My system is look at the bills and pay them. I check the monthly checking account and credit card purchases to make sure there are no unauthorized payment charges and the bottom line to see if I'm up or down for the month. Best part of yesterday, I found a billfold when walking my dog yesterday, still had money in it, looked up the location on the driver's licence and returned it to the owner. A young family type guy with small kids and he was very thankful to get it back.... with the money and debit/credit cards.
Very good job keeping a lid on spending and not spending too much more than social security. As someone who has an accounting degree, I appreciate the time and effect you must have spent doing that degree of record keeping. One of my best decisions was to wait until age 70 to start my social security while my wife starting on hers at 62. Enjoy your videos.
Thanks! Even though it's manual entry in the Every Dollar app I confirm all entries with my credit card transactions. Helps me to realize where every penny goes. Buzz
I cant believe I have already been watching your channel for over a year. I ways liked your personality and hope you can continue to get more views and subscribers so you can stay retired! You're doing great so far!
Board looks great Buzz! It’s very dreary here too (Michigan). I had to laugh when you said “see you in February!” I was like “wait, what?” Then I realized it is now February. Lol 😊
Hi Buzz! It's been a minute but I'm still here. Been busy with getting our home ready to sell. Nice to see the new board and to hear that everything is moving in positive directions for you. Great to see that positive progress for you and Mrs. Buzz!
Looks like you guys are still doing good and you have a positive sound in your voice. Take care. Don't forget to do some stories from the past every once and a while. Marc C. out
Awesome calendar! Lol. I'll be on live stream tomorrow. Finally feeling better. Hopefully inflation will ease up over the coming months. Take care my friend!
Always interesting to see. I'm glad you had a pretty good year. We had every (!!!!) small kitchen appliance die last year, and we had to replace our car AND a new water well. It was a terrible year, but we had savings and were ok. I'm hoping for a better year. But this also shows how important it is to have back-up (financial). I would hate to think if we didn't have savings.......... Best to you and Mrs Buzz
I think you're doing great. Hopefully, it'll warm up soon and the gas bill will come down. Plant some veggies in the spring and that'll knock down groceries. Keep it up!
Ooooh! Investments! Verrry interested to hear take on those! And yeah I like the lines on the whiteboard! Put up an affiliate link for buying whiteboard with lines and I just might pick one up
Good to see that you had a surplus. February is going to be an expensive month for us. The marina bill is due and it is a bit over $6K (ouch). That will push our February costs up pretty high. Oh well, I guess I was wrong when I told my wife owning a yacht was going to be cheap.
Great info,and suggestion to get on AARP,they have discounts for restaurants etc.Also we did 2 yrs ago the Homestead exemption and saved $500.00 per half yr. And luv the sweatshirt Primos and if your ever in Akron--Diamond Deli is the greatest,the sandwiches are huge and very good!!!!
We have triple A and AARP but I never remember to ask if they take the cards. I have to do a better job! Diamond Deli is the best! When I worked in Akron boss would always order from there when we had customers etc. come in. The names of the sandwiches change but they're funny as heck! www.diamonddeli.us/
The whiteboard looks cool and professional. I thought it was new but I saw where you just added the stripes. Looks nice. Your budget is interesting. I probably spend half as much for food (me and son) but we seem well fed. Of course I live on considerably less money also but it’s fine. I’m good. It is just interesting how other people prioritize and spend and of course tracking it is super sensible. I somewhat do, have budget, write it all down. I hope you don’t have a big tax hit, probably not. :)
So far , with me not being able to work anymore because of my double lumbar fusion at 58 , and no disability money yet . Luckily with no income from me , we still haven't touched our savings 🙏 . My wife has a very good job and we watch our money . But definitely no extra spending , unless it's necessary . Thank God we paid off our home at 55 . Good information Buzz 👍 .
Haven't been there in a while but they're good. They built an Amazon warehouse nearby so I wonder if that helped sales? I'm lucky on the auto insurance and they said I could put a tracker in my vehicle for up to a 30% discount. Not a fan but I may do it.
Happy belated birthday Buzz. I've been watching your past 6 months of videos and enjoy them very much. Perhaps I missed some points that I don't see in today's topic that you may have addressed before and that's dealing with any particular cost related to medical as far as doctor's visits or PT or medicines does that fall into a particular category other than miscellaneous on your board or maybe you guys are super healthy? Also on your car insurance is that full coverage you have or just liability? I too track very like categories and have been since 2018. My wife and I are on social security now - so far it's footing the bills for us for the past 4 years. Of course some extra expenses such as a furniture purchase comes out of savings 😅😅.
