As I gal in her late fifties, there are quite a few adjectives I might use to describe myself-middle aged, baby boomer, early retiree, young widow. I'm sure that there are others. One word I would not use to describe myself is "senior". Not that I have a problem with the description, it's just not a category I would put myself into.
The fact is though, lots of other people consider me a senior. Actually, it's surprising how many folks think that way, especially in light of the advanced life expectancy in the US. Kroger, considers my a senior citizen at 55 and as such, gives me ten percent off every Kroger product. The gal who cuts my hair (short, spiked and silver) hems and haws-she wants to offer me the senior discount but doesn't want me to be afraid. AARP wants, in fact regularly begs for my membership (I must get more junk mail from them than any other source).
I suppose I COULD get offended by all of this. I mean, good heavens! I'm not old, I'm in the height of middle age. I'm still healthy, active and involved. but instead of being offended, I welcome the offers.
Why does all this not bother me? Well........the bottom line is that I'm happy for the most part with who and where I am. I'm fifty something, going on sixty soon. Although I'm a bit overweight, I have an active lifestyle. I work out every day, I've returned to college, I take spur of the moment trips and adventures. I also have white hair, grown children, skin that while overall good still shows the years of outdoor living. In other words. I don't look twenty. Heck, I don't even look thirty. No one will ever mistake me for my daughter, and I'm not sure I would want them to (although she looks uncannily like I did at her age). In other words, I'm comfortable in my own skin, and labels are just that.
So when the lady asks if I qualify for the senior discount at the hair studio, I smile and ask her what her age requirement is. I happily show the nice young man at Kroger my driver's license so he can enter my birthday into their information system. I take advantage of the senior day at the movies, and the ten percent off at the thrift store.
I definitely don't consider myself a senior citizen yet. But if others are willing to offer me the advantages of that label, I'll take them and smile. And when I do get to senior citizen status-that will be fine too!
Showing posts with label retirement. Show all posts
Showing posts with label retirement. Show all posts
Saturday, August 6, 2011
Tuesday, August 2, 2011
Fixed Income Living: Cost vs Reward
This past Sunday, my 22 year old and I went to the movies. We opted to see "Cowboy's and Aliens". It was a spur of the minute decision go to out to the theater, with the 103 temperature being the primary catalyst. Poor planning and the heat had eliminated many if not most of our normal Sunday pursuits.
As a person on a fixed income, my goal in general to avoid spending money unless I get a large reward in return. The Tightwad Gazette refers to this as the wow factor. I'm sure every one's wow factors differ.
Now, 24 hours after seeing the above mentioned movie, it was a perfect example of way to little entertainment value for way too much money. While the movie was enjoyable, the cost for that movie in terms of value was off the charts. In other words, at almost thirty dollars for less than two hours of entertainment, and snacks, the return on investment was very low.
Now, some might say that this was a one time event, and to relax and enjoy the film, rather than obsess over the cost. That's just what we did at the time, and as I mentioned earlier, the movie was nice, while not exceptional (in my humble opinion). But that same thirty dollars could have gotten me many nights of movie and high grade snacks on my comfy couch at home. Even if you only figure three movies and attendant snacks, I doubt that the movie experience was worth three times the cost. A little planning while I was on vacation would have given me netflix movies and a well stocked fridge.
Everyone has different wows and needs. The important thing is to acknowledge them. In my case I am absolutely unwilling to spend money on weekly dining out at places like the Outback or Macaroni Grill. On the other hand once or twice a year I am willing to spend a large amount at the best restaurant in town. Not only will I get big value for big money, but the memory will last me for awhile. I certainly have my own entertainment needs and desires. I've recently seen the revival of Guys and Dolls, as well as the final Harry Potter in 3D (a movie meant to be seen in a really, really big theater).
Most of the time I have a good handle on what is worth (for me) to spending money on and what is not. Like everyone else, sometimes life gets in the way. When that happens (just like this weekend) I enjoy myself, and then remind myself that next time I'll be much more content with a visit to red box, my gourmet popcorn seasonings, wine and a comfy couch. I can have everything I want, after all. Just not all at once.
