What Percentage of Your Gross Household Income is Spent on Wine?

[AD_Northup]

I took a guess but didn’t go to CT and so the actual math. The real tough part is 2020 was a large increase in purchasing, but I expect that money to get reallocated back to travel/dining out/etc. at some point, so maybe should have answered with a target instead.

Similar thing here. 2020, and so far 2021, went way above normal levels. I was using available funds, that would have gone for other discretionary activities, to purchase additional wines. A lot of that was related to the pandemic support sale that was held here, and wanting to help out wineries that were hit by COVID destroying their restaurant sales, and then later doing what I could for those affected by fire. We could afford it, so it made sense to do it. Wine keeps!

The hard part is definitely going to be pulling back though, changing habits in that direction is much more difficult

[Tom_R_W]

You are missing some categories:

A higher percentage than I can afford
A higher percentage than any rational person would spend
A higher percentage than my spouse/partner/significant other knows

Yes, not sure which figure to use. Actual or # I tell my wife?
Additionally, I prefer to keep track in dollars not percentage. That way I can report spending per month but act like that’s the total for the whole year.

[Brian_Tuite]

I am retired. What is my annual income?

Check your Form 1040 Line 15

[Victor_Hong]

If almost one third of respondents spend 3% or less of gross income on wine, either they are cheap, rich, …

It is amazing how obsessed you are with how much money people on this board have or don’t have. You cannot go a week without discussing it. I recommend that you seek out professional help. You have a very severe problem.

Shutting down cramped, tiny noodle shops during the pandemic has caused financial problems in the Chinese community. Such sympathy is appreciated.

By such logic, should people posting about wine at least weekly be considered to have an alcoholism problem, perhaps severe enough for professional help? If so, thoughts and prayers…

[Howard_Cooper]

I am retired. What is my annual income?

Check your Form 1040 Line 15

I am not sure what is more surprising in this thread - the number of people who don’t understand the difference between economic income and what shows up on a tax return or the number of people who show off their ignorance so proudly. Are you also refusing to get a vaccination?

[Victor_Hong]

I am retired. What is my annual income?

Check your Form 1040 Line 15

I am not sure what is more surprising in this thread - the number of people who don’t understand the difference between economic income and what shows up on a tax return or the number of people who show off their ignorance so proudly. Are you also refusing to get a vaccination?

Where would readers read the specification of economic income versus reported or taxable income? I squint at your posts, in search, but cannot find there. Perhaps, I need to hire a tax lawyer, for advice, if you know any.
My ignorance is public-domain information. A qualified tax lawyer can find on PACER.gov (Second Circuit #19-3886, #21-529).

[Tom_R_W]

If you don’t have a budget you’ll never hit it! That said, it’s great getting all my BD shipments recently. It’s like the thrill of the purchase all over again opening up boxes of things I forgot I bought.

Our family is in the lowest bracket listed. Two kids, a mortgage, daycare, and a classic car hobby eat into my ability to rationalize anything more.

TW

It’s funny, I think our budget is very reasonable right now, buy I’ve agreed to cut it in half after next year when we expect to start having kids. I thought wine was expensive…

Oh, you have no idea! (and mine aren’t in college yet)

[Hal_Blumberg]

95%. The other 5% is spent on French fries.

[Mark_Y]

Check your Form 1040 Line 15

I am not sure what is more surprising in this thread - the number of people who don’t understand the difference between economic income and what shows up on a tax return or the number of people who show off their ignorance so proudly. Are you also refusing to get a vaccination?

Where would readers read the specification of economic income versus reported or taxable income? I squint at your posts, in search, but cannot find there.

I’m sure there is a blind link behind a paywall that Howard is itching to post!!

[Ben_M_a_n_d_l_e_r]

I was genuinely surprised at the number of responses above the lowest answer (1-3%). A lot of people in this board must have a lot of disposable income. I did know that there are some rich people who spend a lot of time on this board but I also thought they made up a smaller proportion of the community than appears to be the case.