Great update! You and your wife will like RUclips TV a lot. It is now 82.99 a month, but includes unlimited DVR and you can use it anywhere, including on the go on your phone.
Yes, you to need to get RUclips TV. If I can have my 85 yr old mother using it and liking the savings then I am sure it will work out for you as well. I was using FUBO before RUclips and it was not meeting expectations. Only the regional sports and local news were working for us. RUclips TV has much better content and the streaming resolution is better. I watch a RUclips channel called CordCutters and there is a pretty good update on this space. There is going to be so much change in this service space going forward you are almost guaranteed it will change again.
The whiteboard looks cool and professional. I thought it was new but I saw where you just added the stripes. Looks nice. Your budget is interesting. I probably spend half as much for food (me and son) but we seem well fed. Of course I live on considerably less money also but it’s fine. I’m good. It is just interesting how other people prioritize and spend and of course tracking it is super sensible. I hope you don’t have a big tax hit, probably not.
Hey!! In the black is always a good thing. Posting mid-week videos (ramblings of a lunatic, etc. LOL) would boost your RUclips income back up, right? And us viewers always look forward to them! 😉 Hope it was a great and productive week on the reno.
Great seeing you making things work. The food decrease is 10%! You could turn it into a 10% challenge. If you cut food costs 10% for the year, both of you go out to eat as a reward. Just an idea to make it like a game.
Always a pleasure watching your video's. Don't forget 2024 taxes to be filed. Expected money back? or pay? or zero? Especially being on ACA. The rules are so strange it is hard to follow and it can affect your outcome. Our youtube tv just went up to $92/month. Still better than cable. Plus we went to Quantum fiber for internet. $35/month for life.(supposedly). We also switched to Mint mobile. $30/month 2 lines for 5gb data. So far it's working out perfectly and cut our mobile bill in half. Mrs. Buzz needs to give up the land line. Happy life, somewhat disgruntled wife. She will get over it once it's gone for a few months and she realizes she really didn't need it. Extra $$ to spend on bird seed .LOL
Yes the ACA issue is a real problem. I'll do a video at the proper time discussing my nightmare. Lol. My first year on SS and self employed I have no idea what taxes will look like. I'm sure I'll be paying something. My first goal is to get her off cable. This is start of year 2 that I've been pushing. Then I'll go after phone. We'll keep improving I hope. Buzz
Good video Buzz, I’m a few months from 65 ,still working but the facility I’m at is closing and the transfer doesn’t appear to be appealing. So I’m thinking it’s time to hang it up. Your videos have given me some insight as I plan on a similar setup as you. Using SS for day to day , and not touching pensions etc.
It's doable especially if you're debt free or close to it or have a nice nest egg. No house or car payment really helped me. I know I'll need another car in a few years so I'm hoping the market stays strong.
Love your end of month expenses. I was thrilled the Visa bill for January was around 65.00. It usually hits the $100.00 monthly mark. Believe it or not, we still have a landline. Cost is 25.00 a month. I want to get rid of it, he says NO. Happy man, happy life 😛.
I feel there's worse things to worry about than the phone line. Let them have it if it makes them happy. She doesn't use her cell phone so that's probably why she wants an alternate.
Yeah, you’re right. If it makes them happy 😆. Callipari is back in the arena tonight. It will be BLUE all the way at Rupp. Even if you don’t follow UK basketball...wish us the best. UK Wildcats versus Arkansas.
Wow, only 25 bucks a month. I might have kept mine if it was just 25 dollars. They were making me pay almost 90 a month when I disconnected about 15 years ago. Is it true landline (from the pole) or a plugin from a cell phone company?
Either YT or working a PT job. If things go the way I hope I can relax more in 5 years. Hope everything is going good for you. You moved in to the new place yet or still being built?
@BuzzRetirementGarage, still hanging close to the grandson, helping the SiL & Daughter get thru school. We're in no hurry. We did get some T-post driven along the back property line to help fence in the complete perimeter done. Projects are keeping us occupied in retirement!
Your home insurance is out of whack when you look at what you're paying on your property tax. I live in MN in an 1150 sf ft home with a 2000 deductible and paying 242.56 in property tax and my home insurance comes to 164.73 per month, so how can your home insurance be lower @ 58.00 per month and live a nicer home according to what you're paying on taxes? We don't live in a flood zone, fire zone or hurricane area either. Most people don't check on what they're paying on their monthly home insurance and property taxes because they have a mortgage but after they make their final mortgage payment while now seeing bank withdrawals every month out of their checking acct, it becomes a serious reality.
