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URL:  http://boards.fool.com/notlance-wrote-it-seems-to-me-its-not-how-low-11810645.aspx

Subject:  Re: How low can you go? Date:  1/14/2000  5:50 PM
Author:  intercst Number:  2210 of 740979

notlance wrote,

It seems to me it's not how low can somebody possibly go, nor is it how low can somebody like me can go. Rather, it is how low can I go? The best way to answer that question, IMHO, is to keep track of what you have spent in the past. And by that I mean every dollar. Over the last 7 years I have kept track of 99.7% of my spending. (I wish I knew where that last $200/year was going.) I found out I spend more that I thought.

Excellent point.

I tracked my spending for 3 years before I retired. I I'm not sure I identified the last $200, but since my spending was more or less level, I figured I had a good idea of what was required.

Also, make sure you add items you may not be paying out of your pocket while employed (e.g., health insurance premiums.)

intercst

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