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Retirees' New Pastime: Cutting Costs In All Sorts Of Ways

Sunday, September 9, 2012 - 5:56 AM
From CNBC.com
Many retirees are finding their golden years tarnished by low returns on investments and smaller nest eggs than they’d hoped. Meanwhile, longer life spans, increased expenses —particularly rising health care costs — plus a volatile stock market and low interest rates on savings havebaby boomers facing tough choices.

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4
Ken TuminKen Tumin5,441 posts since
Nov 29, 2009
Rep Points: 123,675
1. Sunday, September 9, 2012 - 8:10 AM
Is this a joke?  How do they think many retirees were able to get their savings in the first place?  Not by buying the most expensive cars, homes, or clothes etc.  If they are like me, they set themselves a goal many years ago for frugal lives so that they could possibly survive when the "hurricane" days hit.  You don't prepare "now" for hard times, you should have already prepared for it with your first paycheck.
4
paoli2paoli21,140 posts since
Aug 10, 2011
Rep Points: 5,083
2. Sunday, September 9, 2012 - 11:49 AM
You only have one life and you had better enjoy it while you can.  Believe it or not, there is such a thing as moderation. Besides, you can live frugally all your life only to end up with some dibilitating disease. Money won't buy you good health.
3
ShorebreakShorebreak2,365 posts since
Apr 6, 2010
Rep Points: 12,598
3. Sunday, September 9, 2012 - 12:48 PM
You are right that money won't buy you good health but it can sure be necessary to pay for the healthcare we all end up needing in our senior years.  It also can be a lifesaver if you have an adult child who has a chronic disease and lost their job and need your support.  My concern about money is not for myself but to help those who may depend upon me in these trying financial times.  I will always be grateful for learning to live frugally.  I don't think my family or I missed out on having whatever we needed and many times wanted.  I did end up with certain terrible health problems but I survived them because I could afford the healthcare and best doctors to keep me alive and my medical problems had nothing to do with living frugally.   My way works for me and my family but I know it is not the way for everyone.
4
paoli2paoli21,140 posts since
Aug 10, 2011
Rep Points: 5,083
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