Since it's your first full yearly cycle of youtube I'll let you in on a secret. January the monetization goes way down. $800 is still quite high for just making talking videos! Keep it up.
Buzz - do you have a video covering your longer term plans? you mentioned living off SS for a little while, so I wondered if you’re doing that as a bridge waiting on a pension to be at the right level for you, or for investments to grow?
Now that we are retired we went with a limited mileage plan with Allstate for auto insurance. You have to put a tracker in your car to track miles driven, but I don't care if they see I went to the grocery store, etc. They would get bored following me, anyway it saved us a lot of money and we really only shop local and don't travel much so we go less than 1000 miles per month between both cars.
Buzz we don’t have dental insurance. We have Carrington dental discount plan “500” it gives big discounts for dental. We really don’t get much more than cleanings.
I have some crowns that are old. I know I need one replacement. This year paying the premium will probably work out than not having it. We'll see. Buzz
Do you have taxes withheld on your social security, you said that the figures you give are a gross number, just curious. I find we track pretty close to your numbers, we are located in southern ohio Thanks for Jan. update, looking forward to Feb. numbers although I bet utilities will be higher due to cold weather here in Ohio
Happy January Birthday 🥳 I love these videos, they are so helpful!! Do you put everything on credit card, then put everything in a category? Can you elaborate on homestead tax please. This is my husband’s last month of working 😮 I’m a nervous wreck. Also excited!!
Most everything is paid with CC. Some bills I pay from checking account because they charge extra for CC payments. In my county in Ohio we get a 25% reduction if you're over 65 and make less than 35,000. They don't include SS. They deduct from the retail value of house and land. Every state probably does it differently. Good luck my friend! Buzz
Looking back would you have been better off to have waited a couple years before drawing SS? You could have gotten $300ish more each month on your check by waiting a couple years.
After doing the math you will never make up what you didn’t get by waiting. Would take eleven years to make the $42.00 more I would get by waiting two months to take SS
@@sunnykindagal I've done the math, and it depends on how long you live. If I live to 80 I will make $14,000 more by drawing at 66 rather than 62. It's not about making the most money though. Like in Buzz's case he would have been better off to have that extra $300 a month by waiting two years to draw it. That would have paid all his bills with some left over. It's not always feasible to do that though, I get that. SS website has a great calculator to see how much you can get for each year you claim.
Not necessarily better off. Numbers look great on paper, but so many variables come into play. I’m sure we all wish we had that crystal ball to tell us what to do. I retired earlier too. Working 4 more full time years was just not worth it, to get the little extra money in the check. Life can unexpectedly change in a day. If a person doesn’t have their health, any amount of $$ means nothing. Everyone’s situation is different. There really isn’t one right answer.
@@karendjohn8803 Agree health is more important than money. We just have to make a choice and hope for the best. I quit working at 57 and will draw SS someday when it makes sense depending on the variables you speak of.
I had to laugh about your comments on the "land line". You are paying $18 to not answer your phone. We got to that exact same point about 10 years ago, we had a ton of features added to our line so we didn't have to answer the phone (answering machine, caller ID, call blocking, etc.). Finally one day I asked my wife if we could just drop the landline and just use our cell phones that had all of those features included. We did and haven't looked back.
What is the reason Mrs Buzz wants a land line that is not a landline but rather internet? Just curious about her reasoning. Enjoy listening to your budget talk.
are you going to include the steps as an expense like this? I think it’ll skew your numbers. Like the way you keep youtube income off this, I’d consider keeping this to just your regular income/expenses - ‘infrastructure’ spend like home maintenance that is significant I’d consider capital spend from your savings. Worth recording but not worth blowing your monthly numbers IMO
Good job Buzz, but at the risk or being a pest, that Medicare cost can be reduced to almost zero from $633/mo $7600/yr ; at least research Advantage plans. The knowledge can't hurt.
PROPERTY TAXES. I fully support our schools. However how is it we have bought something that we will never pay off !! Ohio needs to completely revamp the property tax system. We need to find other ways to fund all the items listed on the property tax bill. We we go on social security the tax bill should be cut by 3/4 for retirees. 👍🏻👍🏻👹
Thanks for taking care of that. I usually get two or three on every video. They hit in the early am hours so that tells me they're from another country. Appreciate you looking out.
I deferred much to 2025 which in hindsight was foolish because I'm learning that even though the 1099 only showed $5,000 I technically need to report all 2024 earned income, 1099'd or not, for 2024. Yes, I'll pay taxes.
