Danielle's Meal Planning Experiment v0.1 - Track a Typical Day
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Food Cost per DayAnnualizedMinimum post-tax income to support this spend (at rate of 11% budget on food)According to the US Department of Agriculture, Americans spend 11% of their post tax income on food (6% on groceries, 5% on eating out)
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Per Day Cost from Eat @ Home Scenario (see the yellow tab for details)$10.52$3,838.67$34,896.97
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My Actual Per Day Food Cost in Colorado - July 2019 (from my private personal finance spreadsheet)$31.61$11,537.65$104,887.73
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Per Day Cost from my old SF Lifestyle Scenario (see the orange tab for details)$95.30$34,784.50$316,222.73
No wonder I was broke and constantly in debt in SF!
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Making a scenario for @karanbhangui who is doing meal prep for $2/meal and used to have my SF budget (roughly $25/meal + tax and tip) ---> scroll right to see the chart$6.00$2,190.00$19,909.09
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Going from SF Lifestyle to Denver Lifestyle
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Savings per day$63.69
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Savings per month$1,937.24
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Savings per year$23,246.85
That's 2 more $10K angel investment checks!!
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Scenario: Assume savings are invested at the end of each year, compounding at 7% annually
Why use 7%? I'm taking the average rate of return for the S&P 500 (10%) less the average rate of inflation (3%). In this model, I'm assuming the savings go into an index fund.
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New Savings7% return on previous year's cumulative balanceCumulative Balance EOYNew Savings7% return on previous year's cumulative balanceCumulative Balance EOYNew Savings7% return on previous year's cumulative balanceCumulative Balance EOY
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2019$23,246.85$23,246.852019$30,945.83$30,945.832019$32,594.50$32,594.50
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2020$23,246.85$1,627.28$48,120.982020$30,945.83$2,166.21$64,057.872020$32,594.50$2,281.62$67,470.62
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2021$23,246.85$3,368.47$74,736.302021$30,945.83$4,484.05$99,487.762021$32,594.50$4,722.94$104,788.06
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2022$23,246.85$5,231.54$103,214.692022$30,945.83$6,964.14$137,397.732022$32,594.50$7,335.16$144,717.72
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2023$23,246.85$7,225.03$133,686.572023$30,945.83$9,617.84$177,961.412023$32,594.50$10,130.24$187,442.46
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2024$23,246.85$9,358.06$166,291.482024$30,945.83$12,457.30$221,364.542024$32,594.50$13,120.97$233,157.94
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2025$23,246.85$11,640.40$201,178.732025$30,945.83$15,495.52$267,805.892025$32,594.50$16,321.06$282,073.49
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2026$23,246.85$14,082.51$238,508.092026$30,945.83$18,746.41$317,498.142026$32,594.50$19,745.14$334,413.13
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2027$23,246.85$16,695.57$278,450.512027$30,945.83$22,224.87$370,668.842027$32,594.50$23,408.92$390,416.55
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2028$23,246.85$19,491.54$321,188.89With this lifestyle change, over the next 10 years I will save 232469. Additional, assuming an annual rate of return of 7% on the invested savings I will also earn an additional 88720 by reinvesting these savings. This will generate a net gain of 321189 over a 10 year period.btw I'll be 44 here, not exact retirement age... so let's keep going!2028$30,945.83$25,946.82$427,561.492028$32,594.50$27,329.16$450,340.21
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2029$23,246.85$22,483.22$366,918.972029$30,945.83$29,929.30$488,436.632029$32,594.50$31,523.81$514,458.53
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2030$23,246.85$25,684.33$415,850.142030$30,945.83$34,190.56$553,573.032030$32,594.50$36,012.10$583,065.12
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2031$23,246.85$29,109.51$468,206.502031$30,945.83$38,750.11$623,268.972031$32,594.50$40,814.56$656,474.18
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2032$23,246.85$32,774.46$524,227.812032$30,945.83$43,628.83$697,843.632032$32,594.50$45,953.19$735,021.88
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2033$23,246.85$36,695.95$584,170.612033$30,945.83$48,849.05$777,638.522033$32,594.50$51,451.53$819,067.91
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2034$23,246.85$40,891.94$648,309.402034$30,945.83$54,434.70$863,019.052034$32,594.50$57,334.75$908,997.16
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2035$23,246.85$45,381.66$716,937.912035$30,945.83$60,411.33$954,376.222035$32,594.50$63,629.80$1,005,221.46
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2036$23,246.85$50,185.65$790,370.412036$30,945.83$66,806.34$1,052,128.382036$32,594.50$70,365.50$1,108,181.47
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2037$23,246.85$55,325.93$868,943.192037$30,945.83$73,648.99$1,156,723.202037$32,594.50$77,572.70$1,218,348.67
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2038$23,246.85$60,826.02$953,016.062038$30,945.83$80,970.62$1,268,639.662038$32,594.50$85,284.41$1,336,227.57
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2039$23,246.85$66,711.12$1,042,974.03A million dollars in year 21 -- and I'll be 55, so this has plenty of time to keep compounding even if start drink $100 bottles of champagne for lunch every day.2039$30,945.83$88,804.78$1,388,390.272039$32,594.50$93,535.93$1,462,358.00
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20400$73,008.18$1,115,982.2220400$97,187.32$1,485,577.592040$32,594.50$102,365.06$1,597,317.57
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20410$78,118.76$1,194,100.9720410$103,990.43$1,589,568.022041$32,594.50$111,812.23$1,741,724.29
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20420$83,587.07$1,277,688.0420420$111,269.76$1,700,837.782042$32,594.50$121,920.70$1,896,239.50
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20430$89,438.16$1,367,126.2020430$119,058.64$1,819,896.432043$32,594.50$132,736.76$2,061,570.76
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20440$95,698.83$1,462,825.0420440$127,392.75$1,947,289.182044$32,594.50$144,309.95$2,238,475.21
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20450$102,397.75$1,565,222.7920450$136,310.24$2,083,599.422045$32,594.50$156,693.26$2,427,762.98
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20460$109,565.60$1,674,788.3920460$145,851.96$2,229,451.382046$32,594.50$169,943.41$2,630,300.89
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20470$117,235.19$1,792,023.5720470$156,061.60$2,385,512.982047$32,594.50$184,121.06$2,847,016.45
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20480$125,441.65$1,917,465.2220480$166,985.91$2,552,498.882048$32,594.50$199,291.15$3,078,902.10
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20490$134,222.57$2,051,687.7920490$178,674.92$2,731,173.812049$32,594.50$215,523.15$3,327,019.75
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20500$143,618.15$2,195,305.9320500$191,182.17$2,922,355.972050$32,594.50$232,891.38$3,592,505.63
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20510$153,671.42$2,348,977.35This is age 67 for me, currently the official retirement age. I've let it keep compounding, but in this scenerio I'm back to living my SF lifestyle from age 55 to 67 and there are no additional savings. Just to show how wonderful compounding is.20510$204,564.92$3,126,920.892051$32,594.50$251,475.39$3,876,575.52
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But wait... what if I actually went for it and did the $10/day challenge and stuck to it. What would those numbers look like then? ------>
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