Boglelicious123 wrote: ↑Fri Oct 15, 2021 8:49 pm
I’m curious…what are you planning on spending 140K on annually (assuming it’s just the 2 of you and your house is paid off)?
Not trying to be rude, just having a hard time figuring out how I could spend that unless I go on vacation every few weeks. Maybe you can give me some ideas for retirement!
Different people have different ideas about what is normal or wanted expenditures. I can make $140k disappear easily:
Home: $45,200
Property taxes on $1mm home in a 2% ratable area: $20,000
Weekly house cleaner: $100/wk, $5200
Lawn/Snow service: $200/mo for 10 months, $2000
Property insurance: $2000
Property maintenance: 1% of home value, $10,000
Gas, electric, water, cable, internet, streaming services: $500/mo, $6,000
Vacations: $40,000
1 week Caribbean (Ritz Carlton, 7 nights at $600/nt, first class tickets at $1200/each, $250/day food and drink, $100/day spa, $1000 gambling budget): $10,000
2 week European Vacation...extrapolate how you wish based on the above: $20,000
1 week beach rental for whole family - kids, grandkids, etc.: $10,000
Cars: $22,380
BMW 5-series lease: $700/mo, $8400 annually
BMW X5 lease: $700/mo, $8400 annually
Annual insurance premium: $2500
Gas: 28 mpg average, 20,000 total driven, $3.50/gallon average: $2,500
Car washes: once every other month, $15/wash, $180
Oil changes at dealer 2x/yr: $400
Daily living expenses: $36,960
Groceries: $800/mo (Whole Foods/Kings equivalent), $9600
Dining out: $200/wk for 49 weeks (exclude 3 weeks of vacation): $9800
Clothes/shopping/knick knacks: $400/mo, $4800/yr
Gifts: kids, grandkids, etc: $6000/yr
Entertainment: 6x concerts/plays/shows a year, $200/tkt average, $2400
Top of line cell plans with phone payments baked in: $200/mo, $2400/yr
Alcohol: 2x bottles/wk, $20/bottle, $1960
Total: $147,540
Haven't even considered any medical expenses yet...