@@BuzzRetirementGarage Well not much of your social security will be taxable. Unless you had other taxable income in addition to RUclips and social security, your taxable income will be around 19.5K, which is $13K less than the standard deduction. You will have to pay about $2,500 in FICA taxes on the RUclips income unless you are able to deduct quite a lot. So basically no income tax, but a hefty FICA tax bill.
@@BuzzRetirementGarageYes, you must pay tax on income in the year it is earned and available to you, just like interest earned on savings. One might not spend that interest for several years but it has to be reported in the year earned.
My system is look at the bills and pay them. I check the monthly checking account and credit card purchases to make sure there are no unauthorized payment charges and the bottom line to see if I'm up or down for the month. Best part of yesterday, I found a billfold when walking my dog yesterday, still had money in it, looked up the location on the driver's licence and returned it to the owner. A young family type guy with small kids and he was very thankful to get it back.... with the money and debit/credit cards.
People like you make me smile. You're A1 in my book! Buzz
A more important act of kindness than you might ever know. Thanks for that, and the example.
Looks like you upgraded the white board a little. Looks great 👍🏼
AutoZone striping tape.
... and you've changed the order of months ... succumbed to peer pressure?
@@kelsikennedy6796 Continual improvement. Never stay static.
I was just about to say that. He is checking to see if we are paying attention😀
Very good job keeping a lid on spending and not spending too much more than social security. As someone who has an accounting degree, I appreciate the time and effect you must have spent doing that degree of record keeping. One of my best decisions was to wait until age 70 to start my social security while my wife starting on hers at 62. Enjoy your videos.
Thanks! Even though it's manual entry in the Every Dollar app I confirm all entries with my credit card transactions. Helps me to realize where every penny goes. Buzz
Good review ... unfortunatly the us politic with Canada should affect our economies.......... will see
I cant believe I have already been watching your channel for over a year. I ways liked your personality and hope you can continue to get more views and subscribers so you can stay retired! You're doing great so far!
I can't believe I've been doing videos for over a year! Even in retirement time is moving fast!
Board looks great Buzz! It’s very dreary here too (Michigan). I had to laugh when you said “see you in February!” I was like “wait, what?” Then I realized it is now February. Lol 😊
Happy February 1st!
Great update, Buzz. Love the detail and all the nice straight lines!
AutoZone striping tape. Lol
@@BuzzRetirementGarageI thought maybe you got a new whiteboard, looks great!
Enjoy the weekend, Buzz!
Thanks! You too!
Hey Buzz, I watched all the way through and let all the ads run! You and Mrs. Buzz are doing great.
You don't have to do that but I appreciate it!
@@BuzzRetirementGarage It's no skin off my nose! My way of helping your channel.
Really enjoy your videos and your down to earth personality
Thank you! I appreciate you being here. Buzz
Howdy neighbor! Lyndhurst here. Love the channel, and as usual another great video.
Hello eastsider! Thanks for stopping by! Hope our weather starts improving. I'm tired of looking at snow. Buzz
I think any plus is a real winner. Great job on the breakdown. So helpful.
Thanks for taking a look!
I always enjoy this presentation Buzz. Helps others see a typical retirement budget. Thanks.
Shows people what not to do! Lol
Hi Buzz! It's been a minute but I'm still here. Been busy with getting our home ready to sell. Nice to see the new board and to hear that everything is moving in positive directions for you. Great to see that positive progress for you and Mrs. Buzz!
I haven't done many videos so you haven't missed much. Winter blahs I guess. Hope everything is working out with the house.
Looks like you guys are still doing good and you have a positive sound in your voice. Take care. Don't forget to do some stories from the past every once and a while. Marc C. out
I think I'm over my winter blahs. Snow has been on the ground a long time. Finally warming up a bit. Helps a lot. Thanks for being here! Buzz
Awesome calendar! Lol. I'll be on live stream tomorrow. Finally feeling better. Hopefully inflation will ease up over the coming months. Take care my friend!
You like that calendar? I know a guy....See you tomorrow at 7!
Wow. I didn’t think I would see another budget. Thanks Buzz
Back by popular demand.
Love these updates. Your channel is a lot of fun to watch.
Thanks for the idea with the pillow 😮
Great video, you are doing ok. Better be nice to Mrs. Buzz or hide your pillows🤣🤣🤣🤣🤣🤣The best to both of you!
Hide the pillows! Good advice.
Great job Buzz! Keep it going!
Thanks! I appreciate you! Buzz
Always interesting to see. I'm glad you had a pretty good year. We had every (!!!!) small kitchen appliance die last year, and we had to replace our car AND a new water well. It was a terrible year, but we had savings and were ok. I'm hoping for a better year. But this also shows how important it is to have back-up (financial). I would hate to think if we didn't have savings..........