Oh, and anyone who wants to give me some rain, or take away a couple degrees of heat, please be my guest.
As a person on a fixed income, my goal in general to avoid spending money unless I get a large reward in return. The Tightwad Gazette refers to this as the wow factor. I'm sure every one's wow factors differ.
Now, 24 hours after seeing the above mentioned movie, it was a perfect example of way to little entertainment value for way too much money. While the movie was enjoyable, the cost for that movie in terms of value was off the charts. In other words, at almost thirty dollars for less than two hours of entertainment, and snacks, the return on investment was very low.
Now, some might say that this was a one time event, and to relax and enjoy the film, rather than obsess over the cost. That's just what we did at the time, and as I mentioned earlier, the movie was nice, while not exceptional (in my humble opinion). But that same thirty dollars could have gotten me many nights of movie and high grade snacks on my comfy couch at home. Even if you only figure three movies and attendant snacks, I doubt that the movie experience was worth three times the cost. A little planning while I was on vacation would have given me netflix movies and a well stocked fridge.
Everyone has different wows and needs. The important thing is to acknowledge them. In my case I am absolutely unwilling to spend money on weekly dining out at places like the Outback or Macaroni Grill. On the other hand once or twice a year I am willing to spend a large amount at the best restaurant in town. Not only will I get big value for big money, but the memory will last me for awhile. I certainly have my own entertainment needs and desires. I've recently seen the revival of Guys and Dolls, as well as the final Harry Potter in 3D (a movie meant to be seen in a really, really big theater).
Most of the time I have a good handle on what is worth (for me) to spending money on and what is not. Like everyone else, sometimes life gets in the way. When that happens (just like this weekend) I enjoy myself, and then remind myself that next time I'll be much more content with a visit to red box, my gourmet popcorn seasonings, wine and a comfy couch. I can have everything I want, after all. Just not all at once.
Oh, and anyone who wants to give me some rain, or take away a couple degrees of heat, please be my guest.
Thursday, June 2, 2011
Living Frugally (and Simply) Throughout The Season
Previously, I’ve written about how I have found spring to be an extremely frugal season. That’s still true. However the truth is, that to be truly frugal (and to enjoy every season), one needs to live with, and enjoy each season and its own offerings. I’ve especially found this true as I work to be more frugal (I hate the word extreme), and to bring a little bit of simplicity and minimalism to my life.
There is an old saying about being able to have everything you want, just not at the same time. Living and partaking of the seasons is a great example. Generally when folks talk about taking advantage of the seasons to save money, they are talking about eating and cooking. Obviously that’s a large portion of our disposable budget and is generally good advice. But that’s just one aspect of using your location and the seasonal aspect to control the budget, and simplify life in general.
In my previous life, I spent seven years in Germany. Germans (and I suspect many Europeans) have a greater appreciation of the “now” than we do (for the most part) in my experience. Some of this I’m sure is economic, some has to do with environmental issues that we haven’t necessarily faced and some of it has to do with more people in a smaller space, and overall smaller homes. The end result is that when raspberry season arrives, every Gasthaus and restaurant will have menus based on the berries, as well as warm raspberries on ice cream for dessert. The menu may vary from restaurant to restaurant, but the ingredients will be similar. The same with Spargel (white asparagus). No matter what you order, asparagus will be the vegetable of choice with your meal. When it’s advent, there is no limit to the number of Christmas Markets one may visit, how many spiced wines one may drink or how many Christmas songs one may hear. However, Christmas is only for four weeks and after the day after Christmas, it’s on to another time, another season. To celebrate Christmas before the beginning of Advent would be blasphemy.
I live in Texas. While I cannot realistically open my windows and turn on my fans during the summer, there are other things that I can do. I deliberately dress like it is summer. This means casual clothing as well as extremely cool clothing. Everything else bars a sweater or two are put away. I keep the air as low as possible and try to spend a certain portion of my day outside. When I cook, I take advantage of outdoor cooking and salad opportunities as much as possible (both to keep the house cool and to save money). My shopping, be it at a store, grocery store or yard sale, consists of those things that will naturally be low cost or on sale. In the food department, this means I eat a lot of grilled and barbecued food and salads. My crockpot and rice cooker are left for other times. When I need culture or entertainment, I take advantage of what is free and available, first. Right now this means, art fairs, outdoor concerts, and Fourth of July celebrations. It also means exploring the bluebonnets and lavender, and taking a short drive to a free beach or lake.
