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Posted on 12/29/15 at 4:17 pm to anc
quote:
Thanks. You made me look my annual spending up. Its quite depressing how much I paid people to prepare me food.
Tracking your spending is a blessing and a curse. I put everything i can on my Amex and pay in full. At the end of the year i can itemize almost 99% of my yearly spending. I then proceed to go drink more to forget about all the money i spent on food and drinks.
This post was edited on 12/29/15 at 4:18 pm
Posted on 12/29/15 at 4:24 pm to nelatf
quote:
What are you doing to increase savings in 2016?
Prob not much different. I already max my Roth and 401k
May take my raise and throw it into some of my vanguard funds, but I think I'm going to continue on the path I am on.
Life is too short not to enjoy some of it. I don't want to save save save and never get to be wild and spend it.
Posted on 12/29/15 at 5:11 pm to wutangfinancial
quote:This for me as well. Going out and using uber more than twice a week can add up very quickly.
My big two are eating at home more and drinking less alcohol
Posted on 12/29/15 at 5:27 pm to saderade
quote:
This for me as well. Going out and using uber more than twice a week can add up very quickly.
See and that is why to each his own is the biggest thing when it comes to spending money on things.
You see people on here, not you, who bash people for spending money on cars, clothes, watches, etc... yet they are completely fine with people going out a few times a week and spending a few hundred on partying.
Who cares how someone spends their money, it is theirs to do with what they wish. Different things bring different people happiness, who are we to judge?
Posted on 12/30/15 at 4:59 am to nelatf
quote:
What are your plans??
1. Avoid friends that insist on grabbing drinks after work during weekdays.
2. Continue bringing my own breakfast and leftovers from the night before for snacks/lunch at work.
3. Walk more at BREC golf courses as opposed to renting carts.
4. Cease buying unnecessary golf equipment.
5. Ride out free Cox cable as long as possible, then switch to streaming and HD antennas.
6. Continue eating out minimally per month
7. Shop around insurance premiums, cell phone plans, etc.
Posted on 12/30/15 at 7:51 am to nelatf
Stop spending 12 dollars a day to eat out for lunch. It's also apart of my lost two pounds a week for 52 weeks plan.
$12x5d=$60
$60*24w=$1440
It will all go to savings, so about a 10% annual increase in total saved. Matches my raise from this year.
$12x5d=$60
$60*24w=$1440
It will all go to savings, so about a 10% annual increase in total saved. Matches my raise from this year.
Posted on 12/30/15 at 11:32 am to TigerFanatic99
1. Cut off Netflix and stick with just Prime
2. Eat out less
3. Bump up 401k contributions by 200%
2. Eat out less
3. Bump up 401k contributions by 200%
Posted on 12/30/15 at 12:24 pm to nelatf
quote:
What are your plans??
Good question. We saved about ~40% of our gross income this year. I think next year will be lower, as I think we probably save a bit too much. And I don't think we will really retire at 46. Maybe go down to 35% of gross.
Posted on 12/30/15 at 12:31 pm to TigerFanatic99
quote:
Stop spending 12 dollars a day to eat out for lunch. It's also apart of my lost two pounds a week for 52 weeks plan.
$12x5d=$60
$60*24w=$1440
You still have to eat so the cost doesn't go to zero. I'm sure it'll still cost at least $2-3 per meal even if you're preparing it at home.
Posted on 12/30/15 at 12:58 pm to nelatf
1. Get a raise
2. Take my three paycheck month and start my house fund
3. Continue to max out my Roth
4. Finish paying that stupid Next Plan phone.
2. Take my three paycheck month and start my house fund
3. Continue to max out my Roth
4. Finish paying that stupid Next Plan phone.
Posted on 12/30/15 at 1:44 pm to nelatf
I'm not really approaching the new year trying to increase savings. I save/invest well over 30% of my gross as is, and I'm comfortable with that level. But since I decided that I wanted to be able to retire/stop working or just work part-time within 3 years +/-, if I chose to, I'm focusing more on rebalancing my portfolio this year and going forward. I've always been very aggressive, and I guess now is the time to rethink that approach.
As far as spending, the only thing I know that I'll have to watch is my tendency to get involved in automobile restoration projects. Cars are like my drug of choice, so I have to be careful or they'll ruin my early retirement options.
As far as spending, the only thing I know that I'll have to watch is my tendency to get involved in automobile restoration projects. Cars are like my drug of choice, so I have to be careful or they'll ruin my early retirement options.