Best to you and Mrs Buzz
We MUST have "emergency" savings!
Always appreciate you sharing this Buzz!
Thanks for dropping in.
Thanks for another excellent video and you did great on your expenses. Happy birthday to you Buzz, many more happy and healthy days to you!
Thank you my friend!
Good job Buzz and Mrs Buzz!! I'd suggest keeping RUclips ads on since it probably helps with RUclips pushing out your content.
I think you're doing great. Hopefully, it'll warm up soon and the gas bill will come down.
Plant some veggies in the spring and that'll knock down groceries. Keep it up!
Thank you for putting lines between the categories. It makes it so much easier to read.
Continual improvement.
Bro! Nice job ! Thanks for your channel. Measure what you expect ! Love it
Thanks for stopping by! Buzz
Ooooh! Investments! Verrry interested to hear take on those! And yeah I like the lines on the whiteboard! Put up an affiliate link for buying whiteboard with lines and I just might pick one up
Basic whiteboard with AutoZone striping tape. Lol
Your board is so nice and neat! That must have taken you a while. Great job.
AutoZone striping tape. I wish I would have purchased the thinner tape but this works fine. Thanks for stopping by!
Hey Buzz! Good job with your presentation!
Thank you my friend!
Thanks for sharing I appreciate and enjoy the content Happy belated Birthday 🎉
Thank you! I appreciate you being here.
I’ve learned so much from you sharing your retirement experience. Thank you!
I'm glad I can show people what not to do. Lololololol. Thanks for watching! Buzz
Good to see that you had a surplus. February is going to be an expensive month for us. The marina bill is due and it is a bit over $6K (ouch). That will push our February costs up pretty high. Oh well, I guess I was wrong when I told my wife owning a yacht was going to be cheap.
This is the last year right?
@ Probably. It depends on my wife's health.
Great info,and suggestion to get on AARP,they have discounts for restaurants etc.Also we did 2 yrs ago the Homestead exemption and saved $500.00 per half yr. And luv the sweatshirt Primos and if your ever in Akron--Diamond Deli is the greatest,the sandwiches are huge and very good!!!!
We have triple A and AARP but I never remember to ask if they take the cards. I have to do a better job! Diamond Deli is the best! When I worked in Akron boss would always order from there when we had customers etc. come in. The names of the sandwiches change but they're funny as heck! www.diamonddeli.us/
We tried living on our expected SS income with our current expenses for three months. We learned a lot about what we need to do before hubby retires!!
Always a good idea to track before retirement. In some cases it can be eye opening. Buzz
The whiteboard looks cool and professional. I thought it was new but I saw where you just added the stripes. Looks nice. Your budget is interesting. I probably spend half as much for food (me and son) but we seem well fed. Of course I live on considerably less money also but it’s fine. I’m good. It is just interesting how other people prioritize and spend and of course tracking it is super sensible. I somewhat do, have budget, write it all down. I hope you don’t have a big tax hit, probably not. :)
I like your monthly updates!
I’m glad January is over
@@calvinreichelderfer4922 Me too
I find this interesting. Keep it up.
Thanks for coming by!
So far , with me not being able to work anymore because of my double lumbar fusion at 58 , and no disability money yet . Luckily with no income from me , we still haven't touched our savings 🙏 . My wife has a very good job and we watch our money . But definitely no extra spending , unless it's necessary . Thank God we paid off our home at 55 . Good information Buzz 👍 .
Hi Dave!
@BuzzRetirementGarage Hi Buzz ! I hope you are doing well . We definitely need the warmer weather 🌞
Looking good. I look forward to this breakdown. Very educational for me.
Did I miss you shooting the potato gun?
@@BuzzRetirementGarageI posted it as a short. It’s pretty amazing.
Great job! New white board Buzz?
Same board but AutoZone striping tape. We had a large whiteboard at work that the ladies put the striping on. That's where I got the idea.
I'm predicting sales at "Primos Deli" in Akron Oh. are gonna be up. I'm definitely envious of your Auto Insurance premium.
Haven't been there in a while but they're good. They built an Amazon warehouse nearby so I wonder if that helped sales? I'm lucky on the auto insurance and they said I could put a tracker in my vehicle for up to a 30% discount. Not a fan but I may do it.
