Re: How to Save $ in Retirement?

depglass · ‎03-10-2010

Switch from your exclusive coffee shop to McDonald's. 1.75 minimum for small plain coffee in our town at ritzy place, .80 for senior coffee at McDonald's. And their coffee is better, IMHO. McDonalds is currently running a 1.00 promotion on all sizes with stickers on the side. 5 of them gets you a fancy coffee for free.

missy1 · ‎03-10-2010

@catwhisperer wrote:
@SurferWife....DH and I were doing great until a couple unforseen medical issues happened and threw us for a loop.

Even those people think they are good to go, things can change in a blink of an eye.

My relatives scrimped for a long time and built a nice egg. My relative passed within a few months of being healthy. The couple did not get to enjoy the fruits of their labor. It is very sad. This person were just under 60 and going to retire. rip

deeva · ‎03-09-2010

I haven't really changed my shopping habits other than to stop buying clothes just because I find a cute outfit.

No longer go to stores looking for stuff to buy. When I do buy, I still go for quality.

I happen to live in a city with lots of major grocery stores. So with all of the competition, they offer a 10% senior discount the first Wednesday of each month for most items except for things like booze, tobacco and scripts.

We never ate out a lot when working, we eat maybe foru times a month.

But we also planned our retirement early in life and knew how much money we needed to save for our lifestyle.

wonderfulworld · ‎12-05-2012

If you are in good health you might consider obtaining Long Term Health Insurance.

That and being debt free were high on the list of our financial advisers list of 'to do's'.

AuntG · ‎03-09-2010

@hoosieroriginal, your tips are totally smart and practical. I just don't understand why Chrystaltree added such a nasty comment. While you are doing your own yard work, Chrystaltree is sending her panties to the laundry (yes, she has written about her professional laundry service). I'd rather give up her silly perks and retire at a reasonable age.

buyornot · ‎03-10-2010

@Mj12 wrote:
@buyornot I have no advice, I have a while to go. Just wanted to say CONGRATULATIONS!! Enjoy it!!

How nice-thank you!

Blingqueen023 · ‎03-09-2010

@chrystaltree wrote:
@hoosieroriginal wrote:
I live just on my SS and don't touch my retirement money - it is for emergencies only - here are my tips:

1. Quit shopping Q - get control of your spending habits - ask yourself - do I want it or do I need it?

2. If you don't already - get your checks free from your bank - just learned this from someone here on forum - if you are a senior you should be able to get your checks for free - I was paying $30 every other month.

3. I shop Aldi's for my groceries - saves me at least 1/2 of what I was paying at Marsh or Kroger.

4. Got rid of cable TV - watch everything I want on my computer - saved me $68 a month!

5. Got rid of my newspaper - I really don't want to know what's going on in the news anymore - it's depressing!

6. I do all my yard work myself - I'm fit enough to mow - most people around me pay to have their lawns done - you get exercise and save money.

7. Any money I have at the end of the month goes into savings for emergencies.

I buy myself a couple little items a month to make me happy, but don't go on shopping sprees at all. I have lunch a couple times a month with friends. My neighbor has had to go back to work already and she retired when I did three years ago. She was having to dip into her retirement account already (and she has SS and a pension - double what I make).

Honestly, if I had to scale my life back like that, I'd just keep working until I could have a better retirement.

I can't agree more. Chrystaltree is nothing more than a financial prisoner. If I had to live like that I'd jump off a bridge. I work part time and collect a federal pension. If my health holds up and it has inspite of a lymphoma I just recently got rid of, I will continue to work.

Mj12 · ‎03-09-2010

@chrystaltree wrote:
@hoosieroriginal wrote:
I live just on my SS and don't touch my retirement money - it is for emergencies only - here are my tips:

1. Quit shopping Q - get control of your spending habits - ask yourself - do I want it or do I need it?

2. If you don't already - get your checks free from your bank - just learned this from someone here on forum - if you are a senior you should be able to get your checks for free - I was paying $30 every other month.

3. I shop Aldi's for my groceries - saves me at least 1/2 of what I was paying at Marsh or Kroger.

4. Got rid of cable TV - watch everything I want on my computer - saved me $68 a month!

5. Got rid of my newspaper - I really don't want to know what's going on in the news anymore - it's depressing!

6. I do all my yard work myself - I'm fit enough to mow - most people around me pay to have their lawns done - you get exercise and save money.

7. Any money I have at the end of the month goes into savings for emergencies.

I buy myself a couple little items a month to make me happy, but don't go on shopping sprees at all. I have lunch a couple times a month with friends. My neighbor has had to go back to work already and she retired when I did three years ago. She was having to dip into her retirement account already (and she has SS and a pension - double what I make).

Honestly, if I had to scale my life back like that, I'd just keep working until I could have a better retirement.

I don't think anything she mentioned is scaled back that severely. She is physically able so she does her own yard work. Good for her. I do not because we don't have the time - wish we did. What's wrong with free checks for seniors if her bank offers it? Things like that are just smart IMO. She still buys herself some things, has lunch with friends, etc.

Mj12 · ‎03-09-2010

I'll just add - my parents worked and worked (and worked some more) to have a fabulous retirement. Both died rather young, unexpectedly, didn't get to enjoy their hard work or any retirement. Go enjoy it!

software · ‎06-08-2016

@buyornot wrote:
As someone with 6 days of work left, I'd LOVE to know any tips that people have found to save money in retirement time. Taxes,utilities,food,anything that you've found useful?

I posted earlier today but I forgot the 1 big thing I wanted to mention.

In Alabama, when someone turns 65, they no longer have to pay property tax on their residence, it's call the Homestead Exemption.

See if that applies where you live.