is this a logical budget for me to retire on?

[FuckRx]

so I'm trying to guesstimate my monthly expenses once I decide to stop working in 2019. I will likely be renting, won't have a car and probably be single. I'll be in my early 40's then and living in Portland Or.

rent 850
groceries 300
health insurance 250
coffee/eating out 100
entertainment 100
travel 50 (increased from 30 to 50)
household 30
transportation bike maintenance 30 (added this)
amazon/netflix 20
cell 20
wifi 30
clothing 5


that's about $1,785/mo. I'm sure I'm missing something. I figure whatever else I need I can always do a little work on the side to get cash. As an example, I might want to take a trip that might cost $500, I could always do a few shifts of either the work I already do or something else. 

[PowerMustache]

Looks completely reasonable to me. But the best gauge of whether it's reasonable for you is your current spending.  How does this compare? For example, if you're currently spending $400/month on entertainment, then it's going to be a big adjustment to jump down to $100/month in retirement.

[AJ]

Does your rent include all utilities (electricity, water, sewer, garbage, etc.)? Also, you have health insurance but no line item for health cost (deductible & co-pays). Maybe irregular expenses like computer or furniture, but I don't imagine that would be much.

That's all I can think of.

[Longwaytogo]

What about transportation? You say you will not have a car but do you use any public transit, taxi, uber, etc? Even if you bike everywhere whats you yearly bike maintenance/replacement cost.

I would certainly spend much more than $30 on travel if I was not working; but you know your situation so that could be fine.

[FuckRx]

Yea I thought about that. But I have to assume that my health will continue as best as I can maintain it and if that's the case I want nothing to do with a hospital/doctor's office if I can avoid it. Though you're right I should add a little for basic stuff like a lab blood test, a simple dentist visit. Any major expenses like needing a root canal or a surgery I'll take from my emergency fund. As for rent I think by 2019 rent probably will be higher but yea so I accounted for utilities in that. I kept the numbers in today's dollars.

So I'll probably need a little over 500k saved in a brokerage account, that should provide me close to what I need I think. Won't leave much room for bad months/years but would be a solid base right?

[FuckRx]

As for travel and other unexpected expenses, again I would love to hear people's input on this, but I was thinking I'll have a little e-stash and if I need to draw down from it then I will and on better months when my portfolio does well then I will add back into it. If all of a sudden I want to buy me a new fancy pants jacket or car then I'd find a side hussle/job and make the money for the expense.

[Gone Fishing]

Can you beat down your rent expense at all?  Even 100-200 a month would make a real difference in your budget.  One other thing to consider is inflation, sure you are only 4 years out, but it seems like prices are climbing at a pretty steady clip, even a simple 3% a year would be a 12% increase by 2019.

[FuckRx]

Can you beat down your rent expense at all?  Even 100-200 a month would make a real difference in your budget.  One other thing to consider is inflation, sure you are only 4 years out, but it seems like prices are climbing at a pretty steady clip, even a simple 3% a year would be a 12% increase by 2019.

So I did list these numbers in today's dollars because I figure my accounts/savings would proportionally inflate in value. You know it might be possible to knock some off that rent. The way that might work is that I take up to 150-200k out of my savings and buy a cheap condo cash. It would still leave me with HOA dues and taxes. Maintenance on a condo would be very little and I could do it myself.

[AllieVaulter]

Rent depends a lot on where you'll be living.  I rented downtown for two years while I was in grad school and I paid $800/mo for a 400 sq ft studio apartment (six years ago).  Obviously the farther you get from downtown, the more rent goes down. 

My second apartment was about half the cost, BUT, you had to be a student (of any school - Portland has many:  art, culinary, liberal arts).  I can't remember if it was required to be a full time student, but if you're taking classes, it can cut your costs a LOT.  However, the atmosphere is very much like a dorm - frequent fire alarms & late night noise. 

There is also low-income housing.  You might actually qualify for that, but I'm not sure if they check on investments.  Again, there is the atmosphere to consider.  A lot of these brand new buildings get super run down in a very short amount of time. 

All that to say, if you want a nice place, I'd plan on budgeting $800/mo or getting a roommate.