My spouse and I take 5% of our gross income and divide it evenly into personal accounts of ours for independent spending on whatever we please. After tax, most of the remaining 95% goes toward a pretty frugal cost of living for a child-free couple living in a small 2-bedroom house in Northern California. I’ll confess that an embarrassingly large proportion of my 2.5% goes toward wine, but still, the idea of being able to spend 10% of your income on wine is totally foreign to me.

[Paul_abbott]

95%. The other 5% is spent on French fries.

French wines I assume, just for consistency.

[Victor_Hong]

I am not sure what is more surprising in this thread - the number of people who don’t understand the difference between economic income and what shows up on a tax return or the number of people who show off their ignorance so proudly. Are you also refusing to get a vaccination?

Where would readers read the specification of economic income versus reported or taxable income? I squint at your posts, in search, but cannot find there.

I’m sure there is a blind link behind a paywall that Howard is itching to post!!

If my tax lawyer justified my tax liabilities per economic income, rather than accrued, cash, or reported income, then retirement would be a good idea.

Indeed, economic income would need to include the imputed rental services of an owned home, and be subject to reporting and taxation.

[Alex_Valdes]

I was genuinely surprised at the number of responses above the lowest answer (1-3%). A lot of people in this board must have a lot of disposable income. I did know that there are some rich people who spend a lot of time on this board but I also thought they made up a smaller proportion of the community than appears to be the case.

My spouse and I take 5% of our gross income and divide it evenly into personal accounts of ours for independent spending on whatever we please. After tax, most of the remaining 95% goes toward a pretty frugal cost of living for a child-free couple living in a small 2-bedroom house in Northern California. I’ll confess that an embarrassingly large proportion of my 2.5% goes toward wine, but still, the idea of being able to spend 10% of your income on wine is totally foreign to me.

You could read it as a lot of disposable income or you could read it as A) a healthy amount of disposable income plus a heavy prioritization of wine or B) not that much disposable income (making $1M a year and spending 10% on wine is A vs $5M a year and spending 2% is B).

[Victor_Hong]

Everybody in the higher-percentage responses must reflect late-bidding price appreciation on Winebid.

[Victor_Hong]

…

It is amazing how obsessed you are with how much money people on this board have or don’t have. You cannot go a week without discussing it. I recommend that you seek out professional help. You have a very severe problem.

The principle would imply what about tax lawyers, who indeed write, talk, and research several times weekly on that subject? (That is in addition to posting on threads about retirement planning.)

[Tom_R_W]

Similar to others, 2020 was a budget busting wine year for me. I’ve got a spending cap for discretionary hobby items (wine and a few others).
I started the year innocuously by picking up a few more 2016 Californias that I liked based on the superb vintage; then overbought 2018 Californians based on reviews; then bought more wine in general, because Covid; then bought previously/usually unavailable funky bottlings from wineries that usually were sold exclusively into restaurants or tasting rooms which weren’t open; then bought more Napas after the fires destroyed some Vineyards’ future vintages and dimmed their prospects. I think the only reason I stopped spending in 2020 is because the year ended.

I think 2021 will be much better. Let’s see… In Feb, I joined Wine Beserkers which introduced me to some new wineries. In addition to my regular purchases, I’ve added: Beau Rivage, Dirty & Rowdy, Detert Family, Sky Vineyards, Immortal Estates, Enfield Estates, Once and Future, I think I’m forgetting some. HOLY $#it, we’re not out of April yet!? I’m so F$#ked.

[Victor_Hong]

I spent well below $2000 in 2020 on wine, involving under 60 bottles. Transparency is good.

[Hal_Blumberg]

95%. The other 5% is spent on French fries.

French wines I assume, just for consistency.

I drink zinfandel with Freedom Fries.

[David_Baum]

Wait retired wine collectors still buy wine? I’m at least 10 years away and already have more than I could ever drink. I suspect I’ll buy more in my later years but nowhere near the over indulgences of the last decade

[HenryB]

as a ‘high bucket’ clicker, I’m at an age where I’m building a cellar still. dded something like 150-200 bottles last year, 9 bottles representing someting like ~50% of my spend.

2019 also felt like a great vintage to go big on - future years wont have the same level of spend