tag:blogger.com,1999:blog-2980246226076317453.post1793594241433887624..comments2024-03-27T09:17:51.095-07:00Comments on Done by Forty: Budget Porn: October 2017Done By Fortyhttp://www.blogger.com/profile/06246597867355460723noreply@blogger.comBlogger26125tag:blogger.com,1999:blog-2980246226076317453.post-15682554319283621032017-11-11T13:29:47.515-07:002017-11-11T13:29:47.515-07:00Mr. Money Mustache wrote about this recently, for ...Mr. Money Mustache wrote about this recently, for CO, in which he's seeing a big increase in 2018:<br /><br />http://www.mrmoneymustache.com/2017/11/05/when-your-shitty-health-insurance-doubles-in-price/<br /><br />Of course, it's pretty rare for FIRE people to earn so much in retirement that they no longer qualify for ACA subsidies. MMM earns a ton from his blog, whereas the average early retiree is earning very little income in retirement: perhaps no taxable income at all.Done By Fortyhttps://www.blogger.com/profile/06246597867355460723noreply@blogger.comtag:blogger.com,1999:blog-2980246226076317453.post-52133907354365163592017-11-10T16:17:16.427-07:002017-11-10T16:17:16.427-07:00I admit I have not looked in states I don't li...I admit I have not looked in states I don't live in. But if wager it doesn't vary much. Later tonight I'll look at Colorado (since it seemss lot of FIRE people live thereKassyhttps://www.blogger.com/profile/08729311546936329823noreply@blogger.comtag:blogger.com,1999:blog-2980246226076317453.post-41157947454093125492017-11-10T16:14:49.677-07:002017-11-10T16:14:49.677-07:00This comment has been removed by the author.Kassyhttps://www.blogger.com/profile/08729311546936329823noreply@blogger.comtag:blogger.com,1999:blog-2980246226076317453.post-44625402742319643362017-11-09T20:44:53.957-07:002017-11-09T20:44:53.957-07:00Really? I thought there was quite a lot of cost va...Really? I thought there was quite a lot of cost variance state by state. Done By Fortyhttps://www.blogger.com/profile/06246597867355460723noreply@blogger.comtag:blogger.com,1999:blog-2980246226076317453.post-25487896739737158192017-11-09T13:56:35.781-07:002017-11-09T13:56:35.781-07:00It is a lot. It is also what any ACA plan costs on...It is a lot. It is also what any ACA plan costs once you add up the premium and maximum out of pocket for a family of 4 non-smokers ( 2 40ish adults and 2 school age kids)that doesn't get the subsidy. Kassyhttps://www.blogger.com/profile/08729311546936329823noreply@blogger.comtag:blogger.com,1999:blog-2980246226076317453.post-21978063161025948792017-11-09T08:33:01.773-07:002017-11-09T08:33:01.773-07:00Yeah, that's roughly the cost for her universi...Yeah, that's roughly the cost for her university fees. They're actually a bit higher in the spring semester (I think b/c it technically also covers summer) but it's in the ballpark of $1200 or so, I think. Plus, Uncle Sam helps out a bit on university fees at tax time. :)<br /><br />We really stink at giving to charity, unfortunately. We're so focused on our own financial goals that it cannibalizes our charitable giving to a large degree. We still give to some charities locally but it's nowhere near the overall percentage we'd like for it to be. The hope is that things will change once reaching FI. Will have to check out Jim Collin's post!Done By Fortyhttps://www.blogger.com/profile/06246597867355460723noreply@blogger.comtag:blogger.com,1999:blog-2980246226076317453.post-88360021283385495112017-11-08T17:11:54.108-07:002017-11-08T17:11:54.108-07:00$1k/year split into two payments if I'm unders...$1k/year split into two payments if I'm understanding correctly? Not bad! And Cayenne just knows the value of fertilizer. :P<br /><br />That's so awesome that you're still on track to reach FI by forty! I'm so happy for you guys! I have some ideas on the "debt repayment" but there are so many causes in need right now. I'd hone in on a cause or two that's really important to you, donate a lot, and then keep a little liquid so you can give throughout the year as things arise a little closer to home with people you know or within your community. Have you seen JL Collins stuff on how he set up a foundation? Tax benefits plus doing good. Femme Frugalityhttps://www.blogger.com/profile/07258982361804942329noreply@blogger.comtag:blogger.com,1999:blog-2980246226076317453.post-36994961890507695262017-11-08T09:49:44.196-07:002017-11-08T09:49:44.196-07:00Hey there, wealth from thirty.
