Comments on: My Jobless Spending Plan http://blog.canadian-dream-free-at-45.com/2009/11/10/my-jobless-spending-plan/ Wed, 08 Feb 2012 17:31:40 +0000 hourly 1 http://wordpress.org/?v=3.1 By: Jeff http://blog.canadian-dream-free-at-45.com/2009/11/10/my-jobless-spending-plan/comment-page-1/#comment-36072 Jeff Tue, 24 Nov 2009 03:57:19 +0000 http://blog.canadian-dream-free-at-45.com/?p=1105#comment-36072 Its funny the waterheater came up. Mine was installed in November of 1986. When I bought the house four years ago, I bought it from the rental company for $40. I recently had a service person out to install a new furnace, and he told me not to even think about changing the waterheater. Just save the 15 dollars a month and one day another five years from now it might let me down. If it happens tomorrow, there are no hard feelings. I can buy a new one already on the rent I have saved. In my opinion no one should be renting. I know I won't ever go back. Its funny the waterheater came up. Mine was installed in November of 1986. When I bought the house four years ago, I bought it from the rental company for $40. I recently had a service person out to install a new furnace, and he told me not to even think about changing the waterheater. Just save the 15 dollars a month and one day another five years from now it might let me down. If it happens tomorrow, there are no hard feelings. I can buy a new one already on the rent I have saved. In my opinion no one should be renting. I know I won’t ever go back.

]]> By: Marguerite Tennier http://blog.canadian-dream-free-at-45.com/2009/11/10/my-jobless-spending-plan/comment-page-1/#comment-35583 Marguerite Tennier Sun, 15 Nov 2009 14:44:09 +0000 http://blog.canadian-dream-free-at-45.com/?p=1105#comment-35583 Well done. I would also buy a water heater. I am quite certain it would be cheaper than a $25 monthly rental fee. I also took an early retirement and nothing beats the feeling of slowing down to smell the flowers and sip my coffee. Living frugally means that I truly enjoy when I treat myself. It also means making choices for what is truly important for me. Well done. I would also buy a water heater. I am quite certain it would be cheaper than a $25 monthly rental fee. I also took an early retirement and nothing beats the feeling of slowing down to smell the flowers and sip my coffee. Living frugally means that I truly enjoy when I treat myself. It also means making choices for what is truly important for me.

]]> By: The Financial Blogger » Blog Archive » Finanical Ramblings http://blog.canadian-dream-free-at-45.com/2009/11/10/my-jobless-spending-plan/comment-page-1/#comment-35543 The Financial Blogger » Blog Archive » Finanical Ramblings Sat, 14 Nov 2009 19:14:44 +0000 http://blog.canadian-dream-free-at-45.com/?p=1105#comment-35543 [...] Jobless Spending Plan by Canadian Dream [...] [...] Jobless Spending Plan by Canadian Dream [...]

]]> By: tlblack http://blog.canadian-dream-free-at-45.com/2009/11/10/my-jobless-spending-plan/comment-page-1/#comment-35418 tlblack Thu, 12 Nov 2009 09:35:18 +0000 http://blog.canadian-dream-free-at-45.com/?p=1105#comment-35418 I'll come out of lurking to comment on this one. DH and I have kept a very detailed record of expenses for years now. It's not so much a budget (or a goal) as a description of what actually happens. So we know where we can cut. Over the years, we've cut back on the extras little by little, so we already don't have many. We already pay low rent, don't heat our apartment and try to be careful with our food costs. Here's where we would cut right away: Wine--we never eat out, but buy ourselves the occasional bottle--hey, we live in France ok. Car--we'd stop driving and save on gas an freeways(yep, they're expensive here). My husband uses the car only for work. But we wouldn't probably give it up because it's very low maintenance and completely paid for. It would suck to give up internet, but it would save us 30 euros a month, plus we'd probably hardly ever turn on our computers, so we'd save energy. Since we know what we spend each month and each year, we know how big our emergency fund should be--and we've got about a year's worth set aside just for that. I’ll come out of lurking to comment on this one. DH and I have kept a very detailed record of expenses for years now. It’s not so much a budget (or a goal) as a description of what actually happens. So we know where we can cut. Over the years, we’ve cut back on the extras little by little, so we already don’t have many. We already pay low rent, don’t heat our apartment and try to be careful with our food costs. Here’s where we would cut right away:

Wine–we never eat out, but buy ourselves the occasional bottle–hey, we live in France ok.

Car–we’d stop driving and save on gas an freeways(yep, they’re expensive here). My husband uses the car only for work. But we wouldn’t probably give it up because it’s very low maintenance and completely paid for.

It would suck to give up internet, but it would save us 30 euros a month, plus we’d probably hardly ever turn on our computers, so we’d save energy.

Since we know what we spend each month and each year, we know how big our emergency fund should be–and we’ve got about a year’s worth set aside just for that.

]]> By: Jon Snow http://blog.canadian-dream-free-at-45.com/2009/11/10/my-jobless-spending-plan/comment-page-1/#comment-35373 Jon Snow Tue, 10 Nov 2009 22:53:16 +0000 http://blog.canadian-dream-free-at-45.com/?p=1105#comment-35373 We would be ok if one of us lost our job... with a few sacrifices we could actually still bank a bit of income. I am very fortunate to have parents that, let me just say, have done pretty well for themselves. If financial disaster ever came our way, they would be there... they have said as much. In today's world, this is very comforting... I would have to be in VERY desperate straits to ever approach them about help though. We would be ok if one of us lost our job… with a few sacrifices we could actually still bank a bit of income. I am very fortunate to have parents that, let me just say, have done pretty well for themselves. If financial disaster ever came our way, they would be there… they have said as much. In today’s world, this is very comforting…

I would have to be in VERY desperate straits to ever approach them about help though.

