Argh. Found leaking fluid from my car on the snow today as I was leaving my driveway. One thing about snow, oil really stands out! After a little more than 7 years, my 2003 BMW 325i is starting to show its age. I guess it's expected as it's currently hovering around 180k miles. I'm thinking that the oil leak is coming from the oil housing gasket (predicted cost: $408).
We've even incurred expenses on the Honda!
This year is looking to be the year of the car expenses.
Current Total:
$1700 Transmission Replacement on BMW
$600 Cruise Control addition on Honda
Wednesday, March 9, 2011
Sunday, March 6, 2011
Retirement
Ran the numbers today in a retirement calculator (http://cgi.money.cnn.com/tools/retirementneed/retirementneed_plain.html) and it told me that I need $2 million when I retire ($649,740 in today's dollars). $2 MILLION DOLLARS? That sounds like a lot of money!
And I started thinking that maybe these numbers are a little inflated. Because, won't my expenses go down after I retire? Won't my house be paid off by then? So I ran some numbers (monthly) imagining me as a retiree today. According to the calculator, based on me living 15 years after I retire, $649,740 works out to $3609 monthly. Now, that's probably a pre-tax figure, so taking into account a 25% tax bracket, that would give me after taxes $2707 ($3609-$902). Now let's compare that figure to what fixed costs I would have if I was retired today:
Property Taxes: $400
Gas: $200
Car and Home Insurance: $100
Phone: $120
Utilities: $150
Internet & Cable TV: $50
Groceries: $100
Dining Out: $200
Car Expenses: $200
Medical Insurance: $100
Travel: $400
Total Costs: $2000/month
Even with increased travel costs, my predicted fixed costs end up being less than what CNN had presented. Of course, saving more than what you predict spending is not necessarily a bad thing, especially since there's always a chance for surprise expenses. However, I do see a lot of my expenses going down: 2 cars to 1 car, less "going out" expenses, etc.
And I started thinking that maybe these numbers are a little inflated. Because, won't my expenses go down after I retire? Won't my house be paid off by then? So I ran some numbers (monthly) imagining me as a retiree today. According to the calculator, based on me living 15 years after I retire, $649,740 works out to $3609 monthly. Now, that's probably a pre-tax figure, so taking into account a 25% tax bracket, that would give me after taxes $2707 ($3609-$902). Now let's compare that figure to what fixed costs I would have if I was retired today:
Property Taxes: $400
Gas: $200
Car and Home Insurance: $100
Phone: $120
Utilities: $150
Internet & Cable TV: $50
Groceries: $100
Dining Out: $200
Car Expenses: $200
Medical Insurance: $100
Travel: $400
Total Costs: $2000/month
Even with increased travel costs, my predicted fixed costs end up being less than what CNN had presented. Of course, saving more than what you predict spending is not necessarily a bad thing, especially since there's always a chance for surprise expenses. However, I do see a lot of my expenses going down: 2 cars to 1 car, less "going out" expenses, etc.
Counting Calories - Week 1
This week has been the week of counting calories. This is the first time that I'll be making a consistent effort (with the help of my smartphone) to document what I eat. And unlike the last time I tried dieting (South Beach), I don't feel like I'm giving up anything! Let's hope this lasts for some time. I'm thinking April 15?
Current Weight: 180
Goal Weight: 165
Lunch:
Turkey Burger with Lettuce, Tomato, Onion - 324 Calories
Classic Potato Chips - 150 Calories
Current Weight: 180
Goal Weight: 165
Lunch:
Turkey Burger with Lettuce, Tomato, Onion - 324 Calories
Classic Potato Chips - 150 Calories
Wednesday, March 2, 2011
Subscribe to:
Posts (Atom)