Retirement - looking for savings ideas

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Other than the big things, mentioned, there's little things. -- Antique plates, and insurance, for Your Barracuda -- Minimize club memberships, none is ideal -- News via online, only, no newspaper -- Look for best cell phone plans, if You have one -- Cell phone, only, no land line -- Natural gas heat, if available. It will take a while, for pay back -- Minimize, extra vehicles -- Shop all insurances -- Shop computer services -- Minimize eating out -- Pay credit cards, up to date, to avoid interest -- Turn heat down, at night -- Led lights -- Shop gas prices, if possible -- avoid unnecessary trips. -- I'm sure that there's lots of others, just take inventory. Believe it, or not You can save considerable dollars, and hardly notice it
 
^Use generic for prescriptions, wife was taking Claritin which has a ridiculous price of around a buck a tab, generic loratadine is cheap like 10 cents or less per tab.
Put up a good roof antenna and stream the rest.
During my college days I'd buy a huge bag each of rice and beans. You could get the 50 lb bags easily back then. Dirt cheap and good for you.
 
I still say, the more you make the more you will find a reason to spend!!
Buy a chest freezer, find a country slaughter house/butcher. Buy a whole hog and a quarter of beef. Check with the HS vo ag teacher, he can guide you.
 
Just make sure you don't outlive your money. I know it sounds harsh but if you talk to some who have it aint no fun.
 
My credit card isn't a credit card, its a debit card tied into my checking account. No fees, no interest just a minimum balance to maintain. Plus you're gonna pay it anyhow and it keeps track of any charges against your account for you.
 
Can't emphasize a monthly/weekly budget enough.

Know exactly where your money is going and when, and where it is coming from and when.

That way you can know exactly how much you can set aside and how much you can spend in a discretionary manner.

If there are any, ways to trim back will also show up there.


I have been living comfortably below my means for many years so that I may continue to live at least that lifestyle in retirement.

I plan to retire in about 5 years at age 58.
 
DodgeLad said:
Mr. Reagan championed reverse mortgages. And Tom Selleck pitches them. Two of my favorite people that ever lived. That's a good start. I guess I don't understand the age requirements.

The only cons I can see is that after you are gone and they sell your property, your heirs have no say in the matter. And the loaner is not motivated to get your heirs max return, only to get what is coming to them. Also I was wondering how moving out works exactly and if you have any options or is the procedure fixed.

Happy retirement :)
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Actually your heirs do have options. There is a period of time in which they can pay off the reverse mortgage and keep the house, or sell the house and pay off the rev mortgage before the mortgage holder sells it off. if one of the reverse mortgage holders is still living in the house then they can arrange a sale and pay off the mortgage, take the equity and move. There is a limit on the amount of time that none of the mortgage holders do not use the house as their residence. But like I said it should all be discussed wih a professional who has only your interest in mind (called a fiduciary).

All that said, having retired I would never look back and have no regrets. IMHO the idea should be to spend every last dime the day before you die. I too have a retirement restoration - a 1970 Dart GT It sat and waited for me for 9 years!
 
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