I used to hate ya...Hey there, wealth from thirty. <br /><br />I used to hate yard work. Now in the new house, I like it. I have that pride of ownership and enjoy DIYing almost anything. I can't say what exactly flipped the switch.<br /><br />As you said, keeping the debt around could really provide an arbitrage play. Imagine if treasury bonds were paying out 5 or 6% in a few years.Done By Fortyhttps://www.blogger.com/profile/06246597867355460723noreply@blogger.comtag:blogger.com,1999:blog-2980246226076317453.post-71610851082511920322017-11-08T09:47:18.701-07:002017-11-08T09:47:18.701-07:00Yeah, we are suckers for our dogs, too. There'...Yeah, we are suckers for our dogs, too. There's nothing quite like seeing them happily rolling around in the grass.<br /><br />I hear what you're saying about the mortgage. For now, we have an opportunity to itemize & deduct a little of the interest: but it's not a huge savings. Still, over 30 years I just don't see how funds invested in a balanced portfolio wouldn't beat 4%.<br /><br />That's kind of where we are with it. We know that the math is pretty clearly against a mortgage payoff. But having paid off the house before, it does feel pretty good (for about 2 years) to be totally debt free. After that, we revert to the mean.Done By Fortyhttps://www.blogger.com/profile/06246597867355460723noreply@blogger.comtag:blogger.com,1999:blog-2980246226076317453.post-60538136438331223232017-11-08T02:34:08.642-07:002017-11-08T02:34:08.642-07:00Can see your point about paying off vs keeping the...Can see your point about paying off vs keeping the mortgage. It's a tough decision. Access to cheap debt could be handy in the future though and if it doesn't cost you much to keep the mortgage account then why not. Man alive though, you have a lush lawn! Come summer in Aus my old lawn would essentially just get the scorched earth treatment. Now that I live in an apartment I kinda miss the regular satisfaction of giving it a trim and a nurturing in winter.wealth from thirtyhttp://www.wealthfromthirty.comnoreply@blogger.comtag:blogger.com,1999:blog-2980246226076317453.post-71800259262260762092017-11-07T13:31:50.392-07:002017-11-07T13:31:50.392-07:00I didn't know you were in Arizona - I'm im...I didn't know you were in Arizona - I'm impressed that you're willing to do the work for a green lawn :) <br /><br />I'm a sucker for giving the dog the best home possible though, so I'll do my best to grow a bit of a lawn for Seamus. Look how happy Cayenne looks! <br /><br />We are extraordinarily lucky, aren't we? I'm debating between the mortgage payoff vs saving and investing the money too. For now, I'm focused on payoff because it's well over the point I'm comfortable. The interest rate is no great shakes (just under 4%), but the amount of interest that we'll pay over the lifetime of the loan if we don't pay down at least half of it is staggering. We'll reevaluate when it's sub $300K. As if that's such a small number! ;) <br /><br />I'd be interested in hearing your thoughts as you debate this yourselves. <br />Revanchehttps://www.blogger.com/profile/07293868300535734672noreply@blogger.comtag:blogger.com,1999:blog-2980246226076317453.post-56500124224948779372017-11-07T08:51:01.011-07:002017-11-07T08:51:01.011-07:00Agreed, Laurie. It's easy to get wrapped up in...Agreed, Laurie. It's easy to get wrapped up in our own push towards FI and forget that the fact that we're even considering such a goal means we're at the tippy top of the privleged pyramid.<br /><br />We should be vomiting gratitude every day, right?Done By Fortyhttps://www.blogger.com/profile/06246597867355460723noreply@blogger.comtag:blogger.com,1999:blog-2980246226076317453.post-22696883906734783482017-11-07T08:49:00.614-07:002017-11-07T08:49:00.614-07:00That's even more impressive! A thousand bucks ...That's even more impressive! A thousand bucks for a total bathroom re-do is amazing.