In October, things will have changed. I’ll have kissed the raspberries, watermelons and blueberries good bye until next year. I’ll welcome pumpkins and my slow cooker with open arms. My entertainment choices will be fall dinners, pumpkin patches and visit the leaves. Summer clothes will (for the most part) be put away, and even in Texas it will be time to bring out sweaters and sweats. I’ll start reserving films at the library for those dark evenings and out will come popcorn and hot chocolate.
By allowing myself to appreciate and take advantage of what is available to me hear and how, I manage to both cut spending and simplify my life overall. Try it, you’ll like it!
There is an old saying about being able to have everything you want, just not at the same time. Living and partaking of the seasons is a great example. Generally when folks talk about taking advantage of the seasons to save money, they are talking about eating and cooking. Obviously that’s a large portion of our disposable budget and is generally good advice. But that’s just one aspect of using your location and the seasonal aspect to control the budget, and simplify life in general.
In my previous life, I spent seven years in Germany. Germans (and I suspect many Europeans) have a greater appreciation of the “now” than we do (for the most part) in my experience. Some of this I’m sure is economic, some has to do with environmental issues that we haven’t necessarily faced and some of it has to do with more people in a smaller space, and overall smaller homes. The end result is that when raspberry season arrives, every Gasthaus and restaurant will have menus based on the berries, as well as warm raspberries on ice cream for dessert. The menu may vary from restaurant to restaurant, but the ingredients will be similar. The same with Spargel (white asparagus). No matter what you order, asparagus will be the vegetable of choice with your meal. When it’s advent, there is no limit to the number of Christmas Markets one may visit, how many spiced wines one may drink or how many Christmas songs one may hear. However, Christmas is only for four weeks and after the day after Christmas, it’s on to another time, another season. To celebrate Christmas before the beginning of Advent would be blasphemy.
I live in Texas. While I cannot realistically open my windows and turn on my fans during the summer, there are other things that I can do. I deliberately dress like it is summer. This means casual clothing as well as extremely cool clothing. Everything else bars a sweater or two are put away. I keep the air as low as possible and try to spend a certain portion of my day outside. When I cook, I take advantage of outdoor cooking and salad opportunities as much as possible (both to keep the house cool and to save money). My shopping, be it at a store, grocery store or yard sale, consists of those things that will naturally be low cost or on sale. In the food department, this means I eat a lot of grilled and barbecued food and salads. My crockpot and rice cooker are left for other times. When I need culture or entertainment, I take advantage of what is free and available, first. Right now this means, art fairs, outdoor concerts, and Fourth of July celebrations. It also means exploring the bluebonnets and lavender, and taking a short drive to a free beach or lake.
In October, things will have changed. I’ll have kissed the raspberries, watermelons and blueberries good bye until next year. I’ll welcome pumpkins and my slow cooker with open arms. My entertainment choices will be fall dinners, pumpkin patches and visit the leaves. Summer clothes will (for the most part) be put away, and even in Texas it will be time to bring out sweaters and sweats. I’ll start reserving films at the library for those dark evenings and out will come popcorn and hot chocolate.
By allowing myself to appreciate and take advantage of what is available to me hear and how, I manage to both cut spending and simplify my life overall. Try it, you’ll like it!
Thursday, February 24, 2011
Living Richly in Retirement: Do We Need As Much As They Say?
Recently Grace over at Graceful Retirement has a blog post on the exaggerated cost of retirement. Grace figures that many of us won’t need the eighty five percent of our salary the analysts tell us we need. While everyone’s needs are unique, overall, I tend to agree.
I’ve made no secret of my financial status, or the fact that because I was forcibly retired at fifty something (and spent all my savings in a few years) that I will need some stream of income to make the difference. But in my case I manage to travel, pay a mortgage on a house, and support a college student part time and still have monthly expenditures of much less than 85 percent of our salary when my husband was working. And by a certain amount of downsizing, I could live on much less comfortably.