Happy belated birthday Buzz. I've been watching your past 6 months of videos and enjoy them very much. Perhaps I missed some points that I don't see in today's topic that you may have addressed before and that's dealing with any particular cost related to medical as far as doctor's visits or PT or medicines does that fall into a particular category other than miscellaneous on your board or maybe you guys are super healthy? Also on your car insurance is that full coverage you have or just liability? I too track very like categories and have been since 2018. My wife and I are on social security now - so far it's footing the bills for us for the past 4 years. Of course some extra expenses such as a furniture purchase comes out of savings 😅😅.
Looking good Buzz….❤️🌵
Thanks!
Great update! You and your wife will like RUclips TV a lot. It is now 82.99 a month, but includes unlimited DVR and you can use it anywhere, including on the go on your phone.
Yes, you to need to get RUclips TV. If I can have my 85 yr old mother using it and liking the savings then I am sure it will work out for you as well. I was using FUBO before RUclips and it was not meeting expectations. Only the regional sports and local news were working for us. RUclips TV has much better content and the streaming resolution is better. I watch a RUclips channel called CordCutters and there is a pretty good update on this space. There is going to be so much change in this service space going forward you are almost guaranteed it will change again.
I follow cord cutters on Facebook. They have good ideas.
We did the trial and I liked it. Still have to figure out Indians games. They need another app for most games.
The whiteboard looks cool and professional. I thought it was new but I saw where you just added the stripes. Looks nice. Your budget is interesting. I probably spend half as much for food (me and son) but we seem well fed. Of course I live on considerably less money also but it’s fine. I’m good. It is just interesting how other people prioritize and spend and of course tracking it is super sensible. I hope you don’t have a big tax hit, probably not.
Thanks for being here. We'll keep making changes as we go. Her GF stuff is a killer.
Primo's Deli... An Akron landmark. Only does take out these days. Kinda miss the "sit down" dining they used to offer.
Enjoy your weekend….❤️🌵
Everyday is the weekend. Just the nighttime TV shows change. Lol
Hey!! In the black is always a good thing. Posting mid-week videos (ramblings of a lunatic, etc. LOL) would boost your RUclips income back up, right? And us viewers always look forward to them! 😉 Hope it was a great and productive week on the reno.
Let's see if I can get back in the groove. I need new steps!
Great seeing you making things work. The food decrease is 10%! You could turn it into a 10% challenge. If you cut food costs 10% for the year, both of you go out to eat as a reward. Just an idea to make it like a game.
We hope to see some month after month consistency. Time will tell.
Always a pleasure watching your video's. Don't forget 2024 taxes to be filed. Expected money back? or pay? or zero? Especially being on ACA. The rules are so strange it is hard to follow and it can affect your outcome.
Our youtube tv just went up to $92/month. Still better than cable. Plus we went to Quantum fiber for internet. $35/month for life.(supposedly). We also switched to Mint mobile. $30/month 2 lines for 5gb data. So far it's working out perfectly and cut our mobile bill in half. Mrs. Buzz needs to give up the land line. Happy life, somewhat disgruntled wife. She will get over it once it's gone for a few months and she realizes she really didn't need it. Extra $$ to spend on bird seed .LOL
Yes the ACA issue is a real problem. I'll do a video at the proper time discussing my nightmare. Lol. My first year on SS and self employed I have no idea what taxes will look like. I'm sure I'll be paying something. My first goal is to get her off cable. This is start of year 2 that I've been pushing. Then I'll go after phone. We'll keep improving I hope. Buzz
If you can cross your toes that sounds like a good side hustle at the state fair😂
Anything for a buck!
Good video Buzz, I’m a few months from 65 ,still working but the facility I’m at is closing and the transfer doesn’t appear to be appealing. So I’m thinking it’s time to hang it up. Your videos have given me some insight as I plan on a similar setup as you. Using SS for day to day , and not touching pensions etc.
It's doable especially if you're debt free or close to it or have a nice nest egg. No house or car payment really helped me. I know I'll need another car in a few years so I'm hoping the market stays strong.
Your RUclips income definitely helps the bottom line overall. (I know it’s not included here, but it’s nice to be above water)
Yes but it's so unpredictable that I try not to count on it for anything. Kind of an end of month bonus based on sales.
Love your end of month expenses. I was thrilled the Visa bill for January was around 65.00. It usually hits the $100.00 monthly mark. Believe it or not, we still have a landline. Cost is 25.00 a month. I want to get rid of it, he says NO. Happy man, happy life 😛.
I feel there's worse things to worry about than the phone line. Let them have it if it makes them happy. She doesn't use her cell phone so that's probably why she wants an alternate.
