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Frugal Retiring News, Issue #014
July 22, 2010
Frugal Retiring News Issue #14, July 2010
Your writer with his bride of 35 years...the reason I enjoy retirement so much...24/7 with each other.
It's a dry heatGreetings from Arizona...the temperature continues to climb into the 110 plus range...even though the humidity remains a solid 7% (seven)it is a bit warm.
We are leaving for summer vacation next week. We have some frugal vacation thoughts to share with you below...hope you can pick up some tips.
Time with family is important and I hope you can take a trip somewhere to relax.
Here is where we are headed for in Oregon.
Our frugal vacation tipsWe are driving by car from Surprise to Sacramento and Grass Valley , California then to Sunriver, Oregon.
The first way we save is only one night in a motel...coming back from Oregon...too far to drive straight through.
We will leave at 3AM to be in downtown Sacramento at 3PM...the traffic can be brutal going out I80 toward Reno...our family is in Lincoln.
We can do this, with no stress, by listening to book tapes from the library...free...it makes the miles pass quickly.
We stop only for gas, bathroom breaks, and to stretch every 2 hours. Never for fast food...fast food is expensive, takes time and can leave you with an upset stomach.
My bride, see above, packs a cooler with drinks, cold washcloths, food and fruit...watermelon is $0.09 a pound now... by eating on the way we save time, money and know it wont upset the stomach.
We find that driving is less stressful than flying...security concerns and low airline profits, have made flying no fun at all...by driving you also have the ability to see at lot of this beautiful land we call home...a lot better than the view from 22B.
Hope you pick up something that can save you money this summer.
Baby Boomer NewsYou do not need me to tell you that the future for baby boomers and their retirement plans is less than ideal or certain.
We will all feel a lot better, when and if, the economy improves.
The poor economy has more of an affect on retirees than one might think...and I speak as the eldest of the boomers born in 1945...
1) Low interest rates on savings has removed a sure and steady way to build the retirement kitty.
2) The alternative to savings is the stock market...it has not performed well for several years...the declines of the 2008 market have not yet recovered...that is why yours truly is running this website.
3) Poor real estate performance has caused the unthinkable...a decline in home values...the equity in which many had planned to fund retirement.
4) High Unemployment has made supplementing retirement income more difficult...nor does it make the retiree feel any better knowing he or she is competing with a bread winner with a family for the few jobs that are available.
So retirement for baby boomers is not a sure thing by any stretch ...it also is no coincidence that this site, showing alternatives to "normal" retirement...has become more and more successful.
Retiring overseas will become more popularAbove is a scene from San Miguel de Allende a colonial town in Mexico that is becoming more and more popular as a retirement haven for Americans and Canadians.
Why?...because for some a Social Security check...will cover all expenses for retirement.
The poor economy will force more and more to consider retiring overseas.
This is a comfort to know that a fallback position is available for retirement on a budget... Caution...overseas retirement is not for everyone.
Who should not consider retirement overseasRetirement overseas is not for everyone...if this fits you simply cross overseas retirement off the list...
1) Do not consider moving overseas if you want things done in a hurry or like it was at home...Things move at a slower pace overseas...it is charming to myself...but may drive another batty.
2) If you worry about your health...the health care is fine and cheap overseas...but that is my opinion...if you would be concerned about trusting your health to a foreign doctor...retiring overseas may not be for you.
3) If you feel uncomfortable around folks not like you...you may want to stay within the borders of the US
4) Language barrier...if you are not willing to learn a little Spanish...this may preclude you from retiring to Mexico.
If the above is you...there is nothing wrong with you at all...nor am I inferring that you odd in any way...but I am merely trying to prevent you from considering retiring overseas...it is not for everyone.
The above observations are based upon our 8 years in the Caribbean and Venezuela...we loved every minute, you may not.
Our favorite frugal tip...We refinanced again.On the 20th of July we refinanced our home...we did so in February as well.
Why?...to save another $67 a month, bringing our total savings per month to slightly over $200 a month.
We did not bother with competitive bids...went with Quicken Loans...no closing costs, no increase in loan amount...totally painless...a notary came to our house for the closing.
Read what we have to say on refinancing and save...mortgage rates may not be this low forever.
My favorite submission"There is no charge for using this site...Right?" nope George...it is free...but you get what you pay for...just kidding.
"Would you choose a catamaran over a monohull"...didn't see many at all multihull cruisers down south...I just did not know enough to help this fellow.
One thing I can say...is go with what you have and observe what others do...if I had paid more attention to what type of dingy and motor were popular in the Caribbean...I would not have taken 4 years to get it right...read about my bad choices in dingys and outboards
"Thanks for the encouragement to retire early"...Fred you are most welcome...thanks for the kind words and tell your friends about the site.
Our favorite picture of the month
The lush vegetation around Boquete, Panama...any gardeners in the crowd?
Coming soonOur new site is still not indexed by Google...mother Google does take its time...we have 66 pages up...check it out...tell your friends.
We will have a page up soon on how to save by using solar panels to make electricity...a lot of folks are doing it here in Arizona...of course sunshine is something we never lack.
All the best,
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