Tricks for a "free" retirement? (single, family, best)
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Does the person with the biggest bank account when pronounced dead win a prize?
They win the "biggest financial legacy" award. The OP has already explained that he wants to leave as much money as possible for his grandkids' future education, so he wants to find ways to save money while still enjoying his preferred retirement activities. It makes sense to me.
I don't want to have the BIGGEST bank account when I'm dead, but I do want enough for an education trust.
I'm an entrepreneur at heart, so their education money can be for anything that's "learning".
I digress...
I want to know these answers because I love "gaming" the system, and playing the regulator's games against them.
Catch my drift?
Kurt
Given the above statement, unless you have something holding you in MD, there are other areas with lower total tax bite, and IMHO a more amenable climate. You said you liked to golf, some places around Augusta, GA, both in GA and in SC, would provide year-round golfing as well as a lower tax bill. In my experience, not that much hotter in summer compared to MD.
Hi. Not new here, been stalking for a few months. Just made an account. My first thread post here.
I am newly retired, and am very frugal.
I have money in the bank, retirements, metals, and so forth.
But I am frugal, and try and save money (or make money) wherever I can.
With that said, do any of you folks here have great frugal tricks?
For example: I know that with some hotels, you can get a free stay whenever you book X nights.
Or which charge cards give you the best airline miles.
Just curious to see what you guys know?
Thank you,
Kurt
Other posters have pointed you to the CD Frugal Living subforum, which is a good resource. If you like saving money but are looking for beyond the envelope ideas while doing so, I recommend you look through the blog Mr. Money Mustache — Early Retirement through Badassity
Perhaps an easy way to be frugal is to do a part time gig.
That's what I'm doing.
If you can make $100 per hour, doing an enjoyable job for a few hours per week will net one heck of a lot more money than a frugal habit such as re-using ziplocks.
If you golf a lot and don't have a membership to a local course, you might want to look into that. For several years in the early 2000's, we had a membership for unlimited golf with cart at a local course for about $1,000 yearly for two golfers. It wasn't the most highly-manicured course but it wasn't a cow pasture either. No fancy clubhouse and trust me, you don't want to have to use the porta potties on the course. However, it is very old Florida with natural beauty, few houses, and lacking in all pretension. At times, wild cranes would be aerating the greens as you approached, which sounds better than saying they were tearing them up. As you've probably guessed, this is my all-time favorite course although most would say it doesn't hold a candle to the finer and expensive courses where the fairways are lush, the greens are perfect, and the sand is always soft. I know I've rambled on, but I guess my point is that sometimes things that aren't considered the best or the most expensive are a heck of a lot more fun.
As for travel, always check the discounts. I travel with my mother a lot, and we make good use of her senior status. She's a big fan of the Hampton Inn chain which gives her 10% off rooms. If you're lucky like me and have a mother who is loaded, you can let her pay for the room.
There are discounts everywhere for many different places. Seniors and military have the most available. Even stores like T.J.Maxx (on Mondays) and Ross (on Tuesdays) have 10% senior discounts. I know people who won't ask for available discounts because they feel it makes them look cheap, but it does really add up. Military discounts (10%) come in handy at Home Depot and Lowes.
Since you're frugal already, you know that frugal does not always mean cheap. Frugal is getting the best price for things. Frugal is putting the majority of your money toward those things most important to you.
Many resort/tourist areas have a "locals" card, or just discounts for locals for things like golf and activities/amenities. I know in Lake Tahoe locals can get cheaper golf prices, and there are "locals discount" cards in many cities. You just have to ask about discounts. Myrtle Beach has something like a hundred golf courses and I'm sure the have locals discounts. Also you can use on line booking companies for last minute discounts. Check under golfnow.com and teeoff.com. You can often book next day or even same day tee times at up to 50% off the regular rate.
In some states (like TN), if you are a veteran you can show your DD-214 or your military or retired military ID at the DMV and have your veteran status printed on your driver's license. It makes it easier to get a veteran discount. I always ask about senior or vet discounts, and then about AARP or AAA discounts. I can almost always get 10-15% off of any attraction or even at some restaurants and hotels. Sometimes other vets who own businesses will just give you a discount because they like vets even if they don't have an official one.
As for travel, always check the discounts. I travel with my mother a lot, and we make good use of her senior status. She's a big fan of the Hampton Inn chain which gives her 10% off rooms.
Hampton Inn is part of the Hilton hotel family. If your mother hasn't joined the Hilton Honors program, tell her she should. Then she'll earn points with every stay, which eventually add up enough to get a free night. (Toss a Hilton credit card in the mix and she'll earn points even faster, plus gain some low-level status with Hilton.)
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