<br /><br />I remember seeing pictures of the kitchen and I don't think it would necessarily be as involved as a total teardown. Seems like you have a good room as it is.Done By Fortyhttps://www.blogger.com/profile/06246597867355460723noreply@blogger.comtag:blogger.com,1999:blog-2980246226076317453.post-45378108602444175292017-11-07T03:31:31.816-07:002017-11-07T03:31:31.816-07:00Very nice on the expense front. I’m typing out our...Very nice on the expense front. I’m typing out ours for the month and I’m constantly amazed at the food costs. It was a great reminder that we’re so privileged and fortunate to be pursuing FI. Thanks for that!Laurie@ThreeYearhttp://www.thethreeyearexperiment.comnoreply@blogger.comtag:blogger.com,1999:blog-2980246226076317453.post-18843592648389249742017-11-07T00:49:59.295-07:002017-11-07T00:49:59.295-07:00OK... just to clarify, that $3K includes the cost ...OK... just to clarify, that $3K includes the cost of the area rugs for the rest of the house, as well as the ridiculously expensive stuff for sealing the concrete in the basement. The bathroom itself (including all the tools) was closer to $1K... of course I haven't resurfaced the tub yet...<br /><br />Anyhow, I'm glad you're optimistic about my kitchen project. I can't stop thinking about that horrible tar paper in the bathroom and wondering if I could live through that again! :-)EcoCatLadyhttps://www.blogger.com/profile/15704811319510740473noreply@blogger.comtag:blogger.com,1999:blog-2980246226076317453.post-70988836095877748932017-11-07T00:46:45.430-07:002017-11-07T00:46:45.430-07:00Bwahahahaha!!!!Bwahahahaha!!!!EcoCatLadyhttps://www.blogger.com/profile/15704811319510740473noreply@blogger.comtag:blogger.com,1999:blog-2980246226076317453.post-88585343364143056692017-11-06T20:15:27.922-07:002017-11-06T20:15:27.922-07:00Yeah, my health insurance is crazy cheap. The cost...Yeah, my health insurance is crazy cheap. The cost is further reduced by a healthy living program our company has for employees (basically, keeping BMI and some biometrics in range and not smoking), hence the crazy $12 per pay period cost. This will go up quite a lot once Mrs. Done by Forty and any future children come on to our plans and again if we leave traditional employment behind.<br /><br />And yeah, I'm sure a bathoom remodel dwarfs our own home improvement costs but $3k for a bathroom remodel is still really good! I think it looks sharp: and I'd personally vote to leave the sink as is.<br /><br />As you said, putting money into your home hypothetically raises its value. Even if you only get sixty cents on the dollar back, it's way better than the average expenditure by comparison.<br /><br />For what it's worth, I'd be pumped to see how your kitchen remodel turns out.Done By Fortyhttps://www.blogger.com/profile/06246597867355460723noreply@blogger.comtag:blogger.com,1999:blog-2980246226076317453.post-78018823277546187312017-11-06T20:07:53.627-07:002017-11-06T20:07:53.627-07:00That is AMAZING. And I kind of along the same line...That is AMAZING. And I kind of along the same lines...<br /><br />https://www.youtube.com/watch?v=D7DvEIfrP84&feature=youtu.be&t=24m54sDone By Fortyhttps://www.blogger.com/profile/06246597867355460723noreply@blogger.comtag:blogger.com,1999:blog-2980246226076317453.post-72724030543960488032017-11-06T20:04:54.353-07:002017-11-06T20:04:54.353-07:00I, too, did a double take on the health insurance ...I, too, did a double take on the health insurance cost. Hell, I pay more than that for my cat's monthly health insurance premium! Seriously though, I just renewed through the ACA and feel very fortunate for the tax credit because without it my premium for a $5K deductible plan would be around $600/month - apparently you get slammed once you hit 50 no matter how healthy you are.