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Frugal Retiring News, Issue #021
February 22, 2011
Hello

Frugal Retiring News Issue #21, February 2011

Welcome to the 21st issue of frugal retiring news... I just checked and see that this is going out to 996 recipients... That is a privilege that so many of you subscribe and read this newsletter.

I am always open to suggestion to how I can make it better... If you have any ideas please respond on the contact us page.

The current world/ US situation

With all the disturbing news coming from the Middle East it is apparent that we're living in very difficult and different times. We do not seem to have any point in our history that we can look back to for guidance and direction as it pertains to the situation in Egypt, Libya and Bahrain.

On the domestic front, the Wisconsin situation seems to be dominating the news. Almost every state in the USA is facing budget deficits, California, Illinois and New York being the biggies.

Something has got to give in these states.

Rather than sit back and wait for the government, both state and federal, to take action, I feel these situations make it more and more important for everyone... Those working and those retiring...to explore ways to generate extra sources of income or take a long hard look at the lifestyles on site that require less to live on.

I can imagine the pain and frustration of those that do not look to ways to either earn extra money or cut back on their spending... I would suggest that these times are so difficult that each one of us look to ways to protect our families.

Now I am not going to suggest that everyone do what I did... Start an online business...what I am doing is not for everyone. But please do something... Do not wait.

We are going to the Holy Land

Julie and I, are taking a trip with our church to visit the Holy Land... March 12 through March 22.

I let you know this because issue 22 of this newsletter will probably be a few days late... I try to get this letter out on the 22nd of each month.

This is a trip that we have looked forward to for a long time...with the current world situation being what it is... I would ask for your prayers for our safety and traveling mercies.

Our frugal tip for this month

First Lady Michelle Obama was recently on the Today show. Much was made of the fact that she was wearing a $35 dress... It is a good thing that our national leaders take the lead in pointing out ways that we can all save money.

I put up a page on site at:

showing my wife's response

If you have not seen it yet I would suggest that you visit the page and make your own determination as to what's really frugal.

I think five articles of clothing for five dollars is pretty good... I also thank the First Lady for making any attempt for making frugality the right thing to do.

One of these days are tough economic times are going to be behind us... Please Lord let it be soon... If and when that does happen I hope that your frugal habits will continue in the good days as well as in the less than good days.

I would suggest to each reader to visit their local thrift shop or Goodwill...I seriously doubt that the Goodwill store the Julie visits for dollar day is the only one in the country with dollar day.

Also remember that buying clothes for one dollar gives you a great opportunity to help others. It seems that Julie buys to three times as much to donate for Mexican missions, then she does for us.

When she sees items, a lot of times brand-new, for a dollar she doesn't worry about them fitting us... Somewhere in Mexico, it will fit someone.

International Living magazine article

I have submitted an article to International Living magazine, on "Retiring to a Sailboat".

It will be published in the May issue of the magazine. I will put up a page on site and also give you a link to the article once it is published.

Best Arizona retirement living

In case you missed it last month I have started a third site Best Arizona retirement living

I have had a lot of fun getting it started and hope you enjoy it.

Home mortgage advice

Interest rates are creeping up and if you have not taken advantage of refinancing your home I would certainly explore the possibility.

Here's the refinance link.

I was approached last Sunday at church by an acquaintance who knew of my background in commercial real estate. He was at the end of his rope and was looking for some advice.

Briefly, he has been struggling to avoid foreclosure of his home... He applied for and received mortgage relief for 12 months... Now the lender is delivering him an ultimatum... Sign a new mortgage for $260,000 on a home that recently appraised at $130,000...repeated attempts to negotiate with his lender have proved to be fruitless... He asked me what to do.

Since signing the mortgage for double what his house was worth, is economic suicide... I informed him of the service called You walk away...

This is definitely a last resort and is not to be used unless it is a last resort for you personally. I hope you never find yourself in this situation, but if you do, you should be aware of this option.

Closing thoughts

Please let us hear from you if you have any suggestions or questions.

Until next time, I would hope that we all find ways to stay frugal and keep saving money.

I urge you again to take a serious look at finding ways of a) making some extra money or b) looking at ways to spend less... The more we do for ourselves in these two areas, the better it will be for our families.

We again ask for your prayers for a safe journey to Israel.

Gary and Julie Pierce

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