Extreme Early Retirement – Difference in Planning for Early Retirement vs. Retiring at 65
Traditional IRA and Roth IRA
Planning for an early retirement is different than planning for retirement at 65. Obviously the money will have to last much longer but what are the other important financial issues for early retirees?
Investment strategy – Your investments need to be more conservative than what is typical for your age group. While aggressive investing might make more money in the long run, you can’t afford those short term dips. Aggressive investors planning on retiring at 65 can wait a few years for the market to come back but if you want to retire in a few years you need your money accumulating a steady rate with little risk of losing a large percentage of your capital. Early retiree bloggers recommend going with conservative dividend-paying stocks using lower risk asset allocation strategies like the “permanent portfolio.”
Categories: Cheap Insurance, Finance, Retirement, Saving Money Tags: early retirement, retire at 30, retire at 30 vs. retire at 65
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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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
Are Refurbished Electronics Worth It
Are Refurbished Electronics Worth Buying
One of the best kept secrets of the high end electronics market is how much you can save by buying a refurbished product. Because of the dip in the economy more people are discover refurbished electronics have reliability and better company warranties.
You can usually save between 50% and 70% on refurbished product. There are several different kinds of refurbished and the pricing is reflective of the differences. For example there is: ‘factory refurbished’ or factory-sealed refurbished products, and ‘third-party refurbished’ products. Factory refurbished products sell at a higher price over third-party refurbished items but still represent big savings.
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