in Thailand (with DW)
b. Trip to my parent's place for holiday season (flights)
c. Domestic trip to my sister's place (flights) and further road trip with her family.
d. Domestic road trip with parents-in-law
e. DW's domestic trip to her sister's place (flights)

In addition to above, my parents and parents-in-law visited us at their own cost. My spending was up this year, but it was worth it as we spent a lot of time with family.

pepys
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Re: How much were you able to spend this year?

Post by pepys » Tue Dec 31, 2019 4:04 am

Spent about $12,500. $10,000 of that was on rent.

Unless if you count the excellent adventure I am on, which I saved more into than my total spending for the year. :beer

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Sheepdog
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Re: How much were you able to spend this year?

Post by Sheepdog » Tue Dec 31, 2019 5:43 am

How much were we able to spend this year? I am 86. My wife and I have been married 59 years as of today. We lived off of savings and SS for the last 21 years. In 2019 we were able to spend 35% more than we ever had before in a year. 25% of that spending was for a new auto, 17% for medical, 12% for gifts plus donations, 7% for entertainment and restaurants, and yet we still had growth in our investment balance for the year. Maybe we should have spent more.....
“One moment of patience may ward off great disaster. One moment of impatience may ruin a whole life.” — Chinese Proverb

Triple digit golfer
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Re: How much were you able to spend this year?

Post by Triple digit golfer » Tue Dec 31, 2019 6:13 am

FIREchief wrote:
Tue Dec 31, 2019 2:28 am
EnjoyIt wrote:
Tue Dec 31, 2019 2:19 am
FIREchief wrote:
Tue Dec 31, 2019 12:37 am
This is a very strange thread. I've heard the term "humble brag" and often struggled to understand what it meant....until perhaps now. Is the "actionable" aspect that the rest of us need to make/get more money (i.e. make 1/2 million per year so that we can splurge on expensive day care and take many vacations)? :confused
This isn’t humble bragging. It’s just bragging.

In before the lock.
Yep, and I'm sure a lot of folks simply aren't "buying" it. :P
I agree with you both.

hoffse
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Re: How much were you able to spend this year?

Post by hoffse » Tue Dec 31, 2019 6:18 am

I track everything to the penny. Total is $162,209.49 for 2019.

About half of it is our mortgage/PITI and aggressively paying off student loans. Both of those will be gone before we retire (the student loans will be gone within 3 years). About half of it is discretionary spending like groceries, daycare, etc.

We spent $5,659.79 at Costco this year and $1,675.99 at restaurants. Pets were unusually expensive this year at $1,932.89 due to a kitty that needed surgery unexpectedly. We splurge on a cleaning service, lawn service, and exterminator service because we live in a wooded area and work a lot (collectively $6,781.75) Other than our kiddo’s daycare ($13,086.34) those services are best money we spend because it buys us a huge amount of time back with our kid.

We spend way more than 1/3, but we max out available tax advantaged accounts and save a little in taxable too. I started saving for retirement in middle school (!) so we are well on track for our ages. We also put $$ aside for kiddo’s college in a 529, and we are on track for what we have committed to do there.

We save what we need and spend the rest, after Uncle Sam gets his cut. I track it to keep us accountable and to make sure our savings are keeping up.

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JoeRetire
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Re: How much were you able to spend this year?

Post by JoeRetire » Tue Dec 31, 2019 6:18 am

We spent what we needed to on the things we need and want.

We weren't able to spend as much as we had budgeted/projected. Probably because we plan conservatively and because my wife only stayed fully retired for 5 months and is now working part time.
It's the end of the world as we know it. | It's the end of the world as we know it. | It's the end of the world as we know it. | And I feel fine.

Sic Vis Pacem
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Re: How much were you able to spend this year?

Post by Sic Vis Pacem » Tue Dec 31, 2019 9:20 am

I've never been one for precise tracking, so I don't have a number. It was less than we alotted based on our savings goals (which we upped mid-year). A little less than half of the spend side was child care and vacations, the rest was just running our household. No major purchases or unexpected lumpy expenses this year.

investingdad
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Re: How much were you able to spend this year?

Post by investingdad » Tue Dec 31, 2019 9:51 am

We spent around 130k on non tax expenses. That was on a total compensation of between 270k and 310k.

If you're not going to derive some enjoyment from your work, really... what is the point?

Our biggest spending was on vacation.

I bought myself a fine instrument as I further pursue my musical endeavors.

prd1982
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Re: How much were you able to spend this year?

Post by prd1982 » Tue Dec 31, 2019 10:14 am

Not sure how I feel about the original post. But I do like seeing "charity" as a spending item. So many posts about "what I spend" omit this category.

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Doom&Gloom
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Re: How much were you able to spend this year?

Post by Doom&Gloom » Tue Dec 31, 2019 10:24 am

A bunch!
But not too much.

ducklake
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Re: How much were you able to spend this year?

Post by ducklake » Tue Dec 31, 2019 10:28 am

16.10% : Total spending including mortgage interest payments.

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