Also interested. Only for myself, lol.
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Thanks! I thought it was based on last years income and assumed I would make that income every year going forward. That will certainly not happen, so I figured I would have to lessen the number given.
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I think it’s common to think that. I learned how to calculate mine on the MMM forums. My main takeaway, after playing with the calculator/spreadsheet I found there, was that shortening my career by 5-10 years has much less of an impact than I assumed it would. 
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I will do the calculator, but the number given was around 1850. If I assume 75% like you mentioned, that’s about 1400. I’m not sure about inflation of course, but I might need 1000 additional. That means if I live 20 years I need 250k? Might be living in my brothers basement. Lol
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But your house is already paid off…so your cost of living goes down a shit ton at that point. AND, if money runs low you can get a tenant or refinance or reverse mortgage or whatever. Or be like that lady in France who sold her apartment with a clause to stay and outlived the buyers.
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My house is close to paid off now, so I need to remember that once it is, I will be saving/investing much more than I am now so I will have more principal to pull from. Along with smaller expenses I will have higher savings. My brother will be happy to not have me in his basement! Lol
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Yes!
My paid off house is my rental. I moved out and now it gives me good solid income. The place I moved to has space for roommates and they cover all housing costs. There are ways to monetize a paid off house.
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Will you sell your current home to buy the new house or will you have two rentals?
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My current house would be a pain to landlord. I’m selling it.
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I know that a popular talk on procastination helped me lot (https://www.ted.com/talks/tim_urban_inside_the_mind_of_a_master_procrastinator?language=en)
I have a hard time doing what I’m supposed to do and understanding why and how it’s common helped me be easier on myself.
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Oooh, the blog posts he wrote that are the basis of that talk are truly excellent.
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Oh I didn’t know there were blog posts; thanks!!
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Yep, search for Wait But Why and procrastination. Is also really like his posts called “Taming the Mammoth”. But many, many posts there are deeply awesome.
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Motivation stuff:
Non science, Gretchen Rubin’s book “better than before” about Habits was a good read for me.
Science/medical: “stages of readiness for change“ model is what we learn/use in nursing. Lots of info online.
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And for the coronavirus question earlier, this is a great article: https://www.nytimes.com/interactive/2020/world/asia/china-coronavirus-contain.html?smid=fb-nytscience&smtyp=cur&fbclid=IwAR1NF6KUilbgbM8VU9_rjnLE96CU7pXRDAfeyh5LLN92tju_gvYEeNdCEUc
I just started this month tracking my monthly expenses and have a question.
I had to get new tires, but the money came from savings, not from my monthly paycheck. I do not have a line for “savings that will be spent soonish” (like tires or furnace repair), so do I put the tires in my auto category for this month? Or do I make a savings line and don’t put in anything I pay from that account each month because it is already in the savings line? I suppose it doesn’t matter either way, but will one give me a more accurate number spent? I put money in my “revolving” savings each week, and take it out sporadically. I do have a line for long term savings, so maybe I am mixed up in how I did my list…
I pay my cc off each month, so maybe I should just track what I spend knowing that everything gets paid whether it is from paychecks or savings and ignore income?
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I personally put vehicle repairs and purchase/payments/registration etc in one category and fuel in a second category.
So, just all money spent is tracked, not short term savings which will be spent within say 6 months?
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I categorize things as they go out and draw from a general cash buffer in YNAB. I keep the cash buffer large enough that I know we’re not running out unless we have a couple bad months in a row.
This is what do, regardless of where the money came from.
I do track my income, but more as a total, so I can see over the whole year how much I’m spending related to my income.
For spending, I want to know how much I’m spending in different areas and why, so I do link the purchase to the spending category (tires in Auto, milk in Groceries, dog food in Pets, etc), even if I’ve saved up for it in a different place.
It definitely took me a few months to figure out my “system” and then a few changes over time to figure out what I need to focus on and how that works best for me.
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