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Frugal Retiring News, Issue #013
June 22, 2010
Frugal Retiring News Issue #13, June 2010
Your writer with his bride of 35 years...the reason I enjoy retirement so much...24/7 with each other.
Greetings from ArizonaOur 13th newsletter...I hope it finds you well and retired or planning to retire.
It is the second day of summer...it will be 105 today...and I will still tee off at 12:00. I am not nuts...(you of course are entitled to your own opinion)... we use sunblock, drink water by the gallon, and try and stay in the shade...and play in a little over 3 hours.
Retirement Confidence reportThe EBRI (Employee Benefit Research Organization) puts out a annual report on the confidence of workers concerning their retirement...this was the 20th year of such reports and the story is not good.
Only 16 percent of all workers think they will have enough money to retire...over 72% of workers plan to work after retirement...working and retirement used to be an oxymoron...it is the new reality.
The reasons for this pessimism:
1) The poor economy in general
2) Poor stock market performance
3) Low interest rates on savings
4) High credit card debt...average family credit card debt is $8,000
5) A sense of frustration with the federal and state budget deficits
6) Falling home values and foreclosures
The perfect economic storm...as the first of 76 million baby boomers reach the "normal" retirement age of 65.
The 2010 retirement options1) Do not retire...keep working...the saddest scenario...readers if you know of someone facing this option please let them know about this site...it is not as hopeless as it seems.
2) Retire overseas...where a Social Security check of say $1,500 a month can enable you to retire and live well in several Latin American countries...for some this seems to be a bitter pill to swallow...for others they embrace living overseas for less.
3) Downsizing...Those that say they cannot downsize will not find a sympathetic ear at Frugal retiring News...from a 1800 two story home with 2 cars...to a 35 foot sailboat. Now compare going from the big house to a condo or park model...hmmm, I thought so.
4) "Normal" work after retirement...could be part time could be another job...does not sound like retirement to me. There is a lot of competition for these jobs in the popular retirement states of Florida and Arizona.
The solution I chose to stay retiredMost of you know I have been retired for 16 years...this website, the "work" I am doing now, is enabling us to stay retired.
I have done this ( the website) now for about 15 months...I "appear" fully retired to my friends...I play golf when I want, take trips when I want...this does not require an inflexible working environment or location. I will "work" while I am traveling this summer on vacation.
I am more sold now on the above approach to building a website than any other way...and after 15 months I have seen almost every scheme...and mostly scams...that there is.
Thank you Site build It.
You cannot beat the flexibility and freedom an earning website can give you.
If I can do this so can you.
A new site is bornTo give you an example of what the above program teaches you to do go to Best Retirement Living.
I started this site On May 14...I now have 58 pages of original (that means I wrote it myself) content up.
The subject matter is very similar to www.frugal-retirement-living.com...it is not constrained by the emphasis placed on budget matters that this site focuses on. Hope you enjoy it.
Why did I do it?...simple...the money I am making on this site is approaching my Social Security check...this new site is set up to maximize revenue from the on site advertising.
Readers thank you so much for making www.frugal-retirement-living.com a success. Hope you enjoy the new site as well.
Some products and services I recommend you use.For saving big bucks on home refinancingsee how much you can save.
As I write this I am contemplating refinancing again...I closed my last loan on 2/17/2010. If I can save another $100 a month I would be foolish not to do so again. No costs to me and this time I will save myself the agony and use the above lender exclusively.
For saving big bucks on health insurance. I have used and saved with this service for 9 years...Caution you may get really mad when you find out how much you can save...I told you so.
My favorite submissionJack writes..."I am retiring in a few months and will have a pension income of $40,000 a year and a portfolio of $400,000 in mutual funds...is this enough to go sailboat cruising like you did?"
When I stopped laughing...I informed Jack that he had more money than I did when we left and I did not have a pension. I wished him well.
I hate you Jack...just kidding.
Keep the comments coming, I answer 2 to 3 emails every day from readers. If you have questions let me know.
Our favorite picture of the month
The type of sunset we see often where we live. Photo courtesy of Dr. Gene Willis.
Frugal retiring news tip of the month..Eat in and saveWe have eaten in so much...when we had lots of money and not so much money...for so long I took it as a given that everybody else did as well. My bad.
Not only do you save money by eating in...the health benefits also have a economic impact on what you spend (or won't spend) on medicene. Not to mention how much better you will feel. When you prepare a meal at home you know what you are getting and your body thanks you. The social benefits of sharing a sit-down meal at home are a bonus.
You eat out and the restaurant owner is concerned only about the taste of your meal. Calories and Sodium, are not his problem...they are yours.
Eat in and save...be healthier at the same time.
All the best,
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