Yeah, you’re right. If it makes them happy 😆. Callipari is back in the arena tonight. It will be BLUE all the way at Rupp. Even if you don’t follow UK basketball...wish us the best.
UK Wildcats versus Arkansas.
@@MargaretGSmith-c1q Good luck!
Wow, only 25 bucks a month. I might have kept mine if it was just 25 dollars. They were making me pay almost 90 a month when I disconnected about 15 years ago. Is it true landline (from the pole) or a plugin from a cell phone company?
I hope your YT earnings continue to offset your expenes, so inflation creep doesn't put a squeeze on you down the road. ❤
Either YT or working a PT job. If things go the way I hope I can relax more in 5 years. Hope everything is going good for you. You moved in to the new place yet or still being built?
@BuzzRetirementGarage, still hanging close to the grandson, helping the SiL & Daughter get thru school. We're in no hurry. We did get some T-post driven along the back property line to help fence in the complete perimeter done. Projects are keeping us occupied in retirement!
Your home insurance is out of whack when you look at what you're paying on your property tax. I live in MN in an 1150 sf ft home with a 2000 deductible and paying 242.56 in property tax and my home insurance comes to 164.73 per month, so how can your home insurance be lower @ 58.00 per month and live a nicer home according to what you're paying on taxes? We don't live in a flood zone, fire zone or hurricane area either.
Most people don't check on what they're paying on their monthly home insurance and property taxes because they have a mortgage but after they make their final mortgage payment while now seeing bank withdrawals every month out of their checking acct, it becomes a serious reality.
The misc should probably be reviewed has must be repeat items at that rate
Some are but not making columns for them. Printer ink, subscriptions, rain runoff, haircut etc.
Good video, Thankyou
Thank you.
Since it's your first full yearly cycle of youtube I'll let you in on a secret. January the monetization goes way down. $800 is still quite high for just making talking videos! Keep it up.
I've been slacking on making videos. Working on bathroom plus this crappy Cleveland weather has me down. We'll see how next month goes.
@BuzzRetirementGarage I'm right there with you in southern Wisconsin. The cold spell finally passed but I've been dragging.
Thanks for the video. What are we going to do for drama once you switch to RUclips TV?
We still have plenty of drama ahead. Pack rat itis.
@@BuzzRetirementGarage Time for a new shed!
@@dancurran8977 new stairs first
Buzz - do you have a video covering your longer term plans? you mentioned living off SS for a little while, so I wondered if you’re doing that as a bridge waiting on a pension to be at the right level for you, or for investments to grow?
Hey Buzz!
Hi. Thanks for stopping by!
BTW - How’s the bathroom coming along? Will there be a video? Thanks
Now that we are retired we went with a limited mileage plan with Allstate for auto insurance. You have to put a tracker in your car to track miles driven, but I don't care if they see I went to the grocery store, etc. They would get bored following me, anyway it saved us a lot of money and we really only shop local and don't travel much so we go less than 1000 miles per month between both cars.
Buzz we don’t have dental insurance. We have Carrington dental discount plan “500” it gives big discounts for dental. We really don’t get much more than cleanings.
I have some crowns that are old. I know I need one replacement. This year paying the premium will probably work out than not having it. We'll see. Buzz
Do you have taxes withheld on your social security, you said that the figures you give are a gross number, just curious. I find we track pretty close to your numbers, we are located in southern ohio
Thanks for Jan. update, looking forward to Feb. numbers although I bet utilities will be higher due to cold weather here in Ohio
We do have 10% taken out of hers. Nothing from mine. We'll see how things go with the tax man .
Happy January Birthday 🥳
I love these videos, they are so helpful!! Do you put everything on credit card, then put everything in a category? Can you elaborate on homestead tax please. This is my husband’s last month of working 😮 I’m a nervous wreck. Also excited!!
Most everything is paid with CC. Some bills I pay from checking account because they charge extra for CC payments. In my county in Ohio we get a 25% reduction if you're over 65 and make less than 35,000. They don't include SS. They deduct from the retail value of house and land. Every state probably does it differently. Good luck my friend! Buzz
White board is easy to read!
what you gonna do for DVR support when you cut the cord?
RUclips TV has unlimited DVR.
@@BuzzRetirementGarage 👴👍
Looking back would you have been better off to have waited a couple years before drawing SS? You could have gotten $300ish more each month on your check by waiting a couple years.
Yes, but my savings couldn't absorb the hit, and I didn't want to work full time any longer.