Posted on 12/30/15 at 2:13 pm to GoldenD
quote:
You still have to eat so the cost doesn't go to zero
In this case it will. I'm going to start portioning out and taking leftovers to work. These normally sit in the fridge for a week before being thrown away.
Posted on 12/31/15 at 10:13 am to nelatf
quote:
Lock in some long term / low interest debt for real estate
Posted on 12/31/15 at 10:29 am to Hawkeye95
quote:
And I don't think we will really retire at 46.
how old are you?
not many people can really "retire" at 39(which is lots of peoples goals) or 46 in this day and age. Define retire. drawing down on all accounts to live? Do you have a passive income stream setup already?
Maybe a young guy in his 20's making lots of jack can retire mid 40's, single with no kids if everything is paid for and he has all the money he put away working hard for him so he doesn't have to draw down. retiring and surviving are two different animals. I could shut it down right now, but I would be just getting by. That's not what i want.
This post was edited on 12/31/15 at 10:46 am
Posted on 12/31/15 at 10:51 am to nelatf
That's an easy question to answer.
1. Let dogs out in the yard so they cannot hear any screams and attack me.
2. Throw my wife down over my lap and give her a good hard spanking.
That should keep her Visa bill under $2K for at least 3 months. Then it's 'wash, rinse, repeat.'
1. Let dogs out in the yard so they cannot hear any screams and attack me.
2. Throw my wife down over my lap and give her a good hard spanking.
That should keep her Visa bill under $2K for at least 3 months. Then it's 'wash, rinse, repeat.'
Posted on 12/31/15 at 10:57 am to Fat Bastard
quote:
how old are you?
42.
quote:
not many people can really "retire" at 39(which is lots of peoples goals) or 46 in this day and age. Define retire. drawing down on all accounts to live? Do you have a passive income stream setup already?
It depends on me being able to keep my current income, save at consistent rates, keep my health, and the markets not having a 2008 implosion, but i am on target to retire at 46, and replace current consumption at about a 3.5-4% withdrawl rate.
I need to increase my nest egg by 40% in 4 years. Hell, if I get 10% returns (unlikely), I wouldn't have to save anything. But I am saving ~40% of my gross income.
quote:
Maybe a young guy in his 20's making lots of jack can retire mid 40's, single with no kids if everything is paid for and he has all the money he put away working hard for him so he doesn't have to draw down. retiring and surviving are two different animals. I could shut it down right now, but I would be just getting by. That's not what i want.
Married no kids, and I have made 6 figures for over 15 years.
eta: I don't think I am going to retire at 46, b.c I think I will want a bigger cushion. And probably buy some nice retirement toys.
This post was edited on 12/31/15 at 10:59 am
Posted on 12/31/15 at 11:20 am to seawolf06
quote:
1. Cut off Netflix and stick with just Prime
soooo $100 in savings???
Posted on 12/31/15 at 11:21 am to Hawkeye95
quote:
42.
ok i'm a couple years older than you but we are close.
quote:
arried no kids, and I have made 6 figures for over 15 years.
wow. that's awesome!
quote:
I don't think I am going to retire at 46, b.c I think I will want a bigger cushion. And probably buy some nice retirement toys.
yep. completely understand. I've been in the 6 figure range for around 11 years. Late start in life making any money. Nowhere near where i want to be. Lots of obstacles like multiple job losses and medical bills kicked my dick in the dirt. But, even though i'm throwing money into these IRA's and 401k's, my main goal is passive cash flow for retirement which is why i mainly do real estate deals. I'll do those until I die. I do not want to draw down on anything. I want cash flow from properties and i'll take dividend withdrawals from stocks and mutual funds if needed when the time comes. I want to leave that capital working for me. I'll pass everything on to my children.
Posted on 12/31/15 at 12:17 pm to Fat Bastard
quote:
yep. completely understand. I've been in the 6 figure range for around 11 years. Late start in life making any money. Nowhere near where i want to be. Lots of obstacles like multiple job losses and medical bills kicked my dick in the dirt. But, even though i'm throwing money into these IRA's and 401k's, my main goal is passive cash flow for retirement which is why i mainly do real estate deals. I'll do those until I die. I do not want to draw down on anything. I want cash flow from properties and i'll take dividend withdrawals from stocks and mutual funds if needed when the time comes. I want to leave that capital working for me. I'll pass everything on to my children.
I like to travel too much to deal with real estate. Do not want to deal with the hassle.
I will likely inherit some cash flow generating properties in 20 years, not sure what I will do with them when it happens.
eta: Just making six figures is something that most people never do. You should be proud of that, and not worry otherwise.
This post was edited on 12/31/15 at 12:26 pm
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