Boomers and Frugal Retirement

Adjusting to a Frugal Retirement

Learning to live within your means is a major part of becoming comfortable financially and also preparing you for less in retirement.  If you live on credit, debt, and work your life away just to keep up then if and when retirement comes you'll be very disappointed.

Americans are putting off retirement

Putting it off

No surprise here.   Cost of items like cars, homes, and education are up while wages are stagnant.  In terms of inflation adjusted dollars most have fallen behind.

What this means is that you should reduce your expectations if you hope to retire.

Think trailer instead of beachfront condo.

Think USA travel instead of world travel.

Think eating in rather than eating out.

Never Retire

Never Retire may be the new retirement

Tennis teachers have an advantage in this.  They often love their job.  Find something you love doing and make that your retirement gig.

Retire Early

https://www.fool.com/retirement/2017/04/02/3-reasons-to-retire-as-early-as-you-can.aspx

This is valid advice.  You really don't know how long you'll live and waiting may also mean when you're older that you won't be able to do what you once did.

Worst States to Retire

http://www.realtor.com/news/trends/youll-never-guess-best-worst-states-retire/

I can agree with Alaska.  Cold is no fun.

Louisiana, Mississippi, and West Virginia make sense as not ideal places to retire.

But how about NY, NJ, NM,  Connecticut, and many of the high tax states.

Better options include Delaware  and Tennessee for low taxes.  Texas has a dynamic economy going for it.