After doing the math you will never make up what you didn’t get by waiting. Would take eleven years to make the $42.00 more I would get by waiting two months to take SS
@@sunnykindagal I've done the math, and it depends on how long you live. If I live to 80 I will make $14,000 more by drawing at 66 rather than 62. It's not about making the most money though. Like in Buzz's case he would have been better off to have that extra $300 a month by waiting two years to draw it. That would have paid all his bills with some left over. It's not always feasible to do that though, I get that. SS website has a great calculator to see how much you can get for each year you claim.
Not necessarily better off. Numbers look great on paper, but so many variables come into play. I’m sure we all wish we had that crystal ball to tell us what to do. I retired earlier too. Working 4 more full time years was just not worth it, to get the little extra money in the check. Life can unexpectedly change in a day. If a person doesn’t have their health, any amount of $$ means nothing. Everyone’s situation is different. There really isn’t one right answer.
@@karendjohn8803 Agree health is more important than money. We just have to make a choice and hope for the best. I quit working at 57 and will draw SS someday when it makes sense depending on the variables you speak of.
I had to laugh about your comments on the "land line". You are paying $18 to not answer your phone. We got to that exact same point about 10 years ago, we had a ton of features added to our line so we didn't have to answer the phone (answering machine, caller ID, call blocking, etc.). Finally one day I asked my wife if we could just drop the landline and just use our cell phones that had all of those features included. We did and haven't looked back.
Some day I'll convince her. She's so 1980's. Maybe 70's?
What is the reason Mrs Buzz wants a land line that is not a landline but rather internet? Just curious about her reasoning. Enjoy listening to your budget talk.
She still lives in the 1980's.
Wow! Eighteen grand!?!?!?!? That's fantastic.
Will be hard to duplicate.
Do you pay any income taxes at all?
2024 was my first tax year on SS and RUclips income. So I'm not sure how it will play out just yet.
Pet products $232 .How many pets?
Cats and birds.
It's still $1 cheeseburger week at BK through the app
Lol
We won’t see you till February? Yikes.
Yep! Tomorrow!
How can gas for car be so cheap? Do you walk everywhere?
I put $40 a week in my vehicle.
Every store except Sam's and Costco is one mile away. Bank, resteraunts etc. Almost walking distance.
are you going to include the steps as an expense like this? I think it’ll skew your numbers. Like the way you keep youtube income off this, I’d consider keeping this to just your regular income/expenses - ‘infrastructure’ spend like home maintenance that is significant I’d consider capital spend from your savings. Worth recording but not worth blowing your monthly numbers IMO
Good job Buzz, but at the risk or being a pest, that Medicare cost can be reduced to almost zero from $633/mo $7600/yr ; at least research Advantage plans. The knowledge can't hurt.
I understand your position but I have my reasons. May not be good ones but they're mine. Lol
@@BuzzRetirementGarage I respect that, cheers 🙂
I am always aghast at the money you folks pay for medical.
@@kelsikennedy6796 you pay yours in taxes while you're working right?
PROPERTY TAXES. I fully support our schools. However how is it we have bought something that we will never pay off !! Ohio needs to completely revamp the property tax system. We need to find other ways to fund all the items listed on the property tax bill. We we go on social security the tax bill should be cut by 3/4 for retirees. 👍🏻👍🏻👹
You're not wrong but won't happen in my lifetime. Buzz
Why not add your monthly income from RUclips to your budget? Are you saving that $$?
Because I think it will give my mind a pass to spend more!
good thinking :)
Buzz had an investing spam thread in the comments, it's been removed.
Thanks for taking care of that. I usually get two or three on every video. They hit in the early am hours so that tells me they're from another country. Appreciate you looking out.
Do you think that you will have to pay taxes since you rolled over your RUclips videos money from last year to this year?
I deferred much to 2025 which in hindsight was foolish because I'm learning that even though the 1099 only showed $5,000 I technically need to report all 2024 earned income, 1099'd or not, for 2024. Yes, I'll pay taxes.
@@BuzzRetirementGarage Well not much of your social security will be taxable. Unless you had other taxable income in addition to RUclips and social security, your taxable income will be around 19.5K, which is $13K less than the standard deduction. You will have to pay about $2,500 in FICA taxes on the RUclips income unless you are able to deduct quite a lot. So basically no income tax, but a hefty FICA tax bill.
@@BuzzRetirementGarageYes, you must pay tax on income in the year it is earned and available to you, just like interest earned on savings. One might not spend that interest for several years but it has to be reported in the year earned.
New year, new whiteboard! Why do I love this updates so much? I'm such a geek 😂
@@kristentheologus-KTechnogal Same whiteboard just added striping from AutoZone. Should have went with thinner lines. Next year!