]]> By: Middle Way http://blog.canadian-dream-free-at-45.com/2009/11/10/my-jobless-spending-plan/comment-page-1/#comment-35370 Middle Way Tue, 10 Nov 2009 21:45:33 +0000 http://blog.canadian-dream-free-at-45.com/?p=1105#comment-35370 We talk about this a lot. Right now we are each other's "back up". So if either of us lose an income, the other can cover. Should both of us lose it then we would liquidate one of our properties. Cashable asset wise, we have enough to last a few years without having to sell anything. Our monthly expenditures are as close to bare minimum as it is. Not enough margin to make a huge difference. Great post. Nice to see specifics. We talk about this a lot. Right now we are each other’s “back up”. So if either of us lose an income, the other can cover.

Should both of us lose it then we would liquidate one of our properties.

Cashable asset wise, we have enough to last a few years without having to sell anything.

Our monthly expenditures are as close to bare minimum as it is. Not enough margin to make a huge difference.

Great post. Nice to see specifics.

]]> By: Canadian Money http://blog.canadian-dream-free-at-45.com/2009/11/10/my-jobless-spending-plan/comment-page-1/#comment-35369 Canadian Money Tue, 10 Nov 2009 21:27:00 +0000 http://blog.canadian-dream-free-at-45.com/?p=1105#comment-35369 deegee No question...children are a big expense and this expense can continue into retirement. deegee

No question…children are a big expense and this expense can continue into retirement.

]]> By: Dave http://blog.canadian-dream-free-at-45.com/2009/11/10/my-jobless-spending-plan/comment-page-1/#comment-35362 Dave Tue, 10 Nov 2009 18:17:37 +0000 http://blog.canadian-dream-free-at-45.com/?p=1105#comment-35362 @ Caitlin - I have thought about this, and that's probably a good idea - it would reduce monthly expenses after the initial payout as well. @ Julie - Thanks for the idea! @ Scott - This is a 'couple' budget. These are our "fixed" or consistent expenses as well. There are other things that we do spend money on like clothes and other entertainment costs that are really variable, but in general, this is what it costs the two of us to live per month. @ degree - nice work on the early retirement, I hope I'm in the same situation at 45. @ Caitlin – I have thought about this, and that’s probably a good idea – it would reduce monthly expenses after the initial payout as well.

@ Julie – Thanks for the idea!

@ Scott – This is a ‘couple’ budget. These are our “fixed” or consistent expenses as well. There are other things that we do spend money on like clothes and other entertainment costs that are really variable, but in general, this is what it costs the two of us to live per month.

@ degree – nice work on the early retirement, I hope I’m in the same situation at 45.

]]> By: deegee http://blog.canadian-dream-free-at-45.com/2009/11/10/my-jobless-spending-plan/comment-page-1/#comment-35359 deegee Tue, 10 Nov 2009 17:52:09 +0000 http://blog.canadian-dream-free-at-45.com/?p=1105#comment-35359 I retired last year at the age of 45. I worked full-time for 16 years then part-time for the same company for 7 more years. The co-op apartment I bought 20 years ago I have owned outright since 1998 when I paid off the mortgage. This greatly reduced my monthly expenses and was a big step towards being able to retire. The biggest part of managing my monthly expenses was to find an individual health insurance policy which fit okay into my budget. (I live in the USA so the debate about health insurance reform is very important to me.) I don't have dental coverage any more but I was careful to get some expensive dental work done in 2007-08 while I still had coverage through my employer. When I did retire one year ago, I took a big (300k) company stock payout (before the price tanked) and bought into a high-yield (not junk) bond fund I had been following since 2005 (and whose price was at rock-bottom level). It generates anough income to cover my expenses so my other mutual fund assets (some stock, some bond) are used for reinvestment purposes. I also have an IRA rolled over from my 401(k) which is worth nearly 300k so it is waiting (and growing) until I can tap into it at age 60, 14 years from now. But the biggest reason I was able to retire was my decision when I was 20 years old to never want or have children. No kids. No debts. I retired last year at the age of 45. I worked full-time for 16 years then part-time for the same company for 7 more years. The co-op apartment I bought 20 years ago I have owned outright since 1998 when I paid off the mortgage. This greatly reduced my monthly expenses and was a big step towards being able to retire.

The biggest part of managing my monthly expenses was to find an individual health insurance policy which fit okay into my budget. (I live in the USA so the debate about health insurance reform is very important to me.) I don’t have dental coverage any more but I was careful to get some expensive dental work done in 2007-08 while I still had coverage through my employer.

When I did retire one year ago, I took a big (300k) company stock payout (before the price tanked) and bought into a high-yield (not junk) bond fund I had been following since 2005 (and whose price was at rock-bottom level). It generates anough income to cover my expenses so my other mutual fund assets (some stock, some bond) are used for reinvestment purposes. I also have an IRA rolled over from my 401(k) which is worth nearly 300k so it is waiting (and growing) until I can tap into it at age 60, 14 years from now.

But the biggest reason I was able to retire was my decision when I was 20 years old to never want or have children.

No kids. No debts.

]]> By: Scott http://blog.canadian-dream-free-at-45.com/2009/11/10/my-jobless-spending-plan/comment-page-1/#comment-35358 Scott Tue, 10 Nov 2009 17:50:40 +0000 http://blog.canadian-dream-free-at-45.com/?p=1105#comment-35358 Is your budget an 'individual' budget or a 'couple' budget? Is your budget an ‘individual’ budget or a ‘couple’ budget?

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