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On the issue of trying to live frugally or finding cheaper ways to stretch a dollar during retirement, I think this is very much tied to the retirement forum, as much as ways to invest and manage your "stash" is in retirement is. It is doing what the other half must do (or even like to do) to make it through their retirement years and still be able to provide for themselves.
When people come on here who have not amassed a "comfortable" living for their retirement years, they are looking for posts they can relate to and to see how other people are managing despite their shortfall. We could just as well say that all the advise pertaining to financial planning for retirement belongs on the financial boards. (and mathjak would be out of a job)
The famous book, "The millionaire next door", teaches us to live below our means as a means to save money for retirement years. The same principal applies to people trying to make it in retirement on less money. So if this subject matter must be delegated only to the "Frugal" forum, then all talk of financial planning and structuring of your funds for your retirement years, belongs on the Financial" forum as well.
Yes, even if you have a substantial amount of $$ going into retirement, it doesn't mean you want to "blow it" when you don't have to purchase at "retail" costs . . . most of us love a bargain.
Some of the wealthiest folks I know look for ways to living well on less money.
I am looking for a stacked washer/dryer for our mountain house. Sure, I could go out and buy one today and be done with it. However, the units I have are working fine (it would just free up a lot of room to have stacking units). One of my friends said - why don't you just go ahead and get a new unit? My answer is - why go ahead when the ones I have work fine? And - I know that eventually, on craigslist (probably) someone will have a nice unit or I will find the stackables at a "dent and scratch" sale or warehouse.
I think too often we have a mindset of immediate gratification and that can cost us money in the longrun.
Some of the wealthiest folks I know look for ways to living well on less money.
The wealthiest man I personally know (old, old family wealth) has a small 1950s refrigerator in his small condo. I love that thing, and it still runs, even though it's not "energy star." He drives a beater.
If you want to live abundantly, invest in your relationships with other people. Have friends over for a night of cards, join a walking club, volunteer someplace in your community. You can have an abundant life with limited means.
Another saving area which is more of interest to the senior/retiree set than the general population is prescription drugs. I did not check into this area until the prices of our prescriptions shot up after our health insurance service got switched from Medco to CVS Caremark.
I was astonished to find that I could get some medications cheaper through Walmart/Target/etc. $4 prescription program than through our insurance program.
Unfortunately some of the medications such as my husband's blood pressure pills were not listed in these $4 prescription list. I searched several websites, apps
and found that it was much cheaper to get the med through CVS Health Saving Pass program than through CVS Caremark (with insurance discount!)
Further digging into the prescription cost, I discovered the reason my husband's medication was not on the $4 generic drug list because it was a combination drug: Benazepril/HCTZ 20-12.5mg. The combined pill just makes it convenient (pop one pill instead of two) and offers no added benefit at a significantly higher cost. So instead of getting the combined pill for $50/month, we could buy Benazepril (generic version of Lotensin) and Hydrochlorothiazide (or water reduction pill) for $4 each at Walmart. We went back to the doctor to ask for the new prescriptions. Lo and behold, the cost of these two prescription through the insurance program dropped lower than Walmart price at 25x lower than the cost of the combined drug!
Excellent info! And we have found the same thing!
My husband's drug costs (after insurance) are over $500 a month and at times, have been over $700 a month. And that is with figuring out every possible way to cut costs.
We found that it was cheaper to get a "larger" pill for one of his dosages, and cut it in half. Why there was such a price break on the larger pill is hard to figure out!
If you want to live abundantly, invest in your relationships with other people. Have friends over for a night of cards, join a walking club, volunteer someplace in your community. You can have an abundant life with limited means.
Totally agree.
One must be a bit creative, perhaps, but there are always good times to be had with good friends.
The wealthiest man I personally know (old, old family wealth) has a small 1950s refrigerator in his small condo. I love that thing, and it still runs, even though it's not "energy star." He drives a beater.
Love it!
Why get rid of it if it still works and serves the purpose? That fridge is probably made soooo much better than today's models!!!
Hair coloring...ugh... thousands of dollars spent, thousands of hours wasted in a salon chair. Even done at home it never looks like a salon job or really good coverage. And then if you over dye the already colored strands, like from the new gray growth down it gets way over processed and looks darker than the top. Never again.
One good breeze and you and everyone else can see all the spots you missed.
I stay away from anything with the slightest red, and "underplay" the color. I have some little artistic tricks to make it look natural (I leave a little telltale grey in certain spots). Of course everyone knows that anyone my age is coloring her hair. Point is, if you're going to do it, there are frugal ways of doing it nicely. Maybe you were using mass market coloring? Looks horrible. Check out the semi-permanent and permanent colors in places like Whole Foods. Or maybe you just like going grey, which is fine (but not on me).
I agree, it is something that a lot of people practice throughout their lives. It really isn't specific to a certain generation... even Gen x's need cheap meds, cheap clothes etc.
Yes, many people do this throughout their lives.
I certainly have.
And I have taught my sons how to live well and cut costs.
However, something happens in retirement. Folks often go into retirement with a lot of concern about their cash flow. It is easy to constrict ones choices and "hunker down" and miss out on life if you stay worried all the time about spending money.
Things can be very different for retirees, as they do have more time than 40-somethings raising a family and working full time.
That means retired people often have more time to devote to such things as gardening or for perusing local flea markets, thrift stores, and sales at department stores that offer additional dollars off for Seniors on particular days.
If none of this applies to your life, I guess it is a good thing that there are plenty of other threads where you can actually share (or receive) info that works in your life.
I stay away from anything with the slightest red, and "underplay" the color. I have some little artistic tricks to make it look natural (I leave a little telltale grey in certain spots). Of course everyone knows that anyone my age is coloring her hair. Point is, if you're going to do it, there are frugal ways of doing it nicely. Maybe you were using mass market coloring? Looks horrible. Check out the semi-permanent and permanent colors in places like Whole Foods. Or maybe you just like going grey, which is fine (but not on me).
I do so appreciate your mentioning the Whole Foods products, NEGirl. I am definitely going to check it out!
My husband told me before we were even married that he was soooo glad I chose to color my hair, since it is prematurely gray/white. He said it would depress him to look at his wife and see gray hair. I totally got that. It would have depressed me, too. Not everyone feels this way!
My mother used to make fun and mock anyone who colored her hair. I always found that strange. Why on earth should it matter to anyone else (other than perhaps - one's spouse) what beauty regimen we choose?
Going to check out the products you mentioned next time I head out to WF.
10 cucumbers
3 zucchinis
3 yellow squash
A flat of tomatoes
10# of green beans
A flat of golden delicious apples
3 - 1# bad of potato chips (?)
Most of the produce is surplus from the warehouses in Rio Rico, AZ where a significant portion of the imported Mexican produce is shipped through.
I did not buy yesterday as I will not be around this week. In the future, I will take it all and distribute it among the neighbors and the food bank.
Wow - what a bounty!
You are so smart for taking advantage of surplus goods. I only wish there were some place here that I could do that same thing!
That is so kind of you to share with others. Spreading the bounty is what abundant living is about!
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