Re: How to Save $ in Retirement?

hoosieroriginal · ‎03-04-2012

@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.

@chrystaltree - I'm very happy where I am - things don't mean anything to me - obviously they do to others.

hoosieroriginal · ‎03-04-2012

@AuntG wrote:
@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.

@AuntG - I agree with you - I had a friend die at 58 the year I retired - that made my decision for me - wanted to retire and enjoy life while I'm still around - haven't regretted it -yes I do without a lot - but to me it's so worth it. Many of my friends won't retire until they reach age 70 they say - who says they'll live to 70?

hoosieroriginal · ‎03-04-2012

@chrystaltree - Hey - just for your info - I'm debt free and own my own home - not bad huh for a poor old soul who doesn't have a million dollars in the bank. Now feel sorry for me!

kivah · ‎03-11-2010

If u have an extra room in ur house - rent it out!!!!!!!! I've helped several female friends do that - as I'm very good at finding roomies on-line and I check them out very well. None of them was ever a problem - and I recommend professional male.

proudlyfromNJ · ‎05-01-2010

@software wrote:
@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.

I wish. We only get a senior citizen reduction. I am in NY. Just my SS checks for the year barely cover the school and property taxes for the year. It's terrible.

chrystaltree · ‎05-10-2010

@hoosieroriginal wrote:
@chrystaltree - Hey - just for your info - I'm debt free and own my own home - not bad huh for a poor old soul who doesn't have a million dollars in the bank. Now feel sorry for me!

I'm debt free and own my own home too and I'm 57. But I'll work and and save until I'm at least 68 because when I do retire, I will have a life in which I don't have to think about money. I'll work for that type of security and peace of mind. But, different strokes for different folks. It's all good....

chrystaltree · ‎05-10-2010

@hoosieroriginal wrote:
@AuntG wrote:
@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.

@AuntG - I agree with you - I had a friend die at 58 the year I retired - that made my decision for me - wanted to retire and enjoy life while I'm still around - haven't regretted it -yes I do without a lot - but to me it's so worth it. Many of my friends won't retire until they reach age 70 they say - who says they'll live to 70?

@hoosieroriginal wrote:
@AuntG wrote:
@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.

@AuntG - I agree with you - I had a friend die at 58 the year I retired - that made my decision for me - wanted to retire and enjoy life while I'm still around - haven't regretted it -yes I do without a lot - but to me it's so worth it. Many of my friends won't retire until they reach age 70 they say - who says they'll live to 70?

Actually I hand wash my panties and my bras.

SeaMaiden · ‎03-10-2010

@hoosieroriginal you go girl! You are doing all the wise things. So many people live beyond their means and continue to live that way in retirement. You are the wise one in my book 👍👌

muttmom · ‎11-28-2012

Both of us are retired but I guess we have a different outlook. We worked hard and long, always putting our children's needs first. We educated them and gave them beautiful weddings.

Now it's our turn to enjoy life. We planned and planned and think we have enough to enjoy the rest of our time on this earth. It would be nice if our children inherit something from us but we are not cutting back so this can happen. We go out, eat out, we travel, we often times indulge. Why not?

chrystaltree · ‎05-10-2010

@Tinkrbl44 wrote:
@Azcowgirl wrote:
How do you know if your bank account is " hefty" enough?
@Azcowgirl

Well, if you haven't already done so, which sounds like you haven't, consult with a retirement planning professional and let them take a look at your current financial status, and get their opinion. A few tweaks here and there can make a huge difference.

So true. And sometimes to get the type of retirement you want, the "tweeks" are pretty big ones. That's what happened to us. We're glad we saw a professional so early because if we'd just gone on what we thought we knew....we'd have been in for a shock when retirement was near. Hubby and I walked out dazed because because so much of what he advised were things we never thought about and would never have thought about.