Why is this true? I would say that there are three ways that make it possible for many retirees to live cheaper than previously.
First, most of us have most if not all the basics in terms of furnishings and clothing. While we may need to shop to “fill in”, we’re not spending money on household basics. While I occasionally need to replace items, at this point I have a household that functions well with things on hand. I have pots, pans, dishes, pillows, furnishings and clothing, just to name a few. The only “things” I see myself needing to buy in the future are clothes, and that’s only because I’m in the process of losing 100 pounds, other than that I would be set for life. This doesn’t mean that I will never buy a thing, just that those things aren’t needs and that I can pick and choose what and if to buy.
We don’t have work related or financial expenses. I’m not commuting to a job. While I enjoy looking good, and maintain myself well, I’m not spending money in the manner of my former dress for success life. I’m not saving (for college or retirement); paying income taxes for the most part or dry cleaning my clothing.
Most importantly in this equation (at least to me), is time. Because I have time, I can do for myself things which may have been hired out before. I cook for myself as much as possible rather than eat out (although I enjoy eating out, now it’s a special occasion rather than a last minute rush). Having a surfeit of time also means that I can investigate specials and discounts and take advantage of last minute and one time deals quickly. I can take a relaxing road trip to, say, New Orleans because my time is my own. When I fly, I can volunteer to wait until the next flight since I don’t have to be at work. I can travel off season, and on the weekdays. I can take advantage of free entertainment, Wednesday movie specials, you name it.
Obviously, lifestyles will differ. And eighty five percent of minimum wage is certainly less than eighty five percent of say, $60,000 per year. A person whose hobby is flying will need more than I do for quilting, travel and genealogy. And I suppose the argument could be made that we are two now instead of three (although with the exception of some travel expenses I don’t think our regular living expenses would increase by adding another person significantly). But overall, I think many folks can manage well on less than they thought or had hoped they would have, without significantly altering lifestyle choices.
Coming next………what costs increase in retirement??
I’ve made no secret of my financial status, or the fact that because I was forcibly retired at fifty something (and spent all my savings in a few years) that I will need some stream of income to make the difference. But in my case I manage to travel, pay a mortgage on a house, and support a college student part time and still have monthly expenditures of much less than 85 percent of our salary when my husband was working. And by a certain amount of downsizing, I could live on much less comfortably.
Why is this true? I would say that there are three ways that make it possible for many retirees to live cheaper than previously.
First, most of us have most if not all the basics in terms of furnishings and clothing. While we may need to shop to “fill in”, we’re not spending money on household basics. While I occasionally need to replace items, at this point I have a household that functions well with things on hand. I have pots, pans, dishes, pillows, furnishings and clothing, just to name a few. The only “things” I see myself needing to buy in the future are clothes, and that’s only because I’m in the process of losing 100 pounds, other than that I would be set for life. This doesn’t mean that I will never buy a thing, just that those things aren’t needs and that I can pick and choose what and if to buy.
We don’t have work related or financial expenses. I’m not commuting to a job. While I enjoy looking good, and maintain myself well, I’m not spending money in the manner of my former dress for success life. I’m not saving (for college or retirement); paying income taxes for the most part or dry cleaning my clothing.
Most importantly in this equation (at least to me), is time. Because I have time, I can do for myself things which may have been hired out before. I cook for myself as much as possible rather than eat out (although I enjoy eating out, now it’s a special occasion rather than a last minute rush). Having a surfeit of time also means that I can investigate specials and discounts and take advantage of last minute and one time deals quickly. I can take a relaxing road trip to, say, New Orleans because my time is my own. When I fly, I can volunteer to wait until the next flight since I don’t have to be at work. I can travel off season, and on the weekdays. I can take advantage of free entertainment, Wednesday movie specials, you name it.