<br /><br />I'm also laughing at your paltry home improvement expense. With all of my bathroom remodeling, buying area rugs for the whole house where I ripped up the avocado green shag, and now tackling sealing the concrete in the basement, I'm sure I'm well over $3K for the past few months. And a tile just came loose from the kitchen floor signaling that my days of ignoring that room are quickly coming to an end. Sigh... first world problems. But hey, I guess you can look at those sorts of things as investments rather than pure expenditures.<br /><br />Anyhow, thanks for the gratitude reminder. I've been having a whiney day so it was quite timely. :-)EcoCatLadyhttps://www.blogger.com/profile/15704811319510740473noreply@blogger.comtag:blogger.com,1999:blog-2980246226076317453.post-58085548851975852002017-11-06T19:55:32.259-07:002017-11-06T19:55:32.259-07:00This is my visual on the fortune falling out of bu...This is my visual on the fortune falling out of butts thing... sorry, I couldn't resist. :-)<br /><br />https://youtu.be/KlEovr29KBU<br />EcoCatLadyhttps://www.blogger.com/profile/15704811319510740473noreply@blogger.comtag:blogger.com,1999:blog-2980246226076317453.post-28444575834340235952017-11-06T19:43:27.710-07:002017-11-06T19:43:27.710-07:00Wow, that's quite a lot, Kassy.
But yes, we ...Wow, that's quite a lot, Kassy. <br /><br />But yes, we have some idea what it costs. ;)<br /><br />Is that the cost for just you, or for a larger family? Any help from ACA?Done By Fortyhttps://www.blogger.com/profile/06246597867355460723noreply@blogger.comtag:blogger.com,1999:blog-2980246226076317453.post-47769174388561307152017-11-06T19:03:09.509-07:002017-11-06T19:03:09.509-07:00The health insurance costs employees get makes me ...The health insurance costs employees get makes me wonder if you have any idea how much it actually costs.<br />I'll spend $22800 on premiums this year and have a $7500 deductible. That adds up to over half of your total expenses.Kassyhttps://www.blogger.com/profile/08729311546936329823noreply@blogger.comtag:blogger.com,1999:blog-2980246226076317453.post-27569759408946177612017-11-06T09:41:58.090-07:002017-11-06T09:41:58.090-07:00I wish it were rainbows or pixy dust.
Cool that y...I wish it were rainbows or pixy dust.<br /><br />Cool that you're meeting other PF folks in person! Even those insufferable FIRE bloggers, ugh. ;)<br /><br />We certainly do have problems in this country: nothing's perfect. But our problems are someone else's dream scenario. Done By Fortyhttps://www.blogger.com/profile/06246597867355460723noreply@blogger.comtag:blogger.com,1999:blog-2980246226076317453.post-71458153273541823612017-11-06T09:39:53.155-07:002017-11-06T09:39:53.155-07:00That makes sense, Justin. We are thinking of refin...That makes sense, Justin. We are thinking of refinancing right before we leave full time employment, depending on rates and costs, and whether we want to actually lean into an arbitrage play.<br /><br />There's certainly a nice aspect of just being debt free, too.<br /><br />I suppose we have three more years or more to figure it out.Done By Fortyhttps://www.blogger.com/profile/06246597867355460723noreply@blogger.comtag:blogger.com,1999:blog-2980246226076317453.post-78127585779754773922017-11-06T09:33:24.968-07:002017-11-06T09:33:24.968-07:00'We have fortune falling out of our butts over...'We have fortune falling out of our butts over here." Hmmm, what does that look like exactly? Rainbows? Unicorns? Pixy dust? :) I met up with some local FIRE people over the weekend (Waffles on Wed, who I actually knew in person before they became bloggers), and as I was talking about my "problems" I realized just how first world, middle class white people they really were, and that anyone should be so lucky to have my "problems." I think acknowledging and being grateful for what we DO have is so important. It's not that you can't pursue your dreams and should just settle, but just check in from time to time to take stock of what you do have in life. Tonya@Budget and the Beachhttp://budgetandthebeach.comnoreply@blogger.com