Quote:
Originally Posted by XutvJet
How does one spend $100k/yr plus $2500+/mo in SS between two people? That's almost $11k/mo. My God, what are you people buying every month to be needing that much spending power per month? LOL
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Quote:
Originally Posted by wtwo3
Between property tax, Healthcare costs, leisure activities, travel, miscellaneous expenses, and probably my biggest expense, cars... I shouldn't have any trouble spending that and more.
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So based on today's costs, which will only go up:
Federal taxes on $100k, MFJ: $8.6k (my current state does not tax retirement income. If it did add another $4.8k)
Property taxes: $10k
Home/Auto/Umbrella Insurance: $5k
Medicare A+B+D+G, for 2 people: $16.5k (not paying this right now, obviously)
So $40k/yr is already out the door, right from the jump. And I haven't paid my utilities, bought any food, done any home improvements/maintenance, bought any toys, gone on any trips, or done any car-related things.
And since we're on a board dedicated to $100k cars, let's say we want two of those in the driveway/garage. Even if we only replace them every 5 years, there's another $20k/year right there (assuming 50% depreciation). So now there's "only" $40k left for all that other stuff. I don't think we'll actually do this, but just to illustrate how quickly stuff adds up.
I don't know about you, but after working all these years, I intend to enjoy the shit out of having sole ownership of 168 hours per week. I also make no assumptions as to what degree SS benefits will be funded in 25 years. So whatever we get from that (which will also be taxed) is just gravy.