Obviously, lifestyles will differ. And eighty five percent of minimum wage is certainly less than eighty five percent of say, $60,000 per year. A person whose hobby is flying will need more than I do for quilting, travel and genealogy. And I suppose the argument could be made that we are two now instead of three (although with the exception of some travel expenses I don’t think our regular living expenses would increase by adding another person significantly). But overall, I think many folks can manage well on less than they thought or had hoped they would have, without significantly altering lifestyle choices.
Coming next………what costs increase in retirement??
Tuesday, February 15, 2011
Fixed Income Living-Exercising Can Help Keep Medical Costs In Line
On Sunday, for the first time in a long time, I walked for a half an hour around my neighborhood. The weather has been close to 70 here in the northern Texas area. I've was grateful to take the walk, and had not realized how much I missed it.
Anyone who has known me a long time would be astounded by the last statement. I abhor "exercise" and "working out". I managed to get through high school and college with minimal PE and no sports activity. Although I've heard that the longer one exercises, the more one enjoys it, it's never happened for me. For a great many years my only exercise was the normal walking done by a person living in an urban village area. I walked to the library (half a mile each way), to the movies and home (about the same) and explored my immediate neighborhoods. I traveled all over Europe and walked on cobbled streets. I managed to stay in halfway decent shape, although I was overweight and had arthritis.
Then, as often happens, things changed. Many things, actually. I took an extremely bad fall from a height onto cobblestones. I moved to a place where a car was required for every errand or trip. My arthritis became worse. I ate whatever I wanted during a grief spurt, and had a TIA (my warning bell). I had never had large medical bills before, or medications other than for the occasional antibiotic. I wanted to improve my health, as well as spend as little as possible of my small income on medical costs. I was willing to make a conscious effort at regular exercise to reach those goals.
What I've come to realize is that even a little exercise can go a long way for me, and probably for use as well. Exercise builds bones, and helps with balance, strength, and flexibility. Of course it's also good for our hearts. In my case, it's great for creativity as well. I walk alone, and it's a change to do some creative thinking alone. Along with making us healthier, exercise is a :"frugal" choice as well. Since I've begun exercising, my blood pressure medicine has been cut in half and I hope to eliminate the medication soon. I still have arthritis pain, but it's manageable, and easier to deal with lately.
Exercising need not break the bank. I cannot affored to join a gym. There are all kinds of alternatives, and if you need the boost of another person to motivate you, invite a friend. Walking is free (just choose a route that is safe, and even to prevent falls). In the warm weather Iwalk or swim in my community pool.. A while back, I invested in a "chair aerobics" CD (before you laugh, its a half hour work out and can kick my you know what). Your local PBS may have a choice of exercise programs, and if you have cable your "on demand" choices will allow you to work out at any time.
Are you working out now? How do you do it cheaply?
Anyone who has known me a long time would be astounded by the last statement. I abhor "exercise" and "working out". I managed to get through high school and college with minimal PE and no sports activity. Although I've heard that the longer one exercises, the more one enjoys it, it's never happened for me. For a great many years my only exercise was the normal walking done by a person living in an urban village area. I walked to the library (half a mile each way), to the movies and home (about the same) and explored my immediate neighborhoods. I traveled all over Europe and walked on cobbled streets. I managed to stay in halfway decent shape, although I was overweight and had arthritis.
Then, as often happens, things changed. Many things, actually. I took an extremely bad fall from a height onto cobblestones. I moved to a place where a car was required for every errand or trip. My arthritis became worse. I ate whatever I wanted during a grief spurt, and had a TIA (my warning bell). I had never had large medical bills before, or medications other than for the occasional antibiotic. I wanted to improve my health, as well as spend as little as possible of my small income on medical costs. I was willing to make a conscious effort at regular exercise to reach those goals.
What I've come to realize is that even a little exercise can go a long way for me, and probably for use as well. Exercise builds bones, and helps with balance, strength, and flexibility. Of course it's also good for our hearts. In my case, it's great for creativity as well. I walk alone, and it's a change to do some creative thinking alone. Along with making us healthier, exercise is a :"frugal" choice as well. Since I've begun exercising, my blood pressure medicine has been cut in half and I hope to eliminate the medication soon. I still have arthritis pain, but it's manageable, and easier to deal with lately.
