How Your Frugal Retirement Stories Can Help

Your frugal retirement stories can help future retirees discover the joys and pains that come with retiring on a budget.   These days, many people are not only considering their retirement options but also how they can live in retirement on a budget.   With a shaky economic situation, one may not know if the 401(K), pension or social security benefits are enough to sustain a comfortable retirement.   It will help others for you to share your stories so that they can learn how to live frugally during the retirement years.


Living Frugally to Plan for Retirement

Some people begin their planning with frugal living long before retirement.   Sharing your frugal retirement stories can help others find ways to prepare for retirement.   For instance, a man in his early 60s describes how he and his wife took simple steps such as staying in for dinner and driving their cars for longer periods of time.   They also invested 15 percent of their gross monthly income in index stock and bond funds in an easily manageable portfolio because other investment strategies are too risky and do not work.

Your frugal retirement stories collected by AARP writer Jeff Yeager like that of Gerald and Julia Thomson whom he describes as frugaling their way to an early retirement.   Such retirees are able to live a comfortable retirement primarily because of smart spending habits. In fact, it appears that your frugal retirement stories such as these shows that despite modest paying jobs or a shaky investment climate, knowing how to spend wisely and put away the savings is one of the best ways to prepare for retirement.



Your Cheap Retirement Stories During Retirement

Of course many retirees will continue to live frugally once they have settled into their retirement years.   For instance, a man in his early 60s tells columnist Lynn O’Shaughnessy how he and his wife live debt free in their retirement as they enjoy trips in their comfortable motor home.   The couple also pays no mortgage on their home having paid off all their debts by living below their means during their working years.

There are other things prospective retirees can learn from your frugal retirement stories.   For example, living on a budget in retirement does not mean having to do without simple pleasures such as vacations or recreational activities.   Of course the drawback to frugal living is that there is no room for extravagant expenses.

However, the general consensus of those who have shared their stories is that they are happy with their decisions to live frugally before and during retirement.

More people are expecting a frugal retirement these days.   It is important that they find some guidance from those who have been through the same experience and can help them prepare to live within modest means with little income.   Those who want to use frugal living methods need to understand that the payoff for sticking with a budget is not immediate and may only become evident years later.   However, they just may find it worth the sacrifice.


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