Ten Steps for Frugal Living
Frugal Simple Living
1. Stop thinking of frugal living as depriving yourself – People who live in a frugal way enjoy the things that are most important to them. A frugal person spends money on things because they enjoy them not because they need to “keep up the Jonses.” Frugal people think independently and don’t have to run out and buy the latest thing. Most importantly frugal people value their freedom. They choose how they live because they are not prisoners of their spending.
2. Find other frugal people and learn from them – There are tons of frugal living blogs with great ideas that you may not know about.
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Extreme Early Retirement
Early Retirement Blogs
Could you be an extreme retiree? Who are the extreme retirees? Surprisingly, extreme early retirees are a divers e group. They run the gamut from young parents to singles and dual-income couples without children. They share an excitement about their lives, a desire to spend time in pursuits that are meaningful to them, and often, an environmental conscience.
For those who aim to make early retirement a reality, the first big hurdle is coming up with a figure of how much money do we really need to have?
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Cobra for Early Retirees
Retire at 30?
One of the big expenses that early retirees need to concern themselves with is health insurance. Most people time their retirement to coincide with Medicare eligibility at the age of 65. Early retirees have to consider other options until Medicare begins.
Consolidated Omnibus Budget Reconciliation Act (COBRA), which passed by Congress in 1986, provides healthcare coverage for retired employees, spouses, former spouses and dependent children for 18 months. The cost is less than what you would pay on your own but more than your rate as an employee.
Early retirees qualify for COBRA benefits under the following conditions:
Categories: Finance, Insurance, Retirement Tags: cobra, early retirement, health insurance, hippa
Frugal Retirement Living
Retire Early and Frugally
Here is an interesting perspective on frugal living that goes along with our mission to live frugally but still enjoy life and live well.
One author of a frugal living blog describes frugal living as “to look at optimizing efficiency and utility – one will become frugal, rather than just do frugal things.”
This blogger claims he spend about 75% less than the average person, and yet gains an equivalent level of satisfaction.
One of things he mentions that helps you cut expenses during retirement is to live in a smaller dwelling and be within walking (or cycling) distance from work, libraries, and shopping areas.
Categories: Finance, Retirement, Saving Money Tags: frugal living, retire at 30, retire early, save for retierment