Exercising need not break the bank. I cannot affored to join a gym. There are all kinds of alternatives, and if you need the boost of another person to motivate you, invite a friend. Walking is free (just choose a route that is safe, and even to prevent falls). In the warm weather Iwalk or swim in my community pool.. A while back, I invested in a "chair aerobics" CD (before you laugh, its a half hour work out and can kick my you know what). Your local PBS may have a choice of exercise programs, and if you have cable your "on demand" choices will allow you to work out at any time.
Are you working out now? How do you do it cheaply?
Saturday, October 9, 2010
Flexibility-The Best Part Of Retirement!!
As I write this I’m in Denver, sitting in my sister’s living room watching football. This follows a day and a half or driving through and exploring west Texas. I’ll spend a few days visiting relatives and getting to see some real fall color. Later on in the week I’ll drive to Santa Fe and spend the afternoon and evening exploring the Plaza and environs. The following day I’ll drive south on the Turquoise trail to Old route 66, and then to Amarillo and then a different route to through Texas to Dallas.
I’m enjoying this trip so far, and imagine that I will enjoy the rest of my travels as well.
In theory, I could have taken this trip during my working years. Truth is, I probably would have enjoyed it then equally as well. But I would have had to ask for leave, or been away from customers for a week or so. I would have at to schedule my time, at least in as much as I was sure to get back to work at my appointed time. When I returned I probably would have mentally had to reset my mind and attitude back to work.
In my current (retired) life, it’s a whole different ball game. I actually decided to take this trip three days before I left home. It might have been less except that I have a four legged child. There was no employer to ask, serious scheduling to do or any of the other things that would have been required to take time off from a regular job. At the same time, should I take an extra day to return, it will impact little. If I decide I need another full day in Santa Fe, I’ll simply extend my hotel a day and move onward.
More than anything else, its things like this that to me, define retirement (chosen or not). Retirement doesn’t mean that I sit on the couch watching TV and eating bonbons (although that also has value on occasion!). Retirement doesn’t necessarily mean I am less busy overall. I still quilt, maintain a home, attempt to manage two small businesses, and many other things. On some occasions, as Syd reminds me, I attempt to do more than one person should.
The difference is simply control. I get to say yes and no. I get to make choices, day to day, on what to do. I have the choice to simply throw things into the back of my car and take off until I am ready to come home. I have the choice as to whether I want to make an Indianapolis Colts Quilt for a client, read a novel, can barbecue sauce for gifts, or replace my blinds in the living room. Even with work or my business, I get to choose the amount, the time, and the effort to expend.
To me, this gift is the best part of retirement. In my case, this kind of freedom is worth some sacrifices, be they financial or otherwise. It’s what retirement is all about.
I’m enjoying this trip so far, and imagine that I will enjoy the rest of my travels as well.
In theory, I could have taken this trip during my working years. Truth is, I probably would have enjoyed it then equally as well. But I would have had to ask for leave, or been away from customers for a week or so. I would have at to schedule my time, at least in as much as I was sure to get back to work at my appointed time. When I returned I probably would have mentally had to reset my mind and attitude back to work.
In my current (retired) life, it’s a whole different ball game. I actually decided to take this trip three days before I left home. It might have been less except that I have a four legged child. There was no employer to ask, serious scheduling to do or any of the other things that would have been required to take time off from a regular job. At the same time, should I take an extra day to return, it will impact little. If I decide I need another full day in Santa Fe, I’ll simply extend my hotel a day and move onward.
More than anything else, its things like this that to me, define retirement (chosen or not). Retirement doesn’t mean that I sit on the couch watching TV and eating bonbons (although that also has value on occasion!). Retirement doesn’t necessarily mean I am less busy overall. I still quilt, maintain a home, attempt to manage two small businesses, and many other things. On some occasions, as Syd reminds me, I attempt to do more than one person should.
The difference is simply control. I get to say yes and no. I get to make choices, day to day, on what to do. I have the choice to simply throw things into the back of my car and take off until I am ready to come home. I have the choice as to whether I want to make an Indianapolis Colts Quilt for a client, read a novel, can barbecue sauce for gifts, or replace my blinds in the living room. Even with work or my business, I get to choose the amount, the time, and the effort to expend.
To me, this gift is the best part of retirement. In my case, this kind of freedom is worth some sacrifices, be they financial or otherwise. It’s what retirement is all about.
Monday, August 30, 2010
Spending Now to Conserve Later
Like a great many folks, my retirement will entail having a lot less money than I had hoped. Knowing that I may have to live on just my government survivors pension and social security sooner than I might like, I tend to spend some time planning and evaluating scenarios.
Knowing my reality, one of the things that I do as part of my long term frugal plan is to acquire certain things. Depending on your current and future lifestyle and finances, you may wish to do the same. Some might say that this goes against the grain. In my case I'm taking money from my puny IRA for living expenses. The prevailing attitude is probably that even taking an extra few dollars now is a bad idea. Better to down size and streamline now in preparation for what awaits. To be sure, I do that as well.
But the truth be told, extreme frugal living in retirement will require basic preparation. Look at it as disaster preparation for retirement if you will. Part of being prepared is to make sure that we have the items in our possession to make do, no matter the circumstance. To avoid being caught unawares or without basic needs. If we need to rely on our little pot or pots of money for the basics bills and hopefully a few extras here and there, then we need to find a way to provide all those other needs, wants and comfort items. And we need to get them as cheaply as we are able. That requires perseverance and planning. My personal goal, is to live as richly as I can with as little as I can. So again, preparation is the key. Since it seems to be too late to change my so called "retirement plan" in terms of investments and savings-I need to prepare in other ways.
What should we stock up on? Obviously that depends on needs, lifestyle and location. In general, items used to replace, create, amuse or comfort. Things that later in life may not fit into that tightly squeezed budget.
We may want to get replacement items at a good price. I expect my really good coffee maker to last a long time. Unfortunately, having missed out on the grace and coordination gifts, I do not expect my carafe to last that long. I have two that cost pennies. I plan that my queen sized bed will go wither I goest (which will never be an RV or a boat). I am on the lookout for at least 70 per cent off items for the bed, and when I see something I like that fits the bill, I'll eventually get it. My goal is to never buy clothing after I retire unless someone gifts it. So I shop for clearance items and put them away. I have acquired a reasonable number of canning jars.
What about household supplies or comfort items that you anticipate being needed? Being unsure of remaining in this house, I have not made very many adjustments. As a healthy but arthritic woman, If I were staying I would invest both in grasp bars and a higher toilet seat. By the same token, my bending and reaching isn't what it once was and a wheelbarrow would make my life much easier. I would also be making any and all improvements or repairs now.
Another possibility are hobby or amusement items. Yes, occasionally our interests change. But if you have a real hobby that uses any amount of equipment or supplies, getting them now may help later. I quilt, create cards and scrapbooks, cook, read and travel. I've slowly starting acquiring various items in an organized fashion so that not only can I know that I will always be able to enjoy these things on the level that I do now, but that I can use my skills to create gifts instead of buying them. You may have different hobbies, interests or talents. No matter your interest or skill, make sure that you will always have the necessities on hand to enjoy them. Not only can you enjoy your hobby, you may be able to bring in some small extra cash if you have the proper materials and supplies at your disposal.
Obviously as you acquire these things, you need to have a place for them. Every one's amount of space is different. If it's all in a pile in the guest room, it serves no purpose. As I mentioned before, as part of my frugal preparations I also downsize and eliminate things from my life. My former dress for success wardrobe, evening outfits that I wore when my husband was alive and we entertained, piles of hardback fiction, cooking utensils and appliances I don't use-these are just some of the things that have exited my home, with more to come.
It's fairly sure that every one's list of needed things will be different. In my case I was married to a Department of Defense employee. Going overseas meant loss household goods, broken furniture, the inability to move food and outdoor items from place to place. Someone who has lived in the same home all their live may have fewer and different needs I suggest you look at your home and environment and ask yourself what you would do if you could not go beyond your yard for three months. What would you want to make sure you had, not including food. Could you mow your lawn? Be comfortable in your house? Have enough to do? What would be in your way and of no use. Use that as a starting point and go from there.
Although it's a topic for another day, don't for get that there are other ways to "invest" in your frugal future. Skills, knowledge and sweat equity come to mind, but I'll save that for another time. .
Knowing my reality, one of the things that I do as part of my long term frugal plan is to acquire certain things. Depending on your current and future lifestyle and finances, you may wish to do the same. Some might say that this goes against the grain. In my case I'm taking money from my puny IRA for living expenses. The prevailing attitude is probably that even taking an extra few dollars now is a bad idea. Better to down size and streamline now in preparation for what awaits. To be sure, I do that as well.
But the truth be told, extreme frugal living in retirement will require basic preparation. Look at it as disaster preparation for retirement if you will. Part of being prepared is to make sure that we have the items in our possession to make do, no matter the circumstance. To avoid being caught unawares or without basic needs. If we need to rely on our little pot or pots of money for the basics bills and hopefully a few extras here and there, then we need to find a way to provide all those other needs, wants and comfort items. And we need to get them as cheaply as we are able. That requires perseverance and planning. My personal goal, is to live as richly as I can with as little as I can. So again, preparation is the key. Since it seems to be too late to change my so called "retirement plan" in terms of investments and savings-I need to prepare in other ways.
What should we stock up on? Obviously that depends on needs, lifestyle and location. In general, items used to replace, create, amuse or comfort. Things that later in life may not fit into that tightly squeezed budget.
We may want to get replacement items at a good price. I expect my really good coffee maker to last a long time. Unfortunately, having missed out on the grace and coordination gifts, I do not expect my carafe to last that long. I have two that cost pennies. I plan that my queen sized bed will go wither I goest (which will never be an RV or a boat). I am on the lookout for at least 70 per cent off items for the bed, and when I see something I like that fits the bill, I'll eventually get it. My goal is to never buy clothing after I retire unless someone gifts it. So I shop for clearance items and put them away. I have acquired a reasonable number of canning jars.
What about household supplies or comfort items that you anticipate being needed? Being unsure of remaining in this house, I have not made very many adjustments. As a healthy but arthritic woman, If I were staying I would invest both in grasp bars and a higher toilet seat. By the same token, my bending and reaching isn't what it once was and a wheelbarrow would make my life much easier. I would also be making any and all improvements or repairs now.
Another possibility are hobby or amusement items. Yes, occasionally our interests change. But if you have a real hobby that uses any amount of equipment or supplies, getting them now may help later. I quilt, create cards and scrapbooks, cook, read and travel. I've slowly starting acquiring various items in an organized fashion so that not only can I know that I will always be able to enjoy these things on the level that I do now, but that I can use my skills to create gifts instead of buying them. You may have different hobbies, interests or talents. No matter your interest or skill, make sure that you will always have the necessities on hand to enjoy them. Not only can you enjoy your hobby, you may be able to bring in some small extra cash if you have the proper materials and supplies at your disposal.
Obviously as you acquire these things, you need to have a place for them. Every one's amount of space is different. If it's all in a pile in the guest room, it serves no purpose. As I mentioned before, as part of my frugal preparations I also downsize and eliminate things from my life. My former dress for success wardrobe, evening outfits that I wore when my husband was alive and we entertained, piles of hardback fiction, cooking utensils and appliances I don't use-these are just some of the things that have exited my home, with more to come.
It's fairly sure that every one's list of needed things will be different. In my case I was married to a Department of Defense employee. Going overseas meant loss household goods, broken furniture, the inability to move food and outdoor items from place to place. Someone who has lived in the same home all their live may have fewer and different needs I suggest you look at your home and environment and ask yourself what you would do if you could not go beyond your yard for three months. What would you want to make sure you had, not including food. Could you mow your lawn? Be comfortable in your house? Have enough to do? What would be in your way and of no use. Use that as a starting point and go from there.
Although it's a topic for another day, don't for get that there are other ways to "invest" in your frugal future. Skills, knowledge and sweat equity come to mind, but I'll save that for another time. .
Subscribe